Surfside Real Estate Market Report for July 2015

Surfside Real Estate Market Report

There are currently  25  Surfside homes for sale (compared to 19 in June):

• Highest priced listing: $5,000,000 (waterfront fixer upper at 1332 Biscaya Dr)
• Lowest priced listing: $565,000 $560,000(9057 Carlyle Av)
• Pending Sales: 6 (2 less than last month)
• Closed sales in July: 7 (compared to 4 in June)

The 7 Surfside homes sold in July were the following:

• 9049 Carlyle Av – 2 bedrooms / 1 bathroom, 1,189 sq.ft. on 5,600 sq.ft. lot – originally listed for $599,000 with several price reductions and selling for $552,000 ($464/SF)
• 8874 Carlyle Av – 2 bedrooms / 2 bathrooms, 1,855 sq.ft. on 6,860 sq.ft. lot – sold in November of 2014 for $595,000, re-listed in July for $575,000 and sold for $530,000 ($286/sq.ft.)
• 9356 Abbott Av – 3 bedrooms / 2 bathrooms, 1,859 sq.ft. on 5,600 sq.ft. lot – originally listed in February for $679,900, with a contract that fell through, price reductions and finally selling for $599,000 ($322/sq.ft.)
• 9181 Byron v – 3 bedrooms / 2 bathrooms, 1,984 sq.ft. on 5,600 sq.ft. lot – listed for $749,900, selling for $730,000 and re-listed 3 days later at $895,000 (selling price per sq.ft. at $368)
• 411 88 St – 3 bedrooms / 3 bathrooms, 2,149 sq.ft. on 6,860 sq.ft. lot – listed in may for $757,000 and selling for $740,000 ($344/sq.ft.)
• 9140 Dickens Av – 3 bedrooms / 2 bathrooms, 1,814 sq.ft. on 5,600 sq.ft. lot – sold in June of 2014 for $462,000 – re-listed in December of 2014 for $799,000 – showing a contract that fell through and price reduction and selling for $740,000 ($408/sq.ft.)
• 8866 Abbott Av – 3 bedrooms / 2 bathrooms, 1,910 sq.ft. on 5,600 sq.ft. lot – sold September of 2014 for $465,900, re-listed for $779,000 in March and selling for $740,000 ($387/sq.ft)

The average selling price per square foot for Surfside homes in July was $368, which puts Surfside back on track – compare this to past months:

• June $328
• May $355
• April $347
• March $363
• February $316
• January $321

Keep in mind that 2014’s average was $324, so it is normal to see fluctuations from month to month. We are seeing a lot of flipping in Surfside because of the low inventory and high demand.  Fixer uppers are being bought and remodeled quickly for a nice profit.  This is a clear sign that buyers want move-in condition – think about this when you are ready to sell your home.  You will get top dollar only if your home is in move-in condition. Call us if you are thinking about selling or know of someone who is, since we are Surfside Real Estate Specialists.  We will do a no-obligation consultation to let you know the value of your home in its current condition and will make recommendations of quick updates to sell for top dollar.

Surfside Home of The Month

Miamism Sales Team recommends the Surfside home located at 9440 Bay Drive.  The recommendation is more for the land than the home with 9,100 sq.ft. lot on the water.  The home on the property needs complete renovation, was built in 1957 and hs 3,159 sq.ft. of living space, creating a nice print for a new property or complete renovation. It is offered at $1,700,000 Please contact us for more information and we will also be happy to arrange a showing appointment.

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To sign up to our Home Trends Reports, go to MiamismTRENDS.com and fill in your information. Call us Today for a listing appointment! If you are interested in getting a list of all properties currently for sale in Surfside, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at Surfside@miamism.com