Miami Shores Real Estate – monthly market report – March 2021
How is the Miami Shores Real Estate Market Doing?
There are currently 22 homes for sale: (compared to 45 in February)
- Highest priced listing $3,995,000 for the property under construction at 1276 NE 93 St, with water view of The Miami Shores Boardwalk. 5 bedrooms / 4 bathrooms/ 2 half-baths ($950/SF)
- Lowest priced listing is $655,000 for the 3/2 at 140 NW 102 St ($367/SF)
- Pending Sales (Properties under contract): 68
- Median Sales Price in March: $787,000
- Closed sales in March: 22
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What sold in Miami Shores last month?
For a list of all Miami Shores homes sold in March 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 March for homes not on the water was $421, compared to:
- February’s average $368
- January’s average $332
- 2020’s average of $338
- 2019’s average of $324.
There was 1 waterfront home sold in Miami Shores in March selling at $321/SF, compared to:
- February’s average – $550 (1 sale – fixed bridge)
- January’s average – no waterfront sales
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Top 3 Sales in Miami Shores in March (by square footage)
- One of a kind architectural beauty on 23,000 SF lot, built in 2021 with 5 bedrooms / 5.5 bathrooms and over 4,000 SF of living space. Listed for $3.350 in August of 2020 and selling for $3,250,000 ($807/SF)
- Beautiful golf course home at 667 NE 105th St with 3 bedrooms / 3.5 bathrooms and 2,356 SF on 14,600 SF lot. Purchased for $870,000 in September of 2019, re-listed for $1,599,000 in December 2020 and selling for $1,400,000 ($670/SF) **cash transaction
- Beautiful 1924 home at 485 NE 94th St with 4 bedrooms / 3 bathrooms and 3,364 SF on 19,964 SF lot. Listed for $1,748,000 in October 2020 and selling for $1,610,000 ($562/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:
- Decreased inventory and more demand with only 1 month of inventory and aggressive SELLER’s MARKET
- Average Sales Price has increased to $716,000
- Average Discount is 6%
- Sweet spot in sales are homes priced between $400,000 – $1.5 M
- 24.6% of all deals are CASH
- 76.9% of buyers are primary residents
- Buyers are coming from U.S., Argentina, Brazil, Colombia and Spain
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We have buyers actively looking in Miami Shores right now. If you are considering selling your home, please contact us ASAP!