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El Portal Homes Real Estate Market Report for 2013

By: Ines Hegedus-Garcia on January 19, 2014

There were 44 El Portal homes sold in 2013.  16% of El Portal homes sold in 2013 were distressed sales (short sales and foreclosures) – compared to 33% in 2012, 52% in 2011, and 72% in 2010.  Although the El Portal housing market is not recuperating as quickly as neighboring areas, 2013 was a great year with more sales and higher prices.  The average price per square foot in 2013 was $176 which is a drastic increase from 2012’s average of $132. Highest sale coming in at $271/ sq.ft. and the lowest at $72/sq.ft.

El portal remains to be a small community with improving infrastructure.  Inventory remains low with currently only 18 homes for sale ranging between $190,000 for a 2 bedroom / 1 bath home located at 500 NW 87 St and $550,000 for remodeled 4 bedroom / 3 bathroom home at 125 NW 86 St.

Out of the 18 El Portal homes for sale right now, 4 are foreclosures – so it’s not unusual to still find distressed sales in this area.


The 3 highest El Portal homes sold in 2013 were the following:

  • 140 NW 88 St – a 2,411 sf, totally remodeled mid-century home with 3 bedrooms and 3 bathrooms, on a 9,800 sf lot.  Listed for $459,000 and selling for $459,000.
  • 6 NE 89 St– a 4,000 sf  wood-framed Florida vernacular built in 1910, totally restored with typical wrap-around porch for breezes, with 5 bedrooms / 5 bathrooms, on a 12,488 sq.ft. lot.  Originally listed in 2012 for $769,000, dropped to $649,000, then $559,990 and finally to $499,990 in January of 2013 and selling for $456,000.
  • 255 NE 89 St– a 1,903 sf mid-century home with 4 bedrooms and 2 bathrooms, on a 6,950 sf lot.  Listed for $399,000 and selling for $410,000.

There are still good buys in El Portal but people are getting smart and are remodeling before selling because they know they can get a lot more money.  Don’t be surprised if you see a lot of sales above listing price because competition is fierce.  Buyers are willing to pay above appraisal value because the inventory is scarce and move-in-ready homes are hard to find.

To Sell your El Portal Home or if you want to buy, please email us at and we will be happy to help.

Do you want to buy or sell your Miami Condo or Home? Contact Ines Hegedus-Garcia for Team Miamism. We pride ourselves in top customer service and have become a go-to source for the media when it comes to Miami and Miami Beach real estate market knowledge. And we answer our phone!

Call Ines: 305-206-9366


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