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How is The Surfside Real Estate Market? May 2016

Ines Hegedus-Garcia
ines@miamism.com

Surfside Real Estate Market Report

There are currently  36  Surfside homes for sale: (compared to 43 in April)

  • Highest priced listing: $5,000,000 (for the partially renovated, Biscaya Island home with 100′ of water frontage, located at 1332 Biscaya Dr)
  • Lowest priced listing: $589,000 (9424 Byron Av)
  • Pending Sales: 7 (compared to 3 in April)
  • Closed sales in May: 3 (compared to 5 in April)
  • Median Sales Price in May: $639,000

The 3 Surfside homes sold in May were the following:

  • 9149 Emerson Av - 4 bedrooms / 3 bathrooms, 1,871 SF on 5,600 SF lot - originally listed for $999,000 in December of 2014 with several price reductions and selling for $570,000 ($305/SF)
  • 8950 Carlyle Av - 3 bedrooms / 2 bathrooms, 1,543 SF on 5,600 SF lot - listed for $659,000 in February and selling for $625,000 ($405/SF)
  • 9041 Garland Av - 3 bedrooms / 2 bathrooms, 1,760 SF on 5,600 SF lot - listed for $757,000 in January, reduced to $739,000 in March and selling at $720,000 ($409/SF)

The average selling price per square foot for Surfside homes not in the water in May was $373 compared to:

Inventory continues to decrease in Surfside which is textbook for rising prices.  (Supply is less than Demand).  Although price per square foot dropped a bit last month, the overall market continues to increase at a conservative pace.  This does not give you ammunition to overprice your home, look at what happened to 9149 Emerson...which was grossly overpriced and sold under market. Always consult with a realtor that knows and understands the dynamics of the area.  We are here to give you a no-obligation listing consultation where we discuss not only price, but condition of your home and give recommendations for how to best show. There were no waterfront sales in Surfside in the month of April or May but there were 11 waterfront homes sold in Surfside in 2015 and that average was $634/SF.

Surfside Home of The Month

Miamism Sales Team features the Surfside waterfront property located at 8925 Bay Drive –  Beautifully renovated mid-century modern, LEED-certified home on canal. (no pool) 4 bedrooms / 3 bathrooms, 2,660 SF of living space on 7,500 SF lot with 50′ of water frontage. . The marketing description reads:

This award-winning 2-story waterfront home in Surfside is the perfect expression of elegant ease. Meticulously renovated down to the studs & LEED-certified, every detail's been considered. 4 bedrooms, 3 baths & 2-car garage. Chef's kitchen with Thermador  & Subzero appliances. Located on quiet cul-de-sac with lushly landscaped yard & outdoor living rm. New 50ft dock, no fixed bridges to ocean. Huge generator, 3-zone AC + so much more. Walk to the beach & Bal Harbour Shops. Zoned for A+ Bay Harbor Schools.

Asking price is $2,240,000 ($842/SF) 8925 Bay Dr - Surfside by Miamism.com Please contact us for more information and we will also be happy to arrange a showing appointment.  

To get a FREE, no obligation CMA (comparable market analysis) go to MiamismValue.com and fill in your information. 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


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