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Surfside Real Estate Market Report - February 2020

Ines Hegedus-Garcia
ines@miamism.com

How is the Surfside Real Estate Market Doing?

There are currently 56 Surfside homes for sale (compared to 54 last month):

  • Highest priced listing:  $6,295,000 $5,995,000 for the contemporary, bay-front home designed by Max Strang with 5 bedrooms / 6.5 bathrooms, 4,900 SF on 10,000 SF lot with 50' of water frontage, located at 1276 Biscaya Dr.

  • Lowest priced listing: $550,000 Home being sold for lot value at 9712 Byron Avenue (2 adjacent lots also for sale)

  • Pending Sales: 6 (homes with a sales contract that have not yet closed)

  • Closed Sales in February: 1

  • Median Sales Price in February: $910,000

The Surfside home sold in February was located at 8909 S Irving Ave.  Home was located on an oversized, triangular corner lot and completely remodeled in 2009.  Offered 3 bedrooms / 2 bathrooms / 2 half-baths, 2,371 SF on 7,385 SF lot. (382/SF)

The average price per square foot in February for Surfside homes not on the water was $382 (one sale) compared to previous averages:

There were no waterfront sales in the month of February in Surfside, compared to previous months:

  • January's average $782 (one sale)

Did you know that almost 60% of all real estate transactions in Surfside are cash deals without financing? 54% of all owners are investors which reflects the cash purchases, compared to 47% occupying their homes as primary residences.  That's a surprisingly high number based on the area being perceived as a family location because of good schools and great community events. 

Surfside is still a buyer's inventory with 21 months of inventory.  At the current rate of sales, it would take 21 months to sell all the homes listed for sale.  Take a look at what countries buyers come from, which is key when marketing a home for sale and the difference in price per square foot between 2, 3 and 4 bedroom homes.

To get a copy of our in-depth 3D-analyzer report for Surfside, please CLICK HERE!

It's all about Data and the right analysis to understand how the market is behaving.  Contact us for a no-obligation consultation.


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