How is the Miami Shores Real Estate Market Doing?
There are currently 56 homes for sale:
- 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)
- Lowest priced listing is $465,000 for the 2/1 at 10290 N Miami Ave ($420/SF)
- Pending Sales (Properties under contract): 45
- Median Sales Price in January: $630,000
- Closed sales in January: 11
What sold in Miami Shores last month?
For a list of all properties sold in January, 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 January for homes not on the water was $332 compared to:
There were no waterfront homes sold in Miami Shores in January.
Top 3 Sales in Miami Shores in January (by square footage)
- One of a kind custom home on dry-lot on 6th AV and The golf course with over 7,000 SF, on a 23,689 SF lot – listed for $4,299,000 and sold for $3,834,000 620 NE 101 St. (almost 12% discount – $540/SF – Conventional loan)
- 2nd highest sale was the home at 9518 N Miami Ave. 3/2 with 9,750 SF lot – listed for $579,999 and sold for $535,000 (cash transaction – $499/SF)
- 3rd place goes to the colonial home on busy Biscayne Blvd located at 9430 Biscayne Blvd. 4/3/1 on 13,123 SF lot – This home sold for $530,000 in October of 2016, was listed for $1,080,000 in June of 2020, increased to $1,161,800 in August and sold for $1,100,000 (conventional loan, $444/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:
- Hot seller’s market. We are seeing bidding wars for properties that are in good locations and don’t need a lot of work. There are 3 months of inventory at the current rate of sales.
- Average Sales Price is $693,000
- Average Discount is 6%
- Sweet spot in sales are homes priced between $400,000 – $900,000
- 25.2% of all deals are CASH
- 79.5% of buyers are primary residents