Surfside Housing Market Report for November 2013

Surfside Real Estate Market Report

**Surfside Home For Sale – see below for property sale information**

There are currently  33  Surfside homes for sale (4 more than last month):

• Highest priced listing: $6,750,000 for a waterfront estate at 1236 Biscaya Dr.
• Lowest priced listing: $498,000 for a 3 bedroom / 2 bathroom home at 8753 Abbott Av.
• Pending Sales: 5 (1 more than last month).
• Closed sales in November: 3 (compared to none last month).

The 3 Surfside homes sold in November were the following:

• 9100 Emerson – 3 bedroom / 2 bathroom home with 2,099 sq.ft. of living space and 5,625 sq.ft. lot – was listed in June of 2013 for $635,000 and sold for $565,000 ($269/sq.ft.)
• 9181 Byron Av – 3 bedroom / 2 bathroom home with 1,984 sq.ft. of living space and 5,600 sq.ft. lot – was originally listed for $650,000 in December of 2012, had a few price reductions and finally sold for $540,000 ($272/sq.ft.)
• 9033 Carlyle Av – 2 bedroom / 2 bathroom home with 1,435 sq.ft. of living space and $5,600 sq.ft. lot – Short sale listed for $465,000 in July of 2013 and selling for $250,000 ($174/sq.ft)

Although there was one distressed sale in Surfside last month, don’t let that mislead you.  The distressed inventory in Surfside is long gone (as it is in many areas of Miami).  This inventory will still come up, but will be rare and in small quantities.  The only distressed listing right now in Surfside is a short sale that happens to be a luxury listing at 1292 Biscaya Dr which is listed for $3.999 Million.

Surfside’s average price per square foot this year, based on the 36 non-waterfront homes sold to date is $270 – the highest price per square foot sold in 2013 has been $421 (for a completely remodeled home at 9565 Bay Dr) – and the lowest price per square foot sold in 2003 was a short sale at 8843 Hawthorne Av selling at $170/sq.ft.

To sell or buy your Surfside home, please contact us at Surfside@miamism.com

**9357 Dickens Ave– Mid-century modern built in 1949 but totally remodelled.  This home has 3 bedrooms and 3 bathrooms with 1,850 sq.ft. of living space and an average 5,600 sq.ft. lot.  It is priced at $357/sf which would be considered overpriced by most but considering that the current inventory in Surfside under $700,000 right now needs a lot of work, and this one is in move in condition, I wouldn’t be surprised if it sells closed to asking.  Priced at $660,000.