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Miami Shores Real Estate Market Report for 2018

Ines Hegedus-Garcia
ines@miamism.com

Another year under our belt and Miami Shores continues to defeat the odds.  When you have a village like Miami Shores, that historically has never seen a down side, it's easy to make real estate decisions.  Year after year, The Shores has been resilient to media doom with conservative appreciation, even when the market has slowed down.

Of course there will be those that overprice and when they sell at market, get a false sense of decreased market pricing, but that's not the case.  Let's look at 2018's numbers, analyze real conditions to help us look ahead to 2019 market conditions.

Miami Shores Homes - Price per Square Foot

Looking at past years is key to see improvement — it is evident that Miami Shores homes continue to appreciate — here’s the average price per square foot of Miami Shores homes in the past 10 years:

    Year Price per SF
    2018 $317/SF
    2017 $293/SF
    2016 $278/SF
    2015 $264/SF
    2014 $236/SF
    2013 $215/SF
    2012 $181/SF
    2011 $166/SF
    2010 $158/SF
    2009 $153/SF

    Miami Shores' community size, location and architecture makes it a desirable place to live.  Although we see an obvious increase in price per square foot, we are in a buyer's market, so it's key for you to really understand how this market behaves.

    Don't forget about our REAL-TIME market reports, you can sign up by visiting MiamismTRENDS.com - this will help you stay on top of the pulse of the market to know when it's best to buy or sell.  And we also prepare Miami Shores market reports on a monthly basis, posted on the first days of every month.

    Miami Shores Real Estate Market Report for 2018

    The general figures for Miami Shores homes in 2018 are the following:  (click HERE to see 2017 figures)

    • There were 200 Miami Shores homes sold in 2018. The median sales price was $585,000 compared to $530,000 in 2017, $544,000 in 2016, $456,000 in 2015, $440,000 in 2014 and $390,000 in 2013.
    • The highest sale in Miami Shores in 2018 was for the bay-front home at 9275 N Bayshore Drive which sold for $3,550,000 and $696/SF.  The Miamism Sales Team had previously sold this same house for $4 Million in 2014.
    • The highest sale per square foot in Miami Shores in 2018 was $967 for the bay-front home located at 1460 NE 101 St.  This property was originally listed for $3.85 Million and sold for $2,781,400 almost 2 years later.
    • The highest dry lot sale (not waterfront) in Miami Shores in 2018 was for the new construction at 1201 NE 96 St which sold for $1.8 Million ($487/SF)
    • The highest sale per square foot in Miami Shores for a dry lot sale in 2018 was for the mid-century, completely remodeled home at 1045 NE 97 St.  This home sold for $965,000 and $504/SF
    • The lowest Miami Shores home sold in 2018 was for the tear down property at 290 NW 111 St.  This 2 bedroom / 1 bathroom home sold for $175,000 ($182/SF)
    • The lowest sale per square foot in Miami Shores in 2018 was the foreclosure home at 10555 NE 2 Ave that sold for $152/SF.
    • Only 4 homes sold under $300,000
    • The average price per square foot in Miami Shores in 2018 coming in at $317 compared to $293 in 2017, $278 in 2016, and $264 in 2015.

    List of Miami Shores Homes Sold in 2018

    To get a list of all Miami Shores homes sold in 2018, please contact us.

    I LOVE MIAMI SHORES magnets

    If you want one of our free, I LOVE MIAMI SHORES magnets for your car and/or refrigerator, send us your contact information, including name, telephone number and address to miamishores@miamism.com.

    Miami Shores Future

    Miami Shores has come a long way, can you believe that downtown Miami Shores has sewers now?? That was a long process but now seeing new restaurants popping up and great new businesses that will depend on the support of the community.  Some amazing new businesses include Flight Lounge, Cote Gourmet under new ownership, Artsy Hive, Pebble & Vine, Lucio/Wine Shop, Mima Market and some new restaurants and shops coming soon as well.  Our long vision for a revived downtown Miami Shores is coming to life!

    Plaza 98 - January Event

    Plaza 98 is back, so make sure to join the community at the pedestrian plaza on the second Saturday of every month from 5-8 PM.  You'll be able to meet your neighbors, have some food and drinks, get to know new businesses and have fun!  The next event is on January 12th, mark your calendars.


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