Surfside Real Estate – monthly market report – September 2021
How is the Real Estate Surfside Market Doing?
There are currently 14 Surfside homes for sale (compared to 13 last month):
- 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)
- Lowest priced listing: $875,000 for the remodeled 3/2 at 8835 Hawthorne Ave ($599/SF)
- Pending Sales: 7 (homes with a sales contract that have not yet closed)
- Closed Sales in September: 7 (compared to 11 in August
- Median Sales Price in September: $870,000
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What sold in Surfside last month?
For a list of all properties sold in September 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 September for homes not on the water was $441, compared to:
- 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
The average sold price per square foot for Surfside waterfront homes in September was $1,530 (one sale), compared to previous months:
- 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 September (by price per square foot)
- Waterfront home located at 600 88th St, sold as restoration or development project with 15,075 SF lot and 75′ of water frontage. Home has 2,451 SF of living space, 3 bedrooms and 2 bathrooms. Originally listed for $4 Million in October of 2019, showing a deal that fell through. Relisted for $2.75M in June of 2020, then increased to $3.75 M in August of 2020 with several price increases throughout 2021 up to $5 Million. MLS shows a sale for $3.75M in August of 2021 and then again for the same price in September of 2021. ($1,530/SF) ** Cash Transaction
- Renovated 2 bedroom/ 2 bathroom + den home at 9456 Abbott Ave on 5,600 SF lot. Home was originally listed for $949,980 in January of 2021, showing 2 contracts that fell through and price increase to $1.1 M and then $1.2 M – selling at $1,015,000 ($641/SF) **cash transaction
- 1953 built home at 9025 Hawthorne Ave with 3 bedrooms / 2 bathrooms, 1,704SF on 5,600 SF lot. LIsted for $895,000 in July and selling for $895,000 ($525/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 2 months of inventory
- Average Sales Price is $1.3 Million
- Average Discount is 7%
- Sweet spot in sales are homes priced between $700,000 – $800,000
- 64.7% of all deals are CASH
- Buyers are coming from the US, Canada, Argentina, Brazil and France
- 64.1% of buyers are primary residents