How is the Miami Shores Real Estate Market Doing?
There are currently 34 homes for sale: (compared to 31 in April)
- 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)
- Lowest priced listing is $650,000 for the 4/3 at 246 NW 93 St ($344/SF)
- Pending Sales (Properties under contract): 41
- Median Sales Price in May: $750,000
- Closed sales in May: 17 (compared to 33 in April)
What sold in Miami Shores last month?
For a list of all Miami Shores homes sold in May 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 May for homes not on the water was $402, compared to:
- April’s average $435
- March’s average $421
- February’s average $368
- January’s average $332
- 2020’s average of $338
- 2019’s average of $324.
There were no waterfront home sold in Miami Shores in May, previous months’ averages as follows:
- April’s average – $593 (1 sale)
- March’s average – $321 (1 sale)
- February’s average – $550 (1 sale – fixed bridge)
- January’s average – no waterfront sales
Top 3 Sales in Miami Shores in May (by square footage)
- Completely remodeled home at 265 NE 92 St with 4 bedrooms / 2.5 bathrooms, 2,376 SF on 10,240 SF lot. Listed for $1,150,000 in March and closed for $1,065,000 ($542/SF)
- Charming and renovated home at 101 NW 100th Ter with 3 bedrooms / 2 bathrooms, 1,840 SF on 9,215 SF lot. Originally listed in January of 2020 for $625,000, MLS shows contract that fell through, was relisted for $560,000, increased to $610,000 and sold for $610,000 ($460/SF)
- Remodeled, by the golf course and with mother-in-law suite located at 957 NE 99th St. This 4 bedrooms / 3 bathroom home with 1,851 on 8,925 SF lot was listed for $815,000 in January, increased to $869,000 and sold for $840,000 ($455/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:
- 2 months of inventory and aggressive SELLER’s MARKET
- Average Sales Price has increased to $747,000
- Average Discount remains at 6%
- Sweet spot in sales are homes priced between $400,000 – $1.5 M
- 25.7% of all deals are CASH
- 81.2% of buyers are primary residents