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Surfside Real Estate - monthly market report - Jan 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Surfside Real Estate Market Doing?

There are currently 17 Surfside homes for sale:

  • Highest priced listing:  $2.8 Million for 5 bedroom / 4.5 bathroom home under construction not on the water at 9408 Byron Ave., with 4,046 sq.ft., on 5,600 Sq.Ft. lot. ($692/SF)

  • Lowest priced listing: $749,000 for the 3/2 with 1,697 SF on 5,607 SF lot at 9073 Froude Ave. ($441/SF)

  • Pending Sales: 30 (homes with a sales contract that have not yet closed)

  • Closed Sales in January: 7

  • Median Sales Price in January: $710,000

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Surfside last month?

For a list of all properties sold in January, 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 January for homes not on the water was $502 compared to:

The average sold price per square foot in Surfside in January for waterfront homes was $809 compared to:

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

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

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

  • Brand new construction at 9408 Bay Drive with 7 bedrooms / 8.5 bathrooms, 9,252 SF on 9,100 SF lot with 50' of water frontage. This home was listed for $6.55 Million in August of 2018, increased to $7.45 Million in November, lowered to $6.995 Million in December and sold for $6.9 Million ($1,016/SF) **seller financing
  • 1935 waterfront home at 9234 Bay Drive with 3 bedrooms / 3 bathrooms, 2,363 SF on 13,000 SF lot with 60' of water frontage.  This home was listed for $2.4 Million and sold for $2,231,000 ($1,127/SF) **cash transaction and also the highest sale per square foot in January.
  • 1951 non-waterfront home at 625 95th St with 3 bedrooms / 2.5 bathrooms, 1,905 SF on 6,160 SF.  This home was listed for $999,000 in November and sold for $999,000 ($496/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:

  • Hot seller's market.  We are seeing bidding wars for properties that are in good locations and don't need a lot of work. There are 4 months of inventory at the current rate of sales.
  • Average Sales Price is $990,000
  • Average Discount is 7%
  • Sweet spot in sales are homes priced between $700,000 - $800,000
  • 48.2% of all deals are CASH
  • 72.4% of buyers are primary residents

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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