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Surfside Real Estate Market Report for 2019

Ines Hegedus-Garcia
ines@miamism.com

Talk about a bumpy ride for Surfside but we are happy to report that the market seems to be back on track.  It's common to see neighborhoods with fast appreciation to come to a complete halt and even regress a bit to past years.  2019 proves that Surfside is back on track but keep in mind that appreciation will be very conservative.  

The highest sale right now is for a Max Strang designed, bay front home at 1276 Biscaya Drive, listed for $6,295,000.  This home was listed in December and is definitely a one-of-a-kind property. 

The lowest listing is for the property at 8712 Byron Ave, being sold since October 2018 as a "development opportunity" with 2 adjacent lots also available, for $550,000.

Out of the 48 homes in Surfside sold in 2019, only 7 were waterfront, and those selling at an average square foot of $690 and ranging between $449/SF and $856/SF.

Let's start by taking a look at price per square foot changes for non-waterfront homes in Surfside.

Download our latest 3-D Market Analyzer HERE.

Surfside Homes - Price per Square Foot

Here is a list with average price per square foot in the past years for Surfside homes not on the water:

Year Price per SF
2019 $386/SF
2018 $360/SF
2017 $382/SF
2016 $377/SF
2015 $350/SF
2014 $324/SF
2013 $270/SF
2012 $233/SF
2011 $193/SF

Surfside is now back on track - after seeing massive increases, 2018 proved to be a challenging year and now expect appreciation to remain at a conservative pace. It is still a buyer's market with 12 months of inventory - this means that at the current pace of sales, it would take 12 months for current inventory to sell.

What is interesting to note, at a micro level, from Surfside's sold data in 2019, is that 3 bedroom homes sold for a higher price per square foot ($393/SF average), than 4 bedroom homes ($346/average).  2-bedroom homes had an average discount of 11% in Surfside and most sales happened between $500,000 and $700,000.  That's what we call Surfside's "sweet spot".

We offer market reports on a monthly basis for you to stay on top of the pulse of the market.  These reports help you identify the best time to buy or sell. Download our latest 3-D Market Analyzer HERE.

Surfside Real Estate Market Report for 2019

The general figures for Surfside homes in 2019 are the following:  (click HERE to see 2018 figures)

  • There were 48 Surfside homes sold in 2019.  The median sales price was $745,000.
  • The highest sale in Surfside in 2019 was for the waterfront home at 9056 824 88th Street.  This home was originally listed for $4,425,000 in August of 2018 and sold for $3.9 Million in January of 2019.
  • The highest non-waterfront home sale in Surfside in 2019 was for the completely renovated home at 9540 Byron Ave with 5 bedrooms / 4.5 bathrooms, 3,019 SF of living space and 9,677 SF lot.
  • The lowest Surfside home sold in 2019 was located at 8838 Harding Avenue with rentable in-law quarters. This home was originally listed for $599,000, reduced several times and sold at $500,000 in October of 2019.
  • The highest average price per square foot in Surfside for a non-waterfront home was $617, for the beautifully remodeled home at 8810 Froude Ave with 3 bedrooms / 2.5 bathrooms, 1,693 SF of living area on 5,600 SF lot. This home was listed for $1,195,000 in December of 2018 and sold for $1,045,000 in May of 2019.
  • There was only 1 sale under $500,000 in 2019.

Download our latest 3-D Market Analyzer HERE.

List of Surfside Homes Sold in 2019

To get a list of all Surfside homes sold in 2019, please contact us.

Download our latest 3-D Market Analyzer HERE.


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