Miami Shores Real Estate Market Report for September 2014

Miami Shores Homes – Real Estate Market Report

There are currently 79 Miami Shores homes for sale: (6 more than last month)

• 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 $109,900 (301 NW 104 St – West Miami Shores) – foreclosure

• Pending Sales (Properties under contract): 39 (2 less than last month)

• Closed sales in September: 15 (7 less than last month)

The 15 Miami Shores homes sold in September ranged from $215,000 for a bank owned foreclosure at 272 NW 111 Terrace, to $3,100,000 for the bay front home located at 9999 NE 13th Ave, which sold for $789/sq.ft. That was the only waterfront sale in Miami Shores in September and Miami Shores bay-front homes continue to show a price increase because of the lack of inventory.  The average price per square foot in September for Miami Shores homes was $235 compared to August’s average of $214.  The highest sale for a non-waterfront home in Miami Shores is September was $354 for the meticulously renovated mid-century modern at 790 NE 97 St. The average sales price  in the first 1/2 of 2014 in Miami Shores was $223 which is slightly higher than 2013′s average of $215. We can see a slight increase in inventory and we have gotten quite a bit of calls for sellers ready to list their homes at astronomically high prices.  Remember that buyers are educated and unless you are selling a product that is amazing and one-of-a-kind, gross overpricing is not a good idea. Call us for a listing appointment. It is a seller’s market, which means any agent can sell your home, but not every agent can get you the most money for your property.  We specialize in marketing your property to maximize exposure and gains.  This seller’s market will not last forever and we estimate about 18 more months before the real estate market stabilizes and possibly drops a bit. CHECK YOUR CURRENT HOME VALUE GET A FREE SELLER GUIDE NAME YOUR SELLING PRICE 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 For information on an off-market property in Miami Shores, please contact us directly – bay front lot for sale for $2.5 million with approved site plan by the City of Miami Shores.  It is not in the MLS