Miami Home Sales Volume and Price Grew in 2018

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Miami-Dade County reported 12,931 single-family home sales in 2018, up 1.1% from 2017, according to the MIAMI Association of Realtors and the Multiple Listing Service (MLS) system.

This figure ranks 2018 as the fourth highest year in county history for the sale of single-family homes; according to the report, only in 2014, 2015 and 2016 did Miami see more single family home sales (the Miami Association of Realtors and the MLS have been tracking these figures since 1994).

Existing condo closings increased 5.6% to 13,863 in 2018, marking the sixth best sales year in history despite competition from the new construction condo boom.

Total residential sales volume jumped 10.7% to $12.4 billion, up from $11.2 billion in 2017.

According to the report, lack of supply in certain price ranges and neighborhoods as well as higher interest rates impacted sales.

Other notable takeaways from the report include:

  • The $300,000 to $600,000 range proved to be the most popular price point for Miami single-family homes in 2018, posting a 15.7% increase in sales year-over-year, increasing from 5,448 sales in 2017 to 6,303 in 2018.
  • The luxury segment ($1 million+) also proved to be a hot sector for single-family homes, increasing 15.9% in 2018 from 878 to 1,018 sales.
  • In 2018, cash deals represented 37.8% of Miami’s total closed sales, a decrease from 40.4% in 2017 (51.3% of  all condo closings were made in cash, while 23.3% of all single family home sales were cash deals).

Read the full report here.

Just Sold, Just Rented, and Just Reduced!

FullSizeRender 19JUST SOLD – 1050 Brickell Ave #2012, Miami, FL 33131
0 beds/1 bath (studio) | 601 sq ft | built in 2008 | sold for $222,000

Congratulations to my client on the sale of his beautiful studio at 1050/1060 Brickell! The Brickell market has proven to be quite challenging in recent months as there is a surplus of available units for sale thanks to the most recent condo boom. My seller was motivated and we priced the unit very competitively.  Ultimately, we received a cash offer with a quick closing, and everyone walked away happy!

For a recap on the details of this unit and the building, as well as more photos, click here.

 

JUST RENTED – 3103 Oak Ave, Miami, FL 33133
3 beds/2.5 baths | 2,200 sq ft | built in 2004 | rented for $4,375/month

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I just rented this fabulous Center Grove townhouse to a wonderful family relocating to Miami. If it looks familiar, that’s because it was the third transaction I’ve completed on this property in less than three years!  It’s a great property in an amazing location, just steps away from everything the Grove has to offer.

For a recap on the details of this property, as well as additional photos, click here.

 

JUST REDUCED – 4920 SW 77 St, Miami, FL 33143
7 beds/8.5 baths | 5,702 sq ft | 15,220 sq ft lot | built in 2008 | offered at $2,999,999

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My seller just reduced the asking price on this exquisite family home in the coveted Ponce/Davis neighborhood. This large family home was completed in 2008, boasts superb design and high-end detailed finishes, and is in pristine condition.  One of the best features of this property is its super private location, as it is tucked away on a lush, quiet cul-de-sac with only 3 neighboring homes. Located in an A-rated school district and just minutes from the shops and restaurants of South Miami and Sunset Place!

For a recap on the details of this property, as well as additional photos, click here.

 

For additional information on any of the above or similar properties, contact me directly at 305.799.2124 or LRubens@bhsusa.com.

Just Listed: Exquisite Family Home in Ponce/Davis Neighborhood

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4920 SW 77 St | Miami, FL 33143
7 beds | 8.5 baths | 5,902 sq. ft. | 15,220 sq. ft. lot | built in 2008 | offered at $3,150,000

I just listed this exquisite family home in the highly desired Ponce/Davis neighborhood. One of the best features of this property is its super private location, as it is tucked away on a lush, quiet cul-de-sac with only 3 neighboring homes. In fact, there’s a good chance you’ll miss the street at least once or twice while trying to find it!   Built in 2008, this bright and beautiful two-story home has been impeccably maintained and feels like new. The home boasts superb design and high-end detailed finishes, and includes 7 bedrooms, 8.5 bathrooms and 5,902 square feet of living space.  It has a wonderful floor plan with a formal living room, family room, dining room, chef’s kitchen, guest bedroom, maid’s room, laundry room, powder room and office on the first floor; and four bedrooms in addition to the master suite on the second floor. The master suite has a gracious entryway with a kitchenette, a spacious sitting room, his and hers walk-in closets, and a spa-like carrara marble master bath.

