Surfside Real Estate Market Report – January 2025 Trends & Analysis
Surfside’s real estate market is showing some intriguing shifts. If you’re considering buying or selling, understanding these trends is crucial. Let’s break it down—no fluff, just the essentials.
🚨 Sellers, Are You Overpricing?
There’s a $1.2 million gap between what sellers are asking ($3.6M) and what buyers are actually paying ($2.4M). That’s a significant difference. If your property isn’t attracting offers, it might be time to reassess your pricing strategy. The good news? Homes are selling—but at realistic prices.
💰 Buyers, Negotiation is Your Best Friend
On average, properties are closing 8% below the asking price—meaning there’s room to negotiate. Plus, with active listings priced $213 higher per square foot than sold properties, some sellers may have set their expectations too high. Ensure you’re paying fair market value, not inflated prices.
🏡 Market Activity & Turnover
With 36 homes sold out of 3,172 households in the past year, Surfside has a low turnover rate of about 1.1%. This suggests that homeowners tend to stay long-term. Additionally, the ratio of 45 active listings to 36 closed sales indicates a slightly oversupplied market.
⏳ Market Pace
Closed properties took an average of 130 days to sell, while current listings have been on the market for about 100 days. These timeframes suggest a relatively slow market, giving buyers ample time for due diligence.
📈 Market Size & Opportunity
The total sales volume reached $87.1 million, generating approximately $1.0 million in commissions. Given the high average prices, each transaction represents a significant opportunity. However, the low turnover rate means agents need to be proactive in finding listings.
So, What’s Your Next Move?
Sellers: If your property isn’t getting attention, it might be time for a pricing reality check. Let’s position it to sell effectively.
Buyers: Opportunities are out there, and negotiation is key. Let’s ensure you get the best value for your investment.
At Miamism, we turn confusion into clarity. Whether you’re aiming to sell smart or buy wisely, we’re here to guide you. Contact us today 🚀🏡