Miami Shores Real Estate Trends: February 2023 Market Analysis and Insights
We prepare a Miami Shores Real Estate market report on a monthly basis and publish it on the first week of each month, reflecting data from the previous month. Contact us if you would like to receive this directly in your inbox and can unsubscribe any time.
How is The Miami Shores Market Doing? Compared to a year ago?
There are currently 52 homes for sale: (compared to 18 a year ago in February)
- Highest priced listing is $7,770,000 for the new construction at 1275 NE 93 St with virtual replica NFT and own parcel of land in Social Business Lifestyle Metaverse of Alpha City – with 6 bedrooms / 6.5 bathrooms, 6,438 Sq.Ft. on 12,975 dry lot (non-waterfront) – listed at $1,207/Sq.Ft (and seller accepts ETH)
- Lowest priced listing is $580,000 for the 3 bedroom / 4 bathroom home at 9550 NW 2nd Ave with 1,825 Sq.FT. on 15,511 Sq.Ft. lot ($318/Sq.Ft.) **zoned duplex
- Pending Sales (properties under contract): 31 (compared to 38 a year ago)
- Median Sales Price in February: $1,200,000 (compared to $799,999 a year ago)
- Closed sales in February: 10 (compared to 7 in February of 2022)
What is the average price per square foot in Miami Shores?
The average sold price per square foot in Miami Shores in February for homes not on the water was $604 compared to $540 a year ago. Previous averages as follows:
- January’s average $688
- 2022’s average of $589
- 2021’s average of $431
The average sold price per square foot in Miami Shores in February for waterfront homes was $659 (2 sales, one was non-navigable/lake front). There were no waterfront homes sold in February of 2022. Previous averages as follows:
- January’s average $534 (one sale – non-navigable)
Miami Shores Real Estate Micro-Stats
Feel free to download our complete market report for the last 12 months, showing micro-stats for Houses for Sale Miami Shores
- Seller’s Market with 5 months of inventory
- Price-range moving the most is between $1-1.5 Million
- Average sold price is $1.2 Million
- 3 bedroom homes are the most sold and average $594/Sq.Ft.
- 56.3% of all deals are CASH
- 92.4% of all buyers do so as primary residents (homestead and live in their homes)
- Buyers are not only domestic, but coming from France, Venezuela, Argentina and Colobia
I watched your recent interview and had an idea regarding preserving historic properties. Have you thought of starting a program like they have in Charleston SC, where historically preserved homes get registered with an seal that goes on the home. These homes typically sell for more given the status.
Maybe Miami has such a program and it needs to me marketed better.
Hi Ron, not only does Miami and different municipalities have a similar program, but the National Trust for Historic Places has a special designation with a plaque and protection for those homes. They usually contact historic home owners directly to designate their homes (I know I did when I was a member of the Miami Shores Historic Board)