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Surfside Real Estate - monthly market report - September 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Real Estate Surfside Market Doing?

There are currently 14 Surfside homes for sale (compared to 13 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: $875,000 for the remodeled 3/2 at 8835 Hawthorne Ave ($599/SF)

  • Pending Sales: 7 (homes with a sales contract that have not yet closed)

  • Closed Sales in September: 7 (compared to 11 in August

  • Median Sales Price in September: $870,000

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Surfside last month?

For a list of all properties sold in September 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 September for homes not on the water was $441, compared to:

  • August's average - $564
  • 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

The average sold price per square foot for Surfside waterfront homes in September was $1,530 (one sale), compared to previous months:

  • August's average - $1,627
  • 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 September (by price per square foot)

  • Waterfront home located at 600 88th St, sold as restoration or development project with 15,075 SF lot and 75' of water frontage.  Home has 2,451 SF of living space, 3 bedrooms and 2 bathrooms. Originally listed for $4 Million in October of 2019, showing a deal that fell through.  Relisted for $2.75M in June of 2020, then increased to $3.75 M in August of 2020 with several price increases throughout 2021 up to $5 Million.  MLS shows a sale for $3.75M in August of 2021 and then again for the same price in September of 2021. ($1,530/SF) ** Cash Transaction
  • Renovated 2 bedroom/ 2 bathroom + den home at 9456 Abbott Ave on 5,600 SF lot. Home was originally listed for $949,980 in January of 2021, showing 2 contracts that fell through and price increase to $1.1 M and then $1.2 M - selling at $1,015,000 ($641/SF) **cash transaction
  • 1953 built home at 9025 Hawthorne Ave with 3 bedrooms / 2 bathrooms, 1,704SF on 5,600 SF lot. LIsted for $895,000 in July and selling for $895,000 ($525/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 2 months of inventory
  • Average Sales Price is $1.3 Million
  • Average Discount is 7%
  • Sweet spot in sales are homes priced between $700,000 - $800,000
  • 64.7% of all deals are CASH
  • Buyers are coming from the US, Canada, Argentina, Brazil and France
  • 64.1% of buyers are primary residents

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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