Miami Shores Real Estate - monthly market report - October 2021

How is the Miami Shores Real Estate Market Doing?

There are currently 25 homes for sale: (compared to 24 in September)

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 October please email us at MiamiShores@miamism.com

The average sold price per square foot in Miami Shores in October for homes not on the water was $492 compared to:

There were no Miami Shores Waterfront Homes sold in October, compared to previous months:

Beautifully remodeled mid-century modern at 1075 NE 99th St with 4 bedrooms / 3 bathrooms, 1,897 SF on 12,249 SF lot. This house was purchased for $990,000 in May of 2018, listed for $1,585,000 in September of 2021 and sold for $1.49M ($785/SF)
Renovated home at 1351 NE 101 St with 3 bedrooms / 3.5 bathrooms, 2,370 SF on 11,255 SF lot. This house was purchased for $1,080,000 in September of 2018, listed for $1,825,000 in October and sold for $1,825,000 ($770/SF) **cash transaction
Gorgeous tri-level mid-century at 1640 NE 104 St with 4 bedrooms / 4.5 bathrooms, 3,061 SF on 8,850 SF lot. This home was purchased for $1,050,000 in March of 2020, was listed for $1,850,000 in October and sold for $1.8 Million ($588/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:

1 month of inventory and continues to be an aggressive SELLER’s MARKET
Average Sales Price has increased to $877,000 (continues to increase)
Average Discount is 7%
Sweet spot in sales are homes priced between $1.0 and $1.5 Million
29.7% of all deals are CASH
76.7% of buyers are primary residents
Buyers are not just local and from other US cities, but also from Argentina, Italy, Colombia and France.