surfside-real-estate-market-report-june-2016

Surfside Real Estate Market Report – June 2016

Surfside Real Estate Market Report

There are currently  33 Surfside homes for sale: (compared to 36 in May)

  • Highest priced listing: $5,000,000 (for the partially renovated, Biscaya Island home with 100′ of water frontage, located at 1332 Biscaya Dr)
  • Lowest priced listing: $669,000 (8934 Harding Ave)
  • Pending Sales: 9 (compared to 7 in May)
  • Closed sales in June: 5 (compared to 3 in May)
  • Median Sales Price in June: $696,000

The 5 Surfside homes sold in June were the following:

  • 420 88th Street – 3 bedrooms / 2 bathrooms, 1,552 SF on 5,600 SF lot – listed for $659,000 in February, with several price reductions and closing at $500,000 ($322/SF)
  • 8801 Emerson Ave – 3 bedrooms / 1 bathroom, 1,555 SF on 6,860 SF lot – listed for $630,000 in March and selling for $600,000 ($386/SF)
  • 8827 Carlyle Ave – 4 bedrooms / 2 bathrooms, 2,000 SF on 5,600 SF lot – listed for $845,000 in February, with several price reductions and selling for $667,000 ($334/SF)
  • 9565 Byron Av – 4 bedrooms / 2.5 bathrooms, 1,737 SF on 5,600 SF lot – listed for $799,000 in July of 2015, with 2 price reductions and selling for $660,000 ($380/SF)
  • 1437 Biscaya Dr – 5 bedrooms / 5.5 bathrooms, 4,215 SF home on the bay with 16,000 SF lot with 100′ of water frontage – listed in Agust 2015 for $3,899,000, reduced several times and selling for $2,950,000 ($700/SF)

The average selling price per square foot for Surfside homes not in the water in May was $356 compared to:

  • May average $373
  • April average $396
  • March average $372
  • February average $338
  • January average $390
  • 2015’s average of $350.

Although average price per square foot continues to drop on a month-per-month basis, it doesn’t mean prices are going down in Surfside.  The price drop has to do with the nature of homes that have sold.  If you look at 2015’s average of $350, May’s number continues to be higher.  What’s important to note is that inventory continues to decrease.  There are plenty of buyers waiting for the right home to appear in Surfside and when that happens, they fly off the market.  Pay attention to finishes and what makes a home “marketable” when you are doing upgrades.  Not all upgrades will give you a good return, it’s good to contact a local REALTOR that knows what buyers are looking for. We are here to give you a no-obligation listing consultation where we discuss not only price, but condition of your home and give recommendations for how to best show. The only waterfront home sold in Surfside in June sold for $700/SF which is higher than 2015’s average of $634/SF.

Surfside Home of The Month

Miamism Sales Team features the Surfside waterfront property located at 924 88th Street. Mid-century home in need of renovations, built in 1954 with what seem to be great bones. 3 bedrooms / 3 bathrooms, 3,071 SF of living space on 15,075 SF lot with 75′ of water frontage. . The marketing description reads: Asking price is $2,489,000 ($729/SF) 924 88 St- Surfside via miamism.com Please contact us for more information and we will also be happy to arrange a showing appointment.  


To get a FREE, no obligation CMA (comparable market analysis) go to MiamismValue.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

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