Surfside Real Estate Market Report – July 2017

Surfside Real Estate Market Report – July 2017

There are currently 47 Surfside homes for sale: (compared to 55 in June)

• Highest priced listing:  $5,000,000 (1332 Biscaya Dr – see below)

• Lowest priced listing: $565,000 $559,000 (9156 Harding Ave – see below)

• Pending Sales: 4 (compared to 1 in June)

• Closed Sales in July: 6 (same as in June)

• Median Sales Price in July: $665,000

The 6 Surfside homes sold in July were the following:

• 9165 Froude Ave – 3 bedrooms / 2 bathrooms with 1,946 SF on 5,600 SF lot – originally listed for $795,000 in March and selling for $565,000 ($290/SF)

• 9125 Emerson Ave – 3 bedrooms / 2.5 bathrooms with 1,942 SF on 5,600 SF lot – listed for $649,000 in January and selling for $560,000 ($355/SF)

• 8867 Emerson Ave – 2 bedrooms / 2 bathrooms with 1,770 SF on 5,600 SF lot – listed for $659,000 in March and selling for $630,000 ($391/SF)

• 8843 Carlyle Ave – 3 bedrooms / 2 bathrooms with 1,523 SF on 5,600 SF lot – listed for $670,000 in May and selling for $650,000 ($427/SF)

• 9264 Byron Ave – 3 bedrooms / 2 bathrooms with 1,800 SF on 5,600 SF lot – originally listed for $710,000 in April of 2016 and selling for $680,000 ($426,000)

• 9156 Bay Dr – waterfront 3 bedrooms / 4 bathrooms with 3,392 SF on 14,400 SF lot with 80’ of water frontage – originally listed for $3.5 Million in July of 2015, with several price reductions, a fallen contract, and finally selling for $2.2 Million ($726/SF)

The average selling price per square foot for Surfside homes not on the water in July was $378 compared to previous months:

• $398/SF in June
• $355/SF in May
• $387/SF in April
• $423/SF in March
• $423/SF in February
• $363/SF in January
• 2016’s average of $377/SF.

There was only one waterfront home sold in July – 9156 Bay Drive and sold for $726/SF.

Inventory continues to drop in Surfside and demand remains strong.  Homes that are selling for top dollar are those that are remodeled and in top showing condition.  If you are thinking of selling, you need to be realistic about what a remodeled home is:  it will have impact windows, a newer roof, updated electrical and plumbing, new kitchen and bathrooms and current/modern finishes and materials.  

Homes that are sitting on the market are usually ones that need work and Surfside buyers are looking for size and updates before everything else.

Because national and county-wide news sources can be slow and not accurately represent what is happening in your local market, we recommend signing up to our localized, easy to read real-time market reports that provide you with a well-rounded, up to date view of how the real estate market is behaving.  Please CLICK HERE for Surfside reports or visit MiamismTRENDS.com for other areas.

Contact us for a no-obligation consultation to give you an idea what your home could sell for.  It’s key to know the right market timing to get the right price for your home.

Surfside Home of The Month

This month, The Miamism Sales Team recommends the 1945, waterfront home located at 9380 Bay Drive.  Remodeled modern home with open floor plan, over 4,000 SF of living space, 9,270 SF of land with 50’ of water frontage.

The home is being offered for $2.199 Million ($461/SF)

Please contact us for additional information or to schedule a showing appointment for this and any other Surfside home.