The drastic fluctuation in price per square foot has to do with the quality of the inventory. April showed an increased amount of sales of homes that needed work, which are usually not as desirable and obviously sell for less. The typical buyer in Miami Shores is one that doesn't have to completely remodel a home, but is willing to do some minor work.
When comparing sales price, it is crucial to look not only at location, but also at condition of the property. West Miami Shores historically sells for less, even if homes are remodeled. East of Biscayne Boulevard homes usually sell for more, even if they are fixer uppers.
With that said, it will be interesting to pay attention to the average in the first half of 2017 to see how it compares to 2016's figures.
The Miamism Sales Team recommends the bay front home located at 9275 N Bayshore Dr. We sold this property back in December 2014 for $4 Million. It was listed for $5.4 Million and lowered to the current list price of $4.45 Million. It's a contemporary home with 5 bedrooms and 5.5 bathrooms; completely remodeled in 2008 with over 80' of wide bay frontage. The home has a 3-car garage, generator, stainless steel staircase, marble floors, floor-to-ceiling impact glass, infinity pool, summer kitchen and sits on a 13,994 SF lot.
For additional information, please check out property info below and contact us to coordinate showing appointments.
Here's a listing video we did to market it back in 2014
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