Surfside Real Estate – monthly market report – November 2021
How is the Real Estate Surfside Market Doing?
There are currently 13 Surfside homes for sale (compared to 10 last month):
- Highest priced listing: $13,750,000 for the waterfront property at 1380 Biscaya Dr with 6 bedrooms / 6 bathrooms / 2 half-baths and 6,499 SF with a 19,750 SF lot and 100′ of water frontage on the exterior of Biscaya Island. ($2,116/SF)
- Lowest priced listing: $899,000 for the fixer upper at 8811 Carlyle Ave with 4 bedrooms / 3 bathrooms, 1,795 SF and 5,600 SF lot ($501/SF)
- Pending Sales: 8 (homes with a sales contract that have not yet closed)
- Closed Sales in November: 3 (compared to 5 in October)
- Median Sales Price in November: $1,050,000
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What sold in Surfside last month?
For a list of all properties sold in November 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 October for homes not on the water was $651, compared to:
- October’s average – $545
- September’s average – $441
- August’s average – $564
- 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
There was one Surfside waterfront home sold in November, selling at $2,613/SF, previous months’ averages as follows:
- October’s average – no sales
- September’s average – $1,530 (one sale)
- August’s average – $1,627
- 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 November (by price per square foot)
- 940 88th St – waterfront home sold as “redevelopment opportunity” with 4 bedrooms / 3.5 bathrooms, 15,000 SF lot with 75′ of water frontage. Listed for $5.9M and selling for $5.84 M ($2,613/S) **cash transaction
- 8959 Abbott Ave – charming 50’s home with 3 bedrooms / 2 bathrooms, 1734 SF on 5,600 SF lot. This home was purchased for $799,000 in August of 2021, relisted for $1.5M (MLS shows a few increases, decreases and contracts that fell through) but closed for $1,050,000 ($606/SF)
- 8843 Carlyle Ave architectural beauty with 3 bedrooms / 2 bathrooms, 1,288 SF on 5,600 SF lot. Home was listed for $895,000 and sold for full price ($695/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:
- Seller’s Market with 2 months of inventory
- Average Sales Price is $1.3 Million
- Average Discount is 6%
- Sweet spot in sales are homes priced between $700,000 – $800,000
- 65.3% of all deals are CASH
- Buyers are coming from the US, Canada, Argentina, France & Russia
- 66.3% of buyers are primary residents