This spectacular property sits on a lushly landscaped lot with 15,220 square feet and features a sparkling pool and a large roofed patio, perfect for outdoor entertaining.  There is also a full cabana bath, a fabulous summer kitchen with built-in BBQ, and a large custom orchid house with an irrigation system.

Other features of the home include:

  • high volume ceilings
  • two-car garage and large driveway with ample parking
  • foyer entry with large glass doors
  • beautiful limestone floors on the first floor and wood floors on the second floor
  • high impact windows and doors throughout the home
  • gourmet chef’s kitchen with Carrara marble and top of the line appliances including gas cooktop, two ovens, two sinks, as well as ample cabinetry
  • fireplace on first floor with faux logs and gas starter
  • full bathrooms and ceiling fans in all bedrooms
  • blackout shades in all bedrooms
  • custom Hunter Douglas blinds and shades on all windows
  • four A/C zones
  • two septic tanks
  • designated laundry room with sink
  • fully wired for a sound system
  • sprinkler system
  • generator-ready with pad in backyard

This is a perfect family home on an incredible street in an A-rated school district –  and best of all it is totally move-in-ready.  Check out all of the gorgeous photos below, or click here to view the full listing.  For more information on this special home or to schedule a private showing, contact me directly at 305.799.2124 or lrubens@bhsusa.com.

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Just Sold: 3103 Oak Ave., Coconut Grove

p1025148352-43103 Oak Ave., Miami, FL 33133
3 beds/2.5 baths | 2,200 sf | built in 2004 | Sold for $610,000

Congratulations to my sellers who just closed on the sale of their beautiful Center Coconut Grove townhouse today!  Built in 2004, this 2-story townhouse is located in the heart of Center Grove, just steps to Cocowalk! The property has 3 bedrooms, 2 full bathrooms and a half bath on the main level.  It features a gated entry, one car garage, marble floors throughout the living areas, bamboo wood floors in the bedrooms, a walk-in closet in the master bedroom and double sinks in the master bath.

The sellers made several modern updates to the property including resurfacing the kitchen cabinets, a new, counter-depth refrigerator, new kitchen faucet, modern light fixtures, and modern railings on the staircase. The backyard was recently landscaped and features a private patio with plenty of sun and room for a pool. The home is situated across from Kirk Munroe Park and tennis courts, and is just minutes from cafes, schools and more!

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Inventory for similar properties in Center Grove continues to remain tight!  Take a look at the active listings below.  And as always, contact me today for more information about buying or selling a home in Coconut Grove or the surrounding neighborhoods!

lindsayrubens@avatarflorida.com | 305.799.2124

Active 3 Bedroom Listings in Center Coconut Grove

Address LA #Beds #FB #HB List Price LP$/SqFt YR
3333 RICE ST # 403 1751 3 3 0 938,800 536.151 2006
3036 MCDONALD ST # 4 2350 3 2 1 915,000 389.362 2006
3395 SHIPPING AV # A 2628 3 4 0 880,380 335 2015
3395 SHIPPING AV # B 2628 3 4 0 867,240 330 2015
3274 DAY AV # 3274 2862 3 2 1 849,000 296.646 2015
3276 DAY AV # 3276 2862 3 2 1 849,000 296.646 2015
3270 Day Avenue # 3270 2529 3 3 839,000 331.752 2015
3272 Day Avenue # 3272 2529 3 3 819,000 323.843 2015
2955 Bird Ave # PH A 1576 3 3 0 788,000 500 2015
3130 DAY AV # 3130 2368 3 2 1 769,000 324.747 2002
3055 INDIANA ST # 13 2350 3 2 1 769,000 327.234 2006
3241 PERCIVAL AV # 0 2592 3 3 1 759,000 292.824 2014
3333 RICE ST # 401 1644 3 3 0 749,900 456.144 2006
3258 BIRD AV # 1 2280 3 3 0 720,000 315.789 2016
3258 Bird Ave # 5 2280 3 3 0 720,000 315.789 2016
3258 Bird Ave # 6 2280 3 3 0 720,000 315.789 2016
3258 Bird Ave # 10 2280 3 3 0 720,000 315.789 2016
3059 INDIANA ST # 15 2350 3 2 1 715,000 304.255 2006
3260 BIRD AV # 2 2280 3 3 0 699,900 306.974 2016
3258 Bird Ave # 3 2280 3 3 0 699,900 306.974 2016
3258 Bird Ave # 4 2280 3 3 0 699,900 306.974 2016
3258 Bird Ave # 7 2280 3 3 0 699,900 306.974 2016
3258 Bird Ave # 8 2280 3 3 0 699,900 306.974 2016
3258 Bird Ave # 9 2280 3 3 0 699,900 306.974 2016
3060 ORANGE ST # 3060 2580 3 3 0 688,860 267 1998
3125 JACKSON AV # 3125 2410 3 2 1 669,000 277.593 1997
3101 HIBISCUS ST # 3101 1604 3 2 1 650,000 405.237 2011
2769 Coconut Ave # 2769 2476 3 3 1 650,000 262.52 2005
3269 ALLAMANDA ST # 0 2060 3 2 1 649,999 315.533 1994
3271 MATILDA ST # 3271 2130 3 2 1 625,000 293.427 2007
3273 MATILDA ST # 3273 2130 3 2 1 625,000 293.427 2007
3090 Shipping Ave # 3090 1685 3 2 1 599,900 356.024 2005
3186 NEW YORK ST # 0 2460 3 2 1 599,000 243.496 2008
3123 MARY ST # 9 1470 3 2 1 595,000 404.762 1993
2903 JACKSON AV # 12 1670 3 2 1 589,000 352.695 1997
3259 GIFFORD LN # 3259 1966 3 2 1 559,000 284.334 1996
3045 HIBISCUS ST # 3045 1922 3 2 1 549,000 285.64 2008
3045 HIBISCUS ST # 3047 1922 3 2 1 549,000 285.64 2008
2761 W TRADE AV # 2761 1510 3 2 1 539,000 356.954 1999
3103 HIBISCUS ST # 3103 1604 3 2 1 490,000 305.486 2011
3273 PERCIVAL AV # 2 2612 4 3 0 488,500 187.021 2007

Center Coconut Grove Townhouse Sells for $1,072,000

A2093616_101_123122 Virginia Street, Miami, FL 33133
4 bedrooms/3 bathrooms | 3,107sf | Built in 2001 | Sold for $1,072,000

A freestanding “mini mansion” in Center Grove closed on August 24, 2015 for $1,072,000 ($345/sf).  The property was originally listed at the end of March 2015 for $1,350,000, and had price reductions in April and May, to $1,190,000 and $1,149,000 respectively.   The listing agent was Berk Boge of Miami Real Estate Company.

According to the MLS listing, the property  was built in 2001 by “Center Grove’s most experienced developer for his own family.”  The home is larger than most in the neighborhood, complete with 4 bedrooms, 3 full baths and 3,100+ square feet of living space.  It is also a unique property in that it is freestanding (i.e. shares no walls or roof with a neighboring home, which is the norm in the neighborhood).

The listing further provides that the home features marble and wood floors throughout,  20+ feet ceilings in the foyer and formal living room, formal dining, open kitchen with snack counter and large family room.  The property also has a covered, private backyard patio with an oversized pool and summer kitchen, and a two car garage that has been converted into a fifth bedroom.

While this was the priciest townhouse sale in Center Grove over the last 12 months based on sales price (as per the MLS data), its sales price per square foot ($345) is just slightly above the average range for the neighborhood.  Situated on Virginia St. just off of Shipping Ave., the property has an ideal location just walking distance to Blanche Park dog and kiddie park and Coco Walk.

Check out more photos of the property below, or click here for a virtual tour.  For more information on this sale or other properties in the Grove and surrounding neighborhoods, contact me directly at lindsayrubens@avatarflorida.com or 305.799.2124.

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*Photos courtesy of Miami Real Estate Company