Normandy Shores Real Estate Trends Report: Comprehensive October 2024 Analysis
How is the Normandy Shores Real Estate Market Doing?
There are currently 9 homes for sale, (compared to 14 last month)
- Highest priced listing is $13 Million for the 2025 New Construction at 535 N Shore Dr with 5 bedrooms / 6 bathrooms, 5,094 Sq.Ft. of living space, 10,200 Sq.Ft. lot and 60′ of open bay water frontage ($2,552/Sq.Ft.)
- Lowest priced listing is $1,550,000 for the 4 bedroom / 2 bathroom home on the golf course, with 2,327 Sq.Ft. and 7,20o Sq.Ft. lot at 415 S Shore Dr ($666/Sq.Ft.)
- Pending Sales (Properties under contract): 4
- Median Sales Price in October: no sales ( no sales last month either)
- Closed Sales in October: no sales (compared to no sales last month)
What is the average price per square foot in Normandy Shores?
There were no Normandy Shores sold in October. Previous months as follows:
| month/yr | non waterfront | # of sales | waterfront | # of sales |
|---|---|---|---|---|
| September | 0 | no sales | 0 | no sales |
| August | $703 | 2 | $1,478/SF | 1 |
| July | 0 | no sales | 0 | no sales |
| June | 0 | no sales | 0 | no sales |
| May | $719/SF | 2 | $1,411/SF | one sale |
| April | $548/SF | one sale | $1,943/SF | one sale / open bay |
| March | 0 | no sales | 0 | no sales |
| February | 0 | no sales | $812/SF | one sale |
| January | $674/SF | one sale | 0 | no sales |
| 2023 | $670/SF | no sales | $1,326/SF | – |
Normandy Shores Real Estate Micro-Stats
Feel free to download our complete market report for the last 12 months, showing micro-stats for Real Estate Normandy Shores
- Buyer’s market with 11 months of inventory at the current rate of sales
- Average discount is 8%
- Average sales price is $1.9 Million
- Price-range moving is between $1-1.5 M and most inventory is above $2M
- 60% of deals are CASH transactions
- 88.2% of all buyers are primary residence owners
- Top international Migration into Miami Beach is coming from Colombia and Argentina comes in second.
- Top Domestic Migration into Miami Beach is coming from New York and California comes in Second.
DOWNLOAD NORMANDY SHORES POINT MARKET REPORT
Let’s TAlk DATA in Normandy Shores
Let’s talk about what’s happening in the local real estate market—it’s pretty interesting! Recently, homes that sold closed at an average price of $2 million, while the ones still on the market are listed much higher, averaging $3.2 million. On average, buyers managed to snag an 8% discount off the list price when they closed a deal.
In the past year, we’ve seen 17 homes sold compared to the 15 that are currently active, which is out of a total of 585 households in the area. When it comes to price per square foot, closed sales averaged around $934, while the active listings are sitting at $1,173.
Here’s a fun fact: homes that sold took an average of 205 days to find their new owners, while the active ones have been on the market for about 111 days so far. In total, the area’s sales volume over the past 12 months reached an impressive $33.4 million. Definitely some numbers worth watching!
We prepare a NORMANDY SHORES Real Estate market report on a monthly basis and publish it on the third 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.