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Miami Shores Real Estate Market Report - September 2020

Ines Hegedus-Garcia
ines@miamism.com

How is the Miami Shores Real Estate Market Doing?

There are currently 56 homes for sale: (compared to 57 last month)

  • Highest priced listing $5,950,000 for the bay front home at 9301 N Bayshore Dr with 5 bedrooms / 4.5 bathrooms, 4,618 SF on 13,968 SF lot with 83 feet of open bay water frontage.
  • Lowest priced listing is $383,000 for the 2 bedroom / 1 bathroom home at 190 NW 103 St.
  • Pending Sales (Properties under contract): 38
  • Median Sales Price in September: $625,000
  • Closed sales in September: 21 (Compared to 23 in August)

DOWNLOAD 3D MARKET ANALYZER REPORT HERE

What sold in Miami Shores in September?

There were 21 homes sold in Miami Shores in September.

Closed prices ranged from $336,000 for the 3/2 home at 10070 NW 2nd Ave ($204/SF)<<steal ; to $1,750,000 for the amazing architectural gem at 1201 NE 94 St, with 4 bedrooms/3 bathrooms, 14,295 SF lot, East of Biscayne Boulevard. ($643/SF)

Price per square foot ranged from $204 (also the least expensive home sold), to $643 (also the most expensive home sold).

For a list of all sales, please contact us and we'll be happy to provide.

DOWNLOAD 3D MARKET ANALYZER REPORT HERE

What is the average price per square foot in Miami Shores?

The average sold price per square foot in Miami Shores in September for homes not on the water was $382 compared to:

There were no waterfront homes sold in September in Miami Shores.  Past month averages as follows:

  • August average - no sales
  • July average $396 (one sale)
  • June average $761 (one sale)
  • May average - no sales
  • April average - no sales
  • March average - no sales
  • February average - no sales
  • January average - no sales

DOWNLOAD 3D MARKET ANALYZER REPORT HERE

Miami Shores Opinion

Miami Shores is one of the hottest real estate markets in Miami for single-family homes. We were interviewed and featured in the front page of The Miami Herald's Business Monday section just for this - please read article HERE.

Hegedus-Garcia attributes the popularity of the neighborhood to the diversity of its residents, its central location between Miami-Dade and Broward counties, and its proximity to airports and the beaches. But she said demand has sent sales prices in the neighborhood soaring, with the sweet spot currently between $675,000-$900,000.

We continue to have low inventory and high demand.  Grabbing stats from the last 12 months (shown above), you can see that there is only 4 months of inventory with an average sales price of $667,000 and average price per square foot of $324.

Bidding wars are back in many cases and seeing that with a few of our clients.  

Only 24.6% of deals are cash and buyers are not just local but also come from Venezuela, Brazil, Colombia and Argentina but these are not investors.  80% of home buyers are primary residents which says a lot about the quality of life in Miami Shores.

To get a copy of our 3D-market analyzer report, please click HERE or contact us with your address and we'll be happy to provide a physical copy.

Featured Miami Shores Home For Sale

This month's featured Miami Shores home is located at 671 NE 105th St.  It's a one-of-a-kind home directly on Miami Shores' golf course with incredible 29,600 SF lot and oversized 25x50 pool.  Everything about this house is large.  It was built in 1950 and has 6,290 SF, 5 bedrooms / 6.5 bathrooms, audio-video system, security cameras, 2-car garage natural gas generator and sits on private cul-de-sac. 

Priced at  $3,799,000 ($604/SF)

For additional information on this and any other Miami Shores Homes, please contact us or message us through any social media platform (@miamism).


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