Miami Shores Real Estate - monthly market report - February 2021

How is the Miami Shores Real Estate Market Doing?

There are currently 45 homes for sale: (compared to 56 in January)

Highest priced listing $6,495,000 for the bay front home at 9301 N Bayshore Dr with 4,618 SF, on 13,968 SF lot and 83′ of water frontage. ($1,406/SF)

For a list of all Miami Shores homes sold in February please email us at MiamiShores@miamism.com

The average sold price per square foot in Miami Shores in February for homes not on the water was $368, compared to:

There was 1 waterfront home sold in Miami Shores in February selling at $550/SF (fixed bridge), compared to:

Renovated beauty at 549 NE 106th Street with 3 bedrooms / 2 bathrooms, 1,691 SF on 9,150 SF lot. This home was listed for $800,000 in January and sold for $852,500 **above asking price, for $555/SF
Waterfront home at 1079 NE 104th Street (with one fixed bridge to bay), renovated with 3 bedrooms/ 3 bathrooms, 2,063 SF, 9,750 SF lot and 75′ of canal frontage. Listed for $1,049,000 in November of 2019 and selling for $970,000 ($550/SF)
Completely remodeled home at 515 NE 93 St with 4 bedrooms / 4 bathrooms, 2,740 SF and 9,600 SF lot. Listed for $1,515,000 in November of 2019 and selling for $1,375,000 ($541/SF) **cash transaction

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:

Decreased inventory and more demand with only 3 months of inventory and aggressive SELLER’s MARKET
Average Sales Price is $697,000
Average Discount is 6%
Sweet spot in sales are homes priced between $400,000 – $900,000 and $1M-$1.5 M
26.2% of all deals are CASH
76.5% of buyers are primary residents
Buyers are coming from U.S., Argentina, Brazil, Colombia and Spain