Surfside Real Estate Market Report for August 2014

Surfside Real Estate Market Report

There are currently  21  Surfside homes for sale: (1 more than last month)

• Highest priced listing: $4,450,000 (waterfront estate at 1292 Biscaya Dr)
• Lowest priced listing: $465,000 for a 3 bedroom / 2 bathroom home at 8811 Emerson Av.
• Pending Sales: 11 (4 more than last month)
• Closed sales in August: 5 (3 less than last month)

The 5 Surfside homes sold in August were the following:

• 8858 Froude Av – listed in June for $630,000 and selling for $627,000 ($336/sq.ft.)
• 9057 Emerson Av – originally listed in November of 2013 for $550,000, then again in June of 2014 for $570,000, and selling for $545,000 ($305/sq.ft.)
• 9357 Abbott Av – originally listed in November of 2013 for $549,000 and selling for $540,000 ($355/sq.ft.)
• 9057 Abbott Av – listed in May for $549,00, with a few price reductions, and selling for $515,000 ($286/sq.ft.)
• 8919 Harding Av – listed in March for $510,000 and selling for $450,000 ($359/sq.ft.)

The average selling price per square foot for Surfside homes in August was $328 which is considerably higher than the $287/sq.ft average this year and 2013’s average of $270.  Demand continues to increase in Surfside and inventory remains low which means that even fixer uppers and homes that need renovations are selling for top dollar.

With the new Surf Club by Richard Meier making major construction advances, those cranes are creating excitement in the area because prices start around the $3 million range for a 1400 sq.ft. residence.  Remember this is a Four Seasons, with luxury amenities, spa, restaurants which the area has been anticipating.

We have a penthouse listing just 2 buildings north of Richard Meier’s Surf Club, at The Waverly, located on the beach with direct ocean views, for $1,100,000.   It’s a 3 bedroom / 2 bathroom condo with wrap-around balcony and 10′ ceilings.

Please give us a call to schedule a showing for this property, it’s vacant and the views will take your breath away.

Remember we don’t just provide these market reports for your information and enjoyment, we are Surfside REALTORS, ready to list and market your property!  We are now also providing these quick services to help with your real estate needs:

CHECK YOUR CURRENT HOME VALUE

GET A FREE SELLER GUIDE

NAME YOUR SELLING PRICE

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