According to the MLS, over the last six months in Miami Beach there were 106 single family homes sold in Miami Beach.  The image below notes where some of these sales occurred.  If you were to drive around Miami Beach on the “popular streets” you may not even realize that we have pretty spectacular neighborhoods tucked away in seclusion and off the beaten path.

One key issue to know is that if you are looking into purchasing a Miami Beach home, although the prices have come down from previous markets; if you are expecting modern updates, they may not be as inexpensive as what you may think.  (At least this is the feedback from a few of my current buyers).

***Just going by varied price points that my buyers give me…

• Out of these 106 homes that sold over the last six months, 20 sold for $400,000 or less.  9 were REOS and 4 were short sales
• In the $500 to 800,000 price point 29 sold.  9 were REOS and 3 were short sales

One property that sold that was not a short sale or REO was a Biscayne Point Island home.  It was a 4 bedroom/ 2 bath, 2865 square foot home located on Daytonia Road.  It was an Estate Sale property, listed at $1.193 million and sold for $800,000.  In relation to Collins Avenue (the road that goes north and south up and down Miami Beach close to the ocean, it’s directly across from about 79th street).

Map view of home that sold on Daytonia in Miami Beach.

Pictures of property:  It was a 1953 year old home and sold as-is

• In the $800,000 plus price point there were 47 sales.  2 were REOS and 2 were short sales

One property that sold was a massive Pine Tree Drive property.  The last listing price was at $9.5 million and it sold for $8 million.  It has 8 bedrooms/ 10.5 bathroom and 11,638 square feet.

Specifically speaking to waterfront single family homes in Miami Beach, if you are looking for the best deals, based on what has closed over the last six months if you want to spend no more than $600,000 it looks like the area from 77th street to 85th street on the Biscayne Bay side of Miami Beach (also known as Biscayne Point Island/ Stillwater area) may have some of the best closing prices.  10 sold that were listed at $600,000 or less.  (& then again 33 sold that were $601,000 plus).

See map below of this area:

Market Analysis Report:  Sold Miami Beach Waterfront Properties that sold over last six months listed at $600,000 or less.

The compilation of listing and market data information is provided by the REALTORS Association of Greater Miami and the Beaches. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental.

I do my best to double check for accuracy, however I am human and errors can occur. Please contact me if you find something that doesn’t look correct and I will be happy to look into it and correct if necessary.

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