Miami Beach Single Family Homes

I wanted to wait a little into January before doing this post to give everything from last year a little time to close out and update throughout my database.

Last year in 2009 in Miami Beach there were 179 sold single family homes (this is only MLS data).  In South Beach (33139) there were 25 sold homes, 89 in 33140 and 61 in 33141.  (* the missing 4 are result of wrong zipcodes, typos, etc.)

Single Family Homes in 33139 Miami Beach

The most expensive property that sold was a 7 bedroom home on Star Island that sold for $16 million.   The least expensive property that sold was a foreclosure on Lenox Avenue and it sold for $380,000 (it was listed for $293,040 and sold for $380,000.  $86,960 over asking)

Single Family Homes in 33140 Miami Beach

The most expensive property that sold was a 7 bedroom property on Sunset Islands and it sold for $9.5 million.  The least expensive was a property on Post Avenue and it sold for $295,500.  It was not a foreclosure or short sale.

Single Family Homes in 33141 Miami Beach

The most expensive property that sold was a 3 bedroom in Biscayne Point for $2.45 million.  The least expensive was a 3 bedroom near Crespi Park for $141,750.

Overall general impression of the market and price point of Homes in Miami Beach

I am basing this generalization on a few of my buyers that I have been working with over the last few months.  I have three different sets of buyers who I am working with right now and are buyers for Miami Beach homes.    All three are couples, they currently live in condos on Miami Beach, want to buy but not in a condo building.   All three are interested in starting a family so a minimum of three bedroom/ 2 bath is the basic starting criteria.

This is what my buyers have said so far into their searches.

• If you are interested in buying a home that is some what updated (bathrooms, kitchen, etc.)  you probably need to focus a little over the $550,000 price point.  A list of minimum 3/2 properties, up to $550,000 in 33139, 33140, 33141 that sold last year.
• If you can get into the $600,000-$799,000 listing price point, you will start to see more updated homes, homes with pools and waterfront homes.  Click here to see the sold data for that price point.
• If your price point is definitely under $1 million but you can afford into the $700s or $800s, stretch your search.  Go up to $899, get on an automatic search and then be patient.  You may be surprised that a really great house may just reduce into  your price point.
  
• Be sure to pay attention to taxes and insurance.  These two really important numbers will be factored into consideration in terms of if your lender will approve your loan.
• Get your pre-approval letter or if buying cash proof of funds letter ready ASAP.  For financing, it takes time for the bank to issue these approval letters these days.  There is nothing worse than finding a home you love, only to miss it because you were not prepared with your lender.

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