Surfside Real Estate – monthly market report – August 2021
How is the Real Estate Surfside Market Doing?
There are currently 13 Surfside homes for sale (same as last month):
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Highest priced listing: $10,750,000 for the 6/6.5 new construction, modern home, at 1413 Biscaya Dr on the inside of Biscaya Island with 68′ of water frontage ($1,987/SF)
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Lowest priced listing: $850,000 for the 3/2 remodeled home at 8835 Hawthorne Ave ($582/SF)
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Pending Sales: 8 (homes with a sales contract that have not yet closed)
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Closed Sales in August: 11 (compared to 1 in July)
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Median Sales Price in August: $1,080,000
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What sold in Surfside last month?
For a list of all properties sold in August and Houses for Sale Surfside, please email us at Surfside@miamism.com
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What is the average price per square foot in Surfside?
The average sold price per square foot in Surfside in August for homes not on the water was $564, compared to:
- July’s average – $592 (one sale)
- June’s average – $505
- May’s average – $518
- April’s average – $511
- March’s average – $464
- February’s average – $437
- January’s average – $502
- 2020’s average of $416
Thethe average sold price per square foot for Surfside waterfront homes in August was $1,627, compared to previous months:
- July’s average – no sales
- June’s average $721 (one sale)
- May’s average – no sales
- April’s average – no sales
- March’s average – $1000
- February’s average – $829
- January’s average – $809
- 2020’s average of $689 (only 6 sales)
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Top Surfside Sales in August (by price per square foot)
- Waterfront home at 932 88th Street, built in the 50’s and renovated, with 4 bedrooms / 2 bathrooms and 1 half-bath. Home has 2,056 SF on 10,000 SF lot with 50′ of water frontage. It was originally listed for $2.45 Million in June of 2018 and canceled. Relisted again in July of 2021 for $3.7 Million and sold at full-price ($1,800/SF) **cash transaction
- Brand new (2020), waterfront construction at 9408 Bay Dr with 7 bedrooms / 8.5 bathrooms, 5,849 SF on 9,100 SF lot with 50′ of water frontage. This home was originally listed for $6.55 Million in August of 2020, then again for $6.995 Million in December of 2020 and sold for $6.9 Million in February of 2021. It was listed again for $10 Million in August of 2021 and sold for $8.5 Million ($1,453/SF)
- Beautiful 40’s home at 9065 Emerson Ave with 3 bedrooms / 2.5 bathrooms, 1,598 SF on 5,600 SF lot. Listed for $1.25 Million in May and selling for $1.3 Million ($814/SF) **cash transaction
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Real Estate Surfside Opinion
We provide a comprehensive 3D market report with in-depth data from the last 12 months that you can download HERE.
Some key points you should know:
- Seller’s Market with 1 month of inventory
- Average Sales Price is $1.2 Million
- Average Discount is 7%
- Sweet spot in sales are homes priced between $700,000 – $800,000
- 60.4% of all deals are CASH
- Buyers are coming from the US, Canada, Argentina, Brazil and France
- 64.3% of buyers are primary residents