Miami Shores Real Estate Market Report for March 2015

Miami Shores Homes – Real Estate Market Report

There are currently 62 Miami Shores homes for sale (10 less than last month):

• Highest priced listing is $5,995,000 $5,495,000 (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 $250,000 – short sale at 10804 NW 2 Av (with approximate $80,000 worth of repairs including roof, structural, complete remodeling – as per MLS description)

• Pending Sales (Properties under contract): 41 (2 less than last month)

• Closed sales in March: 18 (compared to 9 in February)

The 18 Miami Shores homes in March ranged from $165,000 for a short sale that had been pending since September of 2014 located at 10326 NW 1 Ave – to $2,275,000 for the canal front home at 1450 NE 103 St which was listed in December of 2014 for $2.599 million on a 30,000 sq.ft. lot just one house in from the bay. There were 2 other Miami Shores water front homes sold in March.  One was 1460 NE 101 St with 3,611 sq.ft. and 120′ of open bay frontage (12,352 sq.ft. lot) – listed for $2.2 million in January and selling for $2.22 million.  The other one was 1131 NE 104 St, located inside the Biscayne Boulevard bridge (one fixed bridge to bay), with 2,580 sq.ft. of living space and 9,750 sq.ft. lot – listed for $825,000 in December of 2014 and selling for $750,000. The average price per square foot in Miami Shores in the month of March was $247, compared to February’s average of $227, and January’s average of $225.  The average in 2014 was $236, if you want to see 2014’s stats, please click HERE. We are reaching that time on the market where sellers get over zealous and grossly over price their homes.  But not to worry, these homes either don’t sell, or get a major price adjustment.  There is a shortage of inventory, but it doesn’t mean buyer are not doing their homework. We also have a few cash buyers waiting for the right house to come on the market.  If you would consider selling, please contact us, we will keep your information confidential.

To sign up to our Home Trend Reports, go to MiamismTRENDS.com and fill in your information. If you have any doubts on the automated value, please contact us and we will make adjustments and corrections according to upgrades and location of your particular home. Call us Today for a listing appointment! 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