miami-shores-real-estate-monthly-market-report-jan-2021

Miami Shores Real Estate – monthly market report – Jan 2021

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 

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What sold in Miami Shores last month?

For a list of all properties sold in January, 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 January for homes not on the water was $332 compared to:

There were no waterfront homes sold in Miami Shores in January.

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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)

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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:

  • 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

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Market Reports for The Tri-villages