Miami Shores Housing Market Report for March 2013

Miami Shores Homes – Real Estate Market Report

There are currently 43 Miami Shores homes for sale: (24 less than last month)

• Highest priced listing is $1,300,000 (canal front listing at 1399 NE 104 St- pictured above)

• Lowest priced listing is $178,000 (Short Sale listing at 338 NW 111 Te)

• Pending Sales (Properties under contract): 47 (14 more than last month)

• Closed sales in March:  13 (5 more than last month)

The 13 Miami Shores homes sold in March were the following:

• 9400 Bayshore Drive – fixer upper right across from boardwalk originally listed for $1,232,000 and selling for $800,000 after a few price reductions.  (that’s $167/sf which will hurt as a comp for surrounding properties).
• 308 NE 96 St – immaculate mid-century originally priced for $850,000 in April of 2012, selling for $750,000 ($262/sf).
• 9777 NE 5 Av Rd – priced at $749,000 and selling at $750,000 ($263/sf)
• 1240 NE 93 St – This home sold for  $460,000 in September of 2011 and was fixed, relisted for $699,000 and sold for $597,000 (255/sf)
• 10108 NE 1 Av – listed for $689,000 and sold for $635,000
• 1208 NE 95 St – originally listed for $650,000, reduced to $4595,000 and sold for $480,000 ($221/sf)
• 285 NE 98 St – central Shores listed for $577,000 and selling for $535,500 ($200/sf)
• 301 NE 93 St  – listed for $529,9o0 and selling for $505,000 ($198/sf)
• 70 NE 92 St – listed for $445,000 and selling for $420,000 ($230/sf)
• 429 NE 102 St – listed for $388,999 and selling for $376,000 ($206/sf)
• 890 NE 92 St – listed for $369,900 and selling for $325,000 ($165/sf)
• 9377 NE 9 Pl – short sale originally listed for $360,000 with a few pending sales showing on the MLS history, and finally closing for $318,500 ($181/sf).
• 19 NW 92 St – listed for $339,000 and selling for $314,000 ($246/sf)

The Median price for Miami Shores homes sold in March was $480,000, compared to February’s $465,000 and January’s $350,000.  The upward trend is definitely a positive sign for Miami Shores and goes hand in hand with Miami’s improving real estate market.  the average price per square foot in March was $216 with the highest at $263 and lowest at $165.  The disparity has to do with location and condition of the home.  Those properties in move-in condition are selling in the mid to high $200’s /sf. We provide monthly numbers so you can compare movement in the Miami Shores real estate market from month to month.  Please take a look at Miami Shores homes stats for 2012 to get a real idea of price per square foot and change in both the luxury and distressed markets.

We are Miami Shores REALTORS and continue to help clients buy and sell real estate in this area.  Call us for all of your real estate home needs.

Click here to search for Miami Shores homes for sale

**all information obtained from the Southeast Florida Multiple Listing Service**