Miami Shores Real Estate Market Report for January 2015

Miami Shores Homes – Real Estate Market Report

 

We prepare monthly market reports for Miami Shores but also encourage you to take a look at our annual reports which put all stats into perspective.  2014 Miami Shores Real Estate Stats can be seen HERE. There are currently 67 Miami Shores homes for sale:

• Highest priced listing is $5,995,000 (1600 NE 103 St:  6 bedrooms / 5 bathrooms / 2 half baths, 6,733 sq.ft. of living space on 20,534 sq.ft. lot – directly on Biscayne Bay)

• Lowest priced listing is $249,900 – foreclosure at 36 NW 101 St

• Pending Sales (Properties under contract): 43

• Closed sales in January: 16

The 16 Miami Shores homes sold in January ranged from $203,000 for a short sale at 166 NW 100 Te, which appeared pending in the MLS since September of 2014 (that’s over 3 months to close) – to $1.35 Million for the house located at 9909 NE 4th Avenue Road which was listed for $1.399 Million in October of 2014.(sold at $285/sq.ft.) There was only 1 waterfront sale for the home located at 1421 NE 102 Street which was listed for $1.15 Million in October of 2014 and sold for $1 Million ($360/sq.ft.) – it was a mid-century modern canal-front home in need of updating. The average price per square foot in Miami Shores in January was $225, lower than 2014’s average of $236.  To see past year’s averages, please read Miami Shores Real Estate Market Report for 2014. Although the highest sale was $1.35 Million, that house sold for $285/sq.ft. – the highest sale by price/sq.ft. was for the property located at 1147 NE 97 St which was beautifully updated and sold for $330/sq.ft.  Please take note of these prices, we are being asked to list homes at unrealistic price ranges and we are not in the business of keeping pretty inventory, we are in the business of selling homes. Your home may be the best and not “comparable” to the rest, but buyers are doing their homework, they are informed and educated and although they may be willing to go a bit above market value, they will not grossly overpay unless you have a one-of-a-kind property.  We will tell you when that’s the case. We, The Miamism Sales Team, have a proven track record of selling homes above market price and we will put money where our mouth is – here are 4 sales in the past 45 days that prove it:

• 273 NW 92 St – Miami Shores:  Listed for $300,000 – Zestimate $274,000 – sold for $295,000 (under contract in only 4 days)
• 800 90 St – Surfside:  Listed for $740,000 – Zestimate $651,351 – sold for $720,000 (under contract in less than 1 week)
• 9275 N Bayshore Dr – Miami Shores:  Listed for $4.25 Million – Zestimate $2,331,356 – Sold for $4.2 Million (highest recorded sale in Miami Shores for both price and price per square foot)
• 9201 Collins Ave #1225 – The Waverly at Surfside:  Listed for $950,000 – Zestimate $680,035 – Sold for $905,000 (highest recorded sale in the history of the building)

Call us Today for a listing appointment! If you want a quick automated value of your home, click on this link (you will need an email address to get the report and we do not share our emails or spam you). MIAMISMVALUE.COM If you are interested in getting a list of all properties currently for sale in Miami Shores, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at MiamiShores@miamism.com