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Miami Shores Real Estate Trends Report: Comprehensive May 2024 Analysis

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How is The Miami Shores Market Doing? Compared to a year ago?

There are currently 62 homes for sale: (compared to 51 a year ago)

  • Highest priced listing is $9,495,000 $8,950,000 for the bay front home with 4 bedrooms / 4.5 bathrooms, located at 9301 N Bayshore Dr.  This 1955 home has 4,225 Sq. Ft of living space, a 13,968 Sq. Ft. lot with 84′ of open bay frontage ($2,247/Sq.Ft. $2,228/Sq.Ft.)
  • Lowest priced listing is $920,000 $919,000 for 3 bedroom / 1 bathroom home at 41 NW 107th St.  This home has 1,081 Sq.Ft. of living space and sits on 9,225 Sq.Ft. lot ($851/Sq.Ft. $850/Sq.Ft.)
  • Pending Sales (properties under contract): 24 (compared to 23 a year ago)
  • Median Sales Price in May: $1,260,000 (compared to $1,293,000 a year ago)
  • Closed sales in May: 8 (compared to 16 in May of 2023) 

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 $720 compared to $662 in May of 2023. Previous averages as follows:

There were no Miami Shores waterfront homes sold in May this year or last year the same month. Previous averages as follows:

  • April’s average $786
  • March’s Average $1,298 (one sale)
  • February’s Average – no waterfront sales
  • January’s Average – no waterfront sales

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 

Miami Shores market stats for may 2024 via miamism
  • Balanced market with 6 months of inventory (doesn’t favor sellers or buyers)
  • Price-range moving the most continues to be between $1-1.5 Million and most inventory is above $1 Million
  • Average sold price is $1.3 Million
  • 38.4% of all deals are CASH
  • 92.9% of all buyers do so as primary residents (homestead and live in their homes)
  • Seller concessions are now 20.8% of all sales, averaging $13,000 (contribution from seller to buyer)

DOWNLOAD MIAMI SHORES 3D MARKET REPORT

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.

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