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Surfside Real Estate - monthly market report - Feb 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Surfside Real Estate Market Doing?

There are currently 18 Surfside homes for sale (compared to 17 last month):

  • Highest priced listing:  $4.5 Million for the waterfront teardown at 600 88th Street (has a 3/2 home with 2,815 SF, built in 1937) on 15,075 SF lot with 75' of water frontage. ($1,599/SF)

  • Tied for highest priced listing: $4.5 Million for the waterfront fixer upper at 1385 Biscaya Dr with 9 bedrooms / 5.5 bathrooms, 5,606 SF on 19,554 SF lot with 80' of water frontage ($803/SF)

  • Lowest priced listing: $749,000 for the 3/2 with 1,659 SF on 5,600 SF lot at 8827 Hawthorne Ave ($451/SF)

  • Pending Sales: 21 (homes with a sales contract that have not yet closed)

  • Closed Sales in February: 9 (compared to 7 in Jan)

  • Median Sales Price in February: $760,000

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Surfside last month?

For a list of all properties sold in February 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 February for homes not on the water was $437, compared to:

The average sold price per square foot in Surfside in February for waterfront homes was $829, compared to:

  • January's average - $809
  • 2020's average of $689 (only 6 sales)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Top 3 Sales in Surfside in February (by square footage)

  • 732 88th St - waterfront home with 4 bedrooms / 3.5 bathrooms, 2,256 SF on 15,150 SF lot with 75' of water frontage. This home was originally listed in June of 2019 for $2,595,000, lowered and then relisted for $2,695,000 in December of 2020. Closing at $2,685,000 in February ($921/SF) **cash transaction
  • 9208 Bay Dr - waterfront home with 4 bedrooms / 2.5 bathrooms, 2,426 SF on 12,689 SF lot with 55' of water frontage.  Listed for $2,400,000 in October of 2020 and sold for $2.2 Million ($736/SF)
  • 9264 Dickens Ave - dry lot home with 3 bedrooms / 2 bathrooms, 1,685 SF on 5,600 SF lot. Originally listed in September of 2019 for $750,000 and selling for $750,000 ($508/SF) **cash transaction

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

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:

  • Aggressive Seller's Market with 3 months of inventory (at the current rate of sales).
  • Average Sales Price is $1 Million
  • Average Discount is 7%
  • Sweet spot in sales are homes priced between $700,000 - $800,000
  • 49.2% of all deals are CASH
  • 71.6% of buyers are primary residents

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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