miami-shores-real-estate-market-report-january-2017

Miami Shores Real Estate Market Report for January 2017

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How is the Miami Shores Real Estate Market Doing?

There are currently 116 homes for sale:  (compared to 113 in November of 2016)

  • Highest priced listing is $5,400,000 $4,950,000 for the bay front house we sold back in 2014, located at 9275 N Bayshore Dr (see below for additional information and photos)
  • Lowest priced listing is $269,000 for home located at 85 NW 103 St (with open permits and interior debris according to MLS description)
  • Pending Sales (Properties under contract): 33 (compared to 24 in November)
  • Median Sales Price in January: $569,000 (compared to $549,000 in November)
  • Closed sales in January: 11 (compared to 14 in November)

The 11 Miami Shores homes sold in January were the following:

  • 600 NE 97th St – 3 bedrooms / 2.5 bathrooms, completely remodeled with 2,677 SF of living area and 13,000 SF lot – listed for $865,000 in November and selling for $865,000 ($323/SF)
  • 1053 NE 94 St – 4 bedrooms / 3.5 bathrooms, charming and immaculate home with 3,150 SF of living area on 8,250 SF lot – originally listed for $949,000 in June of 2016 and selling for $832,500 ($264/SF)
  • 9959 Biscayne Blvd – 3 bedrooms / 3 bathrooms, completely remodeled right on Biscayne Boulevard, across from The Miami Shores Country Club with 2,343 SF of living space on 10,973 SF lot – selling for $715,000 ($305/SF) **by Miamism Sales Team
  • 9341 NE 9 Ave – 4 bedrooms / 2.5 bathrooms, wood frame home with 2,668 SF of living area on 9,600 SF lot – originally listed for $729,000 in April of 2016 and selling for $600,000 ($225/SF)
  • 265 NE 92 St – 4 bedrooms / 4 bathrooms fixer upper with 1,965 SF of living area on 10,240 SF lot – originally listed for $550,000 in March of 2016, increased to $598,000, then dropped and increase again to $639,000 and finally selling at $515,500 ($262/SF)
  • 1075 NE 96 St – 2 bedrooms / 2 bathrooms, original condition with 2,319 SF on 12,375 SF lot – listed for $599,000 and selling for $569,000 ($245/SF)
  • 736 NE 94 St – 3 bedrooms / 2 bathrooms, beautiful old charm, 2,200 SF of living area on 9,675 SF lot – listed for $685,000 in August of 2016 and selling for $590,000 ($268/SF)
  • 275 NE 94 St – 3 bedrooms / 2 bathrooms, 2,245 SF of living area on 9,675 SF lot – listed for $565,000 and selling for $550,000 ($245/SF)
  • 10560 NE 2 Ct – 2 bedrooms / 2 bathrooms, 1,709 SF of living area on 11,500 SF lot – listed for $550,000 and selling for $525,000 ($307/SF)
  • 130 NW 97 St – 2 bedrooms / 2 bathrooms, 1,757 SF of living area on 8,625 SF lot – listed for $405,000 and selling for $390,000 ($222/SF)
  • 45 NE 98 ST – 3 bedrooms / 2 bathrooms foreclosure, 1,294 SF of living area on 8,625 SF lot – listed for $434,900 in September of 2016 and selling for $399,000 ($308/SF)

The average sold price per square foot in Miami Shores in January was $270 compared to 2016’s average of $278. There were no waterfront homes sold in January.

Inventory continues to increase slightly but nothing that reflects a drastic change in market trends.  Homes sold in January were generally not remodeled homes and that’s the reason for prices being below the $300/SF range.  Otherwise, the market remains stable and continues to appreciate at a conservative rate.  Please note that location and condition will be key in identifying what your house will sell for.  

If you are interested in a value analysis of your home, without obligation, we will be happy to send you one.  Just go to MiamismValue.com or click on The SELL tab above.

Miami Shores House of The Month

The Miamism Sales Team recommends the modern gem at 1195 NE 100 St.  This luxurious state-of-the-art green home has been remodeled with all the bells and whistles you can imagine.  It has an open, lofty feel with 3 bedrooms, 2.5 bathrooms, on 11,513 SF lot with limited edition artisan tile flooring, automated shades and awnings, geothermal cooling system ….and so many more features.  Please contact us for a complete list of features and take a look at this 3D walk-through of the home (details are also on the bottom of this post.)

Offered at $1,300,000.

Please contact us for more information and to coordinate a showing appointment.

 

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