Surfside Real Estate Market Report for 2020
2020 proved to be a challenging year in every way, but it also confirmed that the Surfside single-family home market was strong and its desirability would be strengthened after stay-at-home orders due to COVID-19. Buyer demands and home preferences shift would be key to the heightened popularity of Surfside homes.
The highest listing right now is a brand new, modern home on Indian Creek canal, facing Bay Harbor Island. Located at 9408 Bay Drive, listed for $6,995,000 and just completed. It has 7 bedrooms, 8/5 bathrooms, 9,252 SF with 50′ of water frontage ($756/SF).
The lowest listing is the 50’s fixer upper at 9125 Carlyle Ave. This is a 2 bedroom/2 bathroom home with 1,320 SF asking $649,000 ($492/SF)
Out of the 62 homes sold in Surfside in 2020, only 6 were waterfront, and those sold at an average price per square foot of $689 and ranging between $486 and $1,125/SF.
Let’s start by taking a look at price per square foot changes for non-waterfront homes in Surfside.
Download our latest 3-D Market Analyzer HERE.
Surfside Homes – Price per Square Foot
Here is a list with average price per square foot in the past years for Surfside homes not on the water:
| Year | Price per SF |
|---|---|
| 2020 | $416/SF |
| 2019 | $386/SF |
| 2018 | $360/SF |
| 2017 | $382/SF |
| 2016 | $377/SF |
| 2015 | $350/SF |
| 2014 | $324/SF |
| 2013 | $270/SF |
| 2012 | $233/SF |
| 2011 | $193/SF |
Although the current single-family home market is a balanced market (not favoring sellers or buyers), with 7 months of inventory. We are seeing a push in demand again and multiple-offer scenarios on homes that first come on the market. The average price selling right now and Surfside’s “sweet spot” is between $700-$800k.
Some interesting data from 2020 is that 40.4% of all sales were cash transactions, 77.1% of all purchases are for primary residence purposes and buyers were not only from the U.S. but from Italy as well.
We offer market reports on a monthly basis for you to stay on top of the pulse of the market (2nd week of every month). These reports help you identify the best time to buy or sell.
Download our latest 3-D Market Analyzer HERE.
Surfside Real Estate Market Report for 2020
The general figures for Surfside homes in 2020 are the following: (click HERE to see 2019 figures)
- There were 62 Surfside homes sold in 2020. The median sales price was $740,000.
- The highest sale in Surfside in 2020 was for the bay front home at 1276 Biscaya Dr. This home was originally listed for $6,295,000 in December of 2019 and sold for $5.525 Million in November of 2020. ($1,125/SF) **cash transaction and also highest price per square foot in 2020.
- The highest non-waterfront home sale in Surfside in 2020 was for the completely remodeled home at 8848 Froude Ave with 4 bedrooms / 3 bathrooms, 2,614 SF of living space and 8,400 SF lot. ($523/SF)
- The lowest Surfside home sold in 2020 was located at 9064 Harding Ave. This home was in original condition and originally priced at $610,000, with a few price reductions and selling for $465,000 ($331/SF).
- The lowest Surfside home per square foot was the home located at 9257 Bay Dr. Fixer upper with 4 bedrooms / 3 bathrooms, 2,862 SF on 8,688 SF lot. It was listed for $874,000 and sold for $718,000 ($261/SF) **cash transaction
- There were only 2 sales under $500,000 in 2020.
Download our latest 3-D Market Analyzer HERE.
List of Surfside Homes Sold in 2020
To get a list of all Surfside homes sold in 2020, please contact us.