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Surfside Real Estate - monthly market report - August 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Real Estate Surfside Market Doing?

There are currently 13 Surfside homes for sale (same as last month):

  • Highest priced listing:  $10,750,000 for the 6/6.5 new construction, modern home, at 1413 Biscaya Dr on the inside of Biscaya Island with 68' of water frontage ($1,987/SF)

  • Lowest priced listing: $850,000 for the 3/2 remodeled home at 8835 Hawthorne Ave ($582/SF)

  • Pending Sales: 8 (homes with a sales contract that have not yet closed)

  • Closed Sales in August: 11 (compared to 1 in July)

  • Median Sales Price in August: $1,080,000

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Surfside last month?

For a list of all properties sold in August and Houses for Sale Surfside, please email us at Surfside@miamism.com

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What is the average price per square foot in Surfside?

The average sold price per square foot in Surfside in August for homes not on the water was $564, compared to:

  • July's average - $592 (one sale)
  • June's average - $505
  • May's average - $518
  • April's average - $511
  • March's average - $464
  • February's average - $437
  • January's average - $502
  • 2020's average of $416

Thethe average sold price per square foot for Surfside waterfront homes in August was $1,627, compared to previous months:

  • July's average - no sales
  • June's average $721 (one sale)
  • May's average - no sales
  • April's average - no sales
  • March's average - $1000
  • February's average - $829
  • January's average - $809
  • 2020's average of $689 (only 6 sales)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Top Surfside Sales in August (by price per square foot)

  • Waterfront home at 932 88th Street, built in the 50's and renovated, with 4 bedrooms / 2 bathrooms and 1 half-bath. Home has 2,056 SF on 10,000 SF lot with 50' of water frontage. It was originally listed for $2.45 Million in June of 2018 and canceled.  Relisted again in July of 2021 for $3.7 Million and sold at full-price ($1,800/SF) **cash transaction
  • Brand new (2020), waterfront construction at 9408 Bay Dr with 7 bedrooms / 8.5 bathrooms, 5,849 SF on 9,100 SF lot with 50' of water frontage.  This home was originally listed for $6.55 Million in August of 2020, then again for $6.995 Million in December of 2020 and sold for $6.9 Million in February of 2021.  It was listed again for $10 Million in August of 2021 and sold for $8.5 Million ($1,453/SF)
  • Beautiful 40's home at 9065 Emerson Ave with 3 bedrooms / 2.5 bathrooms, 1,598 SF on 5,600 SF lot. Listed for $1.25 Million in May and selling for $1.3 Million ($814/SF) **cash transaction
     

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Real Estate Surfside 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:

  • Seller's Market with 1 month of inventory
  • Average Sales Price is $1.2 Million
  • Average Discount is 7%
  • Sweet spot in sales are homes priced between $700,000 - $800,000
  • 60.4% of all deals are CASH
  • Buyers are coming from the US, Canada, Argentina, Brazil and France
  • 64.3% of buyers are primary residents

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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