What is Waterfront Worth in North Beach?September 25, 2015
As we approach year’s end, many homeowners find themselves asking the big question: “Is it the right time to sell?”. Miami Beach land is in high demand – there’s no doubt about that. We are finding that buyers are flocking to Miami Beach from all over the world looking for a vacation home and are willing to pay top dollar, especially for waterfront lots. This prompts the question, “How much is waterfront worth in North Beach?”.
In today’s market, buyers are paying as much as $500 per sqft for non-waterfront homes, and up to $1,387 per sqft for waterfront homes. On average, non-waterfront homes in North Beach sell for $540,000, while waterfront homes sell for about $2M. That’s almost 4 times more!
In Normandy Shores, where waterfront properties are trading for $1.95M on average, we sold a beautiful waterfront property for $2.325M (pictured above), where the new owner plans to use the lot for a custom-built home. Long-term homeowners may be surprised to learn how much their property is worth in today’s demanding market.
Over the past 5 years, waterfront property values have almost doubled. