Miami Shores Real Estate – monthly market report – May 2021
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)
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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
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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 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
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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)
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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:
- 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
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Market Reports for The Tri-villages
