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Miami Shores Real Estate Market Report for June 2014

Ines Hegedus-Garcia
ines@miamism.com

Miami Shores Homes – Real Estate Market Report

Miami Shores Real Estate Market Reports by Miamism.com

There are currently 86 Miami Shores homes for sale: (1 more than last month)

  • Highest priced listing is $4,250,000 (9275 N Bayshore Dr) – Bayview House - Bay front property just listed
  • Lowest priced listing is $249,900 (272 NW 111 Te) – Foreclosure
  • Pending Sales (Properties under contract): 48 (4 more than last month)
  • Closed sales in June:  14 (2 less than last month)

The 14 Miami Shores homes sold in June were the following:

  • 10166 NE 12 Av - originally listed for $979,000 in February and selling for $901,130 ($320/SF)
  • 1259 NE 97 St - originally listed for $699,000 with a price reduction, and selling for $600,000 ($249/SF)
  • 35 NE 92 St - originally listed for $637,000 with several price reductions and selling for $599,500 ($278/SF)
  • 1550 NE 104 St - listed for $599,000 and selling for $591,500 ($286/SF)
  • 39 NW 100 St - listed for $595,000 and selling for $560,000 ($233/SF)
  • 1022 NE 91 Te - originally listed for $560,000 with several purchase contracts before selling for $555,000 ($222/SF)
  • 429 NE 101 St - originally listed for $615,000 with several price reductions and selling for $521,600 ($198/SF)
  • 9929 NE 4th Ave Road - listed for $550,000 and selling for $535,000 ($229/SF)
  • 800 NE 97 St - listed for $535,000 and selling for $475,000 ($235/SF)
  • 1060 NE 104 St - originally listed for $629,000 in November of 2013, with several price reductions and selling for $455,000 ($183/SF)
  • 141 NW 96 St - listed for $495,000 and selling for $470,000 ($236/SF)
  • 10301 N Miami Av - listed for $339,000 and selling for $335,000 ($201/SF)
  • 10239 NE 12 Av - short sale originally listed for $380,000, reduced to $330,000 and selling for $428,000 ($203/SF)
  • 114 NE 103 St - listed for $245,000 in February of 2014, increased to $275,000 in March and sold for $265,000 ($158/SF)

The average sales price per square foot for Miami Shores homes in June was $231 compared to:

  • May $226
  • April $222
  • March $248
  • February $190
  • 2013 annual average $215

Miami Shores real estate inventory remains steady and many will agree is low, with "move in" homes selling in 2 months or less.  The price increase is slow and conservative which makes residents feel good about the staying power of our market and not a "bubble" as many of the condo economists predict.  Buyers are coming from markets that show a lot of fluctuation and we are seeing the sweet spot at around 1/2 a million dollars.  This means that if your home is valued at around $500,000, it is the inventory that is moving the quickest.

Notice how price varies depending on location and condition of home.  We would be glad to visit your home for a no obligation market analysis of your property, or you can visit these links for the following:

CHECK YOUR CURRENT HOME VALUE

GET A FREE SELLER GUIDE

NAME YOUR SELLING PRICE

If you are interested in getting a list of all properties currently for sale in Miami Shores, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at MiamiShores@miamism.com


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