Miamism Blog

You are here

El Portal Homes Real Estate Market Report for 2012

Ines Hegedus-Garcia
ines@miamism.com

We aim to please ....as requested by a reader, here is a market report for El Portal, a residential area just south of Miami Shores.

There were 30 El Portal homes sold in 2012.  One third of El Portal homes sold in 2012 were distressed sales (short sales and foreclosures) –compared to 52% in 2011, and 72% in 2010.  Although the El Portal housing market is not recuperating as quickly as neighboring areas, you can see the improvement from previous years.  The average price per square foot in 2012 was $132 with the highest sale at $214 per sf and lowest sale at $62.  El Portal is still seeing a huge disparity in prices depending on location and condition of homes.

One major positive for El Portal right now is the fact that the for sale inventory is very low with only 4 homes for sale with and one of those being distressed.  There are, however, 8 homes currently under contract (5 of these are distressed sales.)

The 3 highest El Portal homes sold in 2012 were the following:

  • 360 NE 85 St – a 2,535 sf mid-century, canal-front home with 3 bedrooms and 3 bathrooms, on a 8,347 sf lot.  Listed for $485,000 and selling for $450,000.
  • 120 NE 88 St– a 2,392 sf historic home built in 1925 with 4 bedrooms and 2 bathrooms, on a 6,200 sf lot.  Listed for $439,000 and selling for $425,000.
  • 308 NE 89 St– a 2,454 sf new construction home with 3 bedrooms and 3.5 bathrooms, on a 6,850 sf lot.  Listed for $429,000 and selling for $415,000.

El Portal is one of those areas to keep an eye on because you can still find a good buy, but this will not last long - there is evidence in the stats that this housing market is also recuperating quickly.  We are here to help you when you are ready to buy or sell in El Portal.

 


Recent Posts

  • Jan 15, 2018

No real estate transaction is easy but not all of them are as complicated as this last one.  We received a referral from a Washington REALTOR and we take referrals to heart because our reputation is very important to us. ... more

Time to report about Surfside's Real Estate market in 2017.  While a lot of neighborhoods around Miami didn't fare that well last year, Surfside remained a power to be reckoned with.  The market did slow down in number of... more

To all our clients and readers with commercial properties, keep in mind there is a sales tax decrease for real property rentals which include: Commercial office or retail space warehouses self-storage units or mini... more

Is 2017 really over?? Talk about a strange year for real estate.  Strange because the media tried to push gloom and doom but they didn't really succeed.  Small cities like Miami Shores continued to appreciate but the market... more

Our Twitter

What is the Value of my Home?

Obtain a free personalized home pricing report.