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)
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
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
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)
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.