Surfside Real Estate – monthly market report – March 2021

How is the Surfside Real Estate Market Doing?

There are currently 16 Surfside homes for sale (compared to 18 last month):

• 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)

• Lowest priced listing: $749,999 for 3/2 at 8919 Garland Ave ($375/SF)

• Pending Sales: 17 (homes with a sales contract that have not yet closed)

• Closed Sales in March: 12 (compared to 9 in February)

• Median Sales Price in March: $840,000

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What sold in Surfside last month?

For a list of all properties sold in March 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 March for homes not on the water was $464, compared to:

• February’s average – $437
• January’s average – $502
• 2020’s average of $416
• 2019’s average of $386

The average sold price per square foot in Surfside in March for waterfront homes was $1,000, compared to:

• February’s average – $829
• January’s average – $809
• 2020’s average of $689 (only 6 sales)

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Top 3 Sales in Surfside in March (by square footage)

• 9528 Bay Dr – completely renovated, waterfront home with 3 bedrooms / 2 bathrooms / 2 half baths, 2,380 SF on 13,650 SF lot with 75′ of water frontage.  This home was listed for $3.1 Million in November of 2020 and sold for $2,750,000 ($1,243/SF) **cash transaction
• 1101 89th St – older 30’s home on 12,790 SF lot with 65′ of water frontage.  Ready for remodeling with 4 bedrooms and 3 bathrooms.  Listed for. $1,495,000 in December of 2020 and selling for $1.9 Million ($896/SF)
• 8926 Irving Ave – beautiful 4/3 with 3,036 SF on 14,250 SF lot with 95′ of water frontage. Listed for $2,950,000 and selling for $2,837,500 ($861/SF) **cash transaction

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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 2 months of inventory
• Average Sales Price is $1 Million
• Average Discount is 6%
• Sweet spot in sales are homes priced between $700,000 – $800,000
• 50% of all deals are CASH
• 72.7% of buyers are primary residents

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We have buyers actively looking in Surfside right now.  If you are considering selling your home, please contact us ASAP!