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How is The Miami Shores Real Estate Market? April 2016

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How is the Miami Shores Real Estate Market Doing?

Miami Shores Real Estate Market Report There are currently 107 Miami Shores homes for sale: (compared to 113 in March)

  • Highest priced listing is $3,999,000 $3,795,000 for the bay front home at 1300 NE 94 St (has been listed since December 2013)
  • Lowest priced listing is $304,900 for the foreclosure at269 NW 111 Ter (under Auction Terms with $2000 buyer premium paid at closing)
  • Pending Sales (Properties under contract): 33 (compared to 30 in March)
  • Median Sales Price in April: $479,500 (compared to $729,500 in March)
  • Closed sales in April: 10 (compared to 8 in March)

The 10 Miami Shores homes sold in April were the following:

  • 157 NW 104 St – 3 bedrooms / 2 bathrooms, 1,227 sq.ft. on 9,150 sq.ft. lot – Listed for $399,999 and selling for $370,000 ($302/SF)
  • 30 NW 92 St – 2 bedrooms / 2 bathrooms, 1,493 sq.ft. on 7,500 sq.ft. lot – Listed in February 2015 for $409,000 with a contract that fell through, and selling for $385,000 ($258/SF)
  • 475 NE 91 St – 3 bedrooms / 2 bathrooms, 1,920 sq.ft. on 6,350 sq.ft. lot – fixer-upper listed for $440,000 in March of 2016 and selling for $375,000 ($195/SF)
  • 173 NE 107 ST – 3 bedrooms / 2 bathrooms, 1,540 sq.ft. on 9,300 sq.ft. lot – This home was purchased for $433,500 in May of 2014, appears to be rented and then listed for $469,000 in February 2016.  Sold for $450,000 ($292/SF)
  • 30 NE 106 St – 3 bedrooms / 2 bathrooms, 1,700 sq.ft. on 9,225 sq.ft. lot – Listed for $525,000 in October of 2015 and selling for $466,500 ($274/SF)
  • 511 NE 101 St – 2 bedrooms / 2 bathrooms, 1,535 sq.ft. on 5,750 sq.ft. lot – listed for $529,999 in November of 2015 and selling for $492,500 ($321/SF)
  • 54 NE 106 St – 3 bedrooms / 2 bathrooms, 2,375 sq.ft. on 9,225 sq.ft. lot – originally listed for $470,000 in April of 2014, with a few price increases and decreases and back up contracts – selling for $500,000 ($211/SF)
  • 935 NE 99 St – 3 bedrooms / 2 bathrooms, 2,214 sq.ft. on 9,996 sq.ft. lot – Listed for $679,o00 and selling for $675,000 ($305/SF)
  • 702 NE 95 St – 4 bedrooms / 3 bathrooms, 2,932 sq.ft. on 15,897 sq.ft. lot – listed for $799,000 in June of 2014 and selling for $735,000 ($251/SF)
  • 276 NE 98 St – 4 bedrooms / 3.5 bathrooms, 3,145 sq.ft. on 11,500 sq.ft. lot – historic home listed for $1,275,000 and selling for $1,250,000 ($397/SF)

The average sold price per square foot in Miami Shores in April was $281 compared to:

We are in a correcting market right now which is right between a seller’s and buyer’s market.  It’s an in-between market because homes in move-in condition are still selling for top dollar.  Homes that need work, are easier to negotiate.  Homes are not dropping in value in Miami Shores, they are taking a bit longer to sell.  Please keep this in mind because the media has a tendency to generalize the South Florida Real Estate Market and you need to know what is happening locally. If you are one of those buyers just holding off for the market to collapse, you will be waiting a long time, because that will not happen in Miami Shores.  Prices fluctuate for a few different reasons:  condition, location, design.  If you want something less expensive, think of a busier street, something that needs updating and is not architecturally significant. You can get a FREE comparable market analysis at MiamismValue.com and we can also email you a more detailed report if you send us your contact information to info@miamism.com (Name, Telephone, address, email address).

Miami Shores House of The Month

The Miami Shores House of The Month is a completely renovated home with top of the line finishes.  The home at 9959 Biscayne Blvd is across the Miami Shores Country Club and golf course and has everything you could want from LED lighting, European style custom cabinets, white glass floors, gorgeous master suite, impact windows, and back entrance away from Biscayne Blvd. Call us for a listing appointment, this is one of those where you only bring a tooth brush. It’s priced at $878,000 ($378/SF) 9959 Biscayne Blvd - Miami Shores Please contact us for more information and to coordinate a showing appointment.

Miami Summer Camps

Our list of Summer Camps is out – Please CLICK HERE to view

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