surfside-real-estate-monthly-market-report-july-2021

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.

Surfside Real Estate Benchmark for Nov 2021
Surfside Real Estate Benchmark for Nov 2021

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

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