Miami Shores Real Estate – monthly market report – November 2021
How is the Miami Shores Real Estate Market Doing?
There are currently 28 homes for sale: (compared to 25 in October)
- 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 $699,000 for the 2/1 at 109 NE 104th St ($576/SF)
- Pending Sales (Properties under contract): 30
- Median Sales Price in November: $1,075,000
- Closed sales in November: 13 (compared to 16 in October)
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What sold in Miami Shores last month?
For a list of all Miami Shores homes sold in November 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 October for homes not on the water was $568, compared to:
- October’s average $492
- September’s average $510
- August’s average $541
- July’s average $449
- June’s average $455
- May’s average $402
- April’s average $435
- March’s average $421
- February’s average $368
- January’s average $332
- 2020’s average of $338
The average sold price per square foot in Miami Shores in October for waterfront homes was $473 (bothlake front/non-navigable), compared to:
- October’s average – no sales
- September’s average $881
- August’s average – no sales
- July’s average $1,453 (1 sale)
- June’s average – no sales
- May’s average – no sales
- 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 November (by square footage)
- Brand New Construction at 899 NE 92 St with 4 bedrooms / 4.5 bathrooms, 2,825 SF on 10,500 SF lot. Incredible industrial meets modern creative design like no other in The Shores. Originally listed for $1.5 Million while under construction in June of 2020, increased to $2 Million, decreased to $1.9 Million and then increase again to $2.85 Million in September of 2021 and decreased to $2.5 M in October. Sold for $2.5 Million ($885/SF)
- Big home East of Biscayne located at 1177 NE 100th St with 5 bedrooms / 4.5 bathrooms, 2,984 SF on oversized 17,550 SF lot. We sold this home back in August of 2016 for $1.45 Million, new owner did some remodeling and listed it for $2.599 Million in September and sold for full price ($871/SF) **cash transaction
- Busy Biscayne Blvd location at 10125 Biscayne Blvd, across from the Country Club. This 3 bedroom / 3.5 bathroom home was totally remodeled with 2,128 SF on 14,028 SF lot. It was listed for $1.475 Million in May and sold for full price ($693/SF) **cash transaction
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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 continues to be an aggressive SELLER’s MARKET
- Average Sales Price continues to increase and is now at $920,000
- Average Discount is 6%
- Sweet spot in sales are homes priced between $1.0 and $1.5 Million
- 29.1% of all deals are CASH
- 75.7% of buyers are primary residents
- Buyers are not just local and from other US cities, but also from Argentina, Colombia, France and Italy.
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Market Reports for The Tri-villages
