Surfside Real Estate Market Report – March 2018

How is the Surfside Real Estate Market Doing?

There are currently 54 Surfside homes for sale: (compared to 44 in February).

• Highest priced listing:  $4,600,000 (1249 Biscaya Dr– see below)

• Lowest priced listing: $514,999 (9064 Abbott Ave)

• Pending Sales: 2

• Closed Sales in March: 3 (compared to 1 in February)

• Median Sales Price in March $841,000

The Surfside homes sold in March were the following: 

• 9508 Carlyle Ave – 3 bedrooms / 2 bathrooms with 1,797 SF of living space on 5,600 SF lot. Listed for $849,000 in January and selling for $800,000 ($445/SF)
• 9452 Carlyle Ave – 3 bedrooms / 2 bathrooms with 2,074 SF of living space on 5,600 SF lot. Listed for $849,500 in January and selling for $841,000 ($416/SF)
• 9280 Carlyle Ave – 3 bedrooms / 3 bathrooms with 2,089 SF of living space on 5,600 SF lot. Listed for $920,000 in January and selling for $875,000 ($384/SF)

The average price per square foot for Surfside homes in March was $415 compared to previous months:

• February average $382
• January – no sales
• 2017’s average of $382/SF.

Inventory has increased a bit in Surfside which doesn’t mean a decrease in pricing, it should mean more movement for future months.  As we explained last month, if there are no homes to sell, sales data remains unchanged and doesn’t mean a down market. 

Surfside’s Market Action Index remains unchanged at 21.  This index measures the current rate of sales versus the amount of inventory.  Historically, an index above 30 implies Seller’s Market conditions.  The market has shown some evidence of slowing recently.  Both prices and inventory levels are relatively unchanged in recent week.

Contact us for a complimentary evaluation of your home.

To see our real-time market reports, please visit MiamismTrends.com or Click HERE.

Surfside Home of The Month

The Miamism Sales Team recommends the 1955 waterfront home at 8818 Hawthorne Ave.  This waterfront home is located in deep-water with direct ocean access and 60′ of water frontage.  The home has impact resistant windows and permanent whole house, gas generator.  It features 3 bedrooms / 2.5 bathrooms and 2,481 SF of living space on 9,600 SF lot. (see additional information below)

It’s offered for $1,895,000 ($681/SF)

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