Miami Shores Real Estate - monthly market report - June 2021

How is the Miami Shores Real Estate Market Doing?

There are currently 37 homes for sale: (compared to 34 in May)

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)

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

The average sold price per square foot in Miami Shores in May for homes not on the water was $455, compared to:

There were no waterfront home sold in Miami Shores in June, previous months’ averages as follows:

Beautifully restored mid-century modern (designed by Joseph De Brita) on a 1/2 acre lot located at 500 NE 96th Street. The home was listed for $2,599,000 in April and sold for $2.5 Million ($686/Sf) **cash transaction
One of my favorite homes East of Biscayne – another mid-century home at 1190 NE 100th St. Home was listed for $1,390,000 in April and sold for $1,308,000 ($683/SF) **cash transaction
Another mid-century at 1130 NE 91 Ter. This one was listed in March for $1,399,000 and sold for $1,390,000 ($585/SF)

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:

2 months of inventory and aggressive SELLER’s MARKET
Average Sales Price has increased to $763,000 (continues to increase)
Average Discount remains at 6%
Sweet spot in sales are homes priced between $400,000 – $900,000 and between $1M-$1.5M
26.5% of all deals are CASH
80.3% of buyers are primary residents