Surfside Real Estate Market Report for April 2015

Surfside Real Estate Market Report

There are currently  23  Surfside homes for sale (1 more than last month):

• Highest priced listing: $5,000,000 (waterfront fixer upper at 1332 Biscaya Dr)
• Lowest priced listing: $575,900 (700 Surfside Bl)
• Pending Sales: 7 (same as last month)
• Closed sales in April: 8 (compared to 2 in the previous month)

The 8 Surfside homes sold in April were the following:

• 8745 Abbott Av – 3 bedrooms / 2 bathrooms with 1,522 sq.ft. of living space – listed for $507,000 in December of 1204, then priced was raised to $550,000 in March and selling for $540,000 ($355/sq.ft.)
• 1221 Biscaya Dr – bay front 4 bedrooms / 4 bathrooms / 1 half-bath residence with 3,612 sq.ft. of living space – originally listed for $2.95 million in January of 2014, reduced to $2.49 million in April of 2014, then again to $2.199 million in June of 2014 and finally selling for $1.8 million ($498/sq.ft.)
• 1249 Biscayne Dr – waterfront short sale with 5 bedrooms / 4 bathrooms / 1 half-bath with 4,916 sq.ft. of living space – originally listed for $5.2 million in August of 2013, with several price reductions and finally selling for $2,030,000 ($413/sq.ft) << talk about a deal!!
• 9033 Carlyle Av – 3 bedrooms / 3 bathrooms, 1,750 sq.ft. of living space – originally listed for $625,000 in February of 2015 and selling for $591,500 ($338/sq.ft.)
• 9224 Dickens Av – 3 bedrooms / 2 bathrooms with 1,745 sq.ft. of living space – listed for $575,000 in January of 2015 and selling for $500,000 ($287/sq.ft.)
• 9065 Emerson Av – 3 bedrooms / 2 bathrooms with 1,881 sq.ft. of living space – listed for $609,900 and selling for $580,000 ($308/sq.ft.)
• 9032 Emerson Av – 3 bedrooms / 2 bathrooms / 1 half-bath with 1,907 sq.ft. of living space – listed for $699,900 in February 2015 and selling for $675,000 ($354/sq.ft.)
• 8851 Dickens Av – 4 bedrooms / 3 bathrooms with 1,928 sq.ft. of living space – listed for $849,000 and selling for $850,000 ($441/sq.ft.)

The average selling price per square foot for Surfside homes (not on the water) in April was$347 compared to averages in other months:

• March $363
• February $316
• January $321
• 2014 – $324

The law of supply and demand really applies in when it comes to Surfside homes.  Inventory is at an all-time low and demand is very high.  Demand is especially high for 4 bedroom homes and those that are in move-in condition.  Keep this in mind when you are remodeling, adding a 4th bedroom will help your home not only sell quickly, but appreciate at a faster rate.

---

Go to MiamismTRENDS.com to sign up for a monthly trends report.  This is an automated system, different to this market report we prepare on a monthly basis but can send both of you without obligation and always keeping your information confidential.

Call us Today for a listing appointment!

If you are interested in getting a list of all properties currently for sale in Surfside, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at Surfside@miamism.com