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Miami Shores Real Estate - monthly market report - October 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Miami Shores Real Estate Market Doing?

There are currently 25 homes for sale: (compared to 24 in September)

  • Highest priced listing $8.5 Million for the 5/4.5 bay front home at 9999 NE 13th Avenue with 83' of open bay water frontage ($2,163/SF)
  • Lowest priced listing is $720,000 for the 2/1 at 9405 NW 2nd Ave  ($609/SF)
  • Pending Sales (Properties under contract): 36
  • Median Sales Price in October: $875,000
  • Closed sales in October: 16 (compared to 15 in September)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Miami Shores last month?

For a list of all Miami Shores homes sold in October please email us at MiamiShores@miamism.com

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

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

The average sold price per square foot in Miami Shores in October for homes not on the water was $492 compared to:

  • September's average $510
  • August's average $541
  • July's average $449
  • June's average $455
  • May's average $402
  • April's average $435
  • March's average $421
  • February's average $368
  • January's average $332
  • 2020's average of $338

There were no Miami Shores Waterfront Homes sold in October, compared to previous months:

  • September's average $881
  • August's average - no sales
  • July's average $1,453 (1 sale)
  • June's average - no sales
  • May's average - no sales
  • April's average - $593 (1 sale)
  • March's average - $321 (1 sale)
  • February's average - $550 (1 sale - fixed bridge)
  • January's average - no waterfront sales

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Top 3 Sales in Miami Shores in October (by square footage)

  • Beautifully remodeled mid-century modern at 1075 NE 99th St with 4 bedrooms / 3 bathrooms, 1,897 SF on 12,249 SF lot.  This house was purchased for $990,000 in May of 2018, listed for $1,585,000 in September of 2021 and sold for $1.49M ($785/SF)
  • Renovated home at 1351 NE 101 St with 3 bedrooms / 3.5 bathrooms, 2,370 SF on 11,255 SF lot.  This house was purchased for $1,080,000 in September of 2018, listed for $1,825,000 in October and sold for $1,825,000 ($770/SF) **cash transaction
  • Gorgeous tri-level mid-century at 1640 NE 104 St with 4 bedrooms / 4.5 bathrooms, 3,061 SF on 8,850 SF lot. This home was purchased for $1,050,000 in March of 2020, was listed for $1,850,000 in October and sold for $1.8 Million ($588/SF)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Miami Shores Opinion

We provide a comprehensive 3D market report with in-depth data from the last 12 months that you can download HERE.

Some key points you should know:

  • 1 month of inventory and continues to be an aggressive SELLER's MARKET
  • Average Sales Price has increased to $877,000 (continues to increase)
  • Average Discount is 7%
  • Sweet spot in sales are homes priced between $1.0 and $1.5 Million
  • 29.7% of all deals are CASH
  • 76.7% of buyers are primary residents
  • Buyers are not just local and from other US cities, but also from Argentina, Italy, Colombia and France.

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Market Reports for The Tri-villages

        


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