Surfside Real Estate – monthly market report – June 2021
Our hearts go out to the victims and families of the Surfside Condo Collapse. Please note that we have partnered with The Global Empowerment Mission to offer temporary housing to the families affected by the building collapse. If you have a property anywhere in Miami, and are willing to offer it as a temporary home, please contact us.
How is the Real Estate Surfside Market Doing?
There are currently 11 Surfside homes for sale (compared to 7 last month):
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Highest priced listing: $5 Million – 3/2 waterfront fixer upper with 15,075 SF lot and 75′ of water frontage, located at 600 88th Street. Increased from $4 Million ($1,776/SF)
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Lowest priced listing: $780,000 for the beautiful 3/2 at 8935 Carlyle Ave ($553/SF)
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Pending Sales: 14 (homes with a sales contract that have not yet closed)
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Closed Sales in June: 8 (compared to 6 in May)
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Median Sales Price in June: $1,145,000
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What sold in Surfside last month?
For a list of all properties sold in June 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 June for homes not on the water was $505, compared to:
- 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
- 2019’s average of $386
There was one waterfront home sold in June in Surfside and it sold for $721/Sq.Ft. the average sold price per square foot in previous months was:
- 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 3 Surfside Sales in June (by price per square foot)
- 1385 Biscaya Dr – waterfront home with 80′ of water frontage, 5,606 SF on 19,554 SF lot. This home was originally listed for $4.9 Million in February of 2020, MLS shows a contract that fell through and a series of price reductions with a sales price of $3.75 Million ($721/SF) **cash transaction
- 901 88 St – new construction with metal roof and Florida vernacular feel. This home has 4 bedrooms / 3 bathrooms, 3,071 SF of living space on 6,860 SF lot. It was originally listed for $2.2 Million in November of 2019, reduced to $1.9 Million and closed at $1.9 Million ($619/SF) **cash transaction
- 8841 Garland Ave – renovated 30’s beauty with 3 bedrooms / 3 bathrooms, 1,482 SF on 5,600 SF lot. Listed for $779,000 in October of 2020, showing 2 contracts that fell through and selling at $789,000 ($532/SF)
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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:
- Aggressive Seller’s Market with 1 month of inventory
- Average Sales Price is $1.1 Million
- Average Discount is 7%
- Sweet spot in sales are homes priced between $700,000 – $800,000
- 55.3% of all deals are CASH
- Buyers are coming from the US, Canada, Argentina, Brazil and France
- 67.8% of buyers are primary residents