Miami Shores Real Estate – monthly market report – August 2021
How is the Miami Shores Real Estate Market Doing?
There are currently 28 homes for sale: (compared to 35 in July)
- Highest priced listing $8.5 Million for the 5/4.5 bay front home at 9999 NE 13th Avenue with 83′ of open bay water frontage ($2,163/SF)
- Lowest priced listing is $470,000 for a 3/2 at 415 NW 111th St by Barry University. ($353/SF)
- Pending Sales (Properties under contract): 37
- Median Sales Price in August: $920,000
- Closed sales in August: 19 (compared to 20 in July)
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What sold in Miami Shores last month?
For a list of all Miami Shores homes sold in August please email us at MiamiShores@miamism.com
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What is the average price per square foot in Miami Shores?
The average sold price per square foot in Miami Shores in August for homes not on the water was $541 compared to:
- July’s average $449
- June’s average $455
- May’s average $402
- April’s average $435
- March’s average $421
- February’s average $368
- January’s average $332
- 2020’s average of $338
There were no waterfront homes sold in Miami Shores in August, previous months’ averages as follows:
- July’s average $1,453 (1 sale)
- June’s average – no sales
- May’s average – no sales
- April’s average – $593 (1 sale)
- March’s average – $321 (1 sale)
- February’s average – $550 (1 sale – fixed bridge)
- January’s average – no waterfront sales
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Top 3 Sales in Miami Shores in August (by square footage)
- Rare find for a non-waterfront home with direct bay views (located on Miami Shores’ Board Walk) at 9650 N Bayshore Dr. This meticulously updated home with gorgeous interior design has 5 bedrooms / 4.5 bathrooms, 4,514 SF on 15,416 SF lot. It was originally listed for $3.2 Million in December of 2020, increased to $3.799 M, then reduced a few times and sold for CASH at $3,085,000 ($683/SF)
- One-of-a kind wood frame home that has been listed since 2017 (starting at $1,049,00) and finally sold for $1,224,900, which shows timing is everything. This 3 bedroom / 3 bathroom home, located at 1100 NE 91 Ter. has 1,854 SF of living space and sits on a 9,365 SF lot. ($661/SF)
- Gorgeous home, completely updated at 806 NE 92 St with 4 bedrooms / 2.5 bathrooms, 2,270 SF on 14,350 SF lot. It was purchased for $530,000 in 2018 and listed for $1.499 Million in March – selling for $1,470,000 ($648/SF)
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Miami Shores Opinion
We provide a comprehensive 3D market report with in-depth data from the last 12 months that you can download HERE.
Some key points you should know:
- 1 month of inventory and aggressive SELLER’s MARKET
- Average Sales Price has increased to $833,000 (continues to increase)
- Average Discount remains at 6%
- Sweet spot in sales are homes priced between $600,000 and $1.5 Million
- 28% of all deals are CASH
- 79.4% of buyers are primary residents
- Buyers are not just local and from other US cities, but also from Argentina, Italy, Colombia and France.
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Market Reports for The Tri-villages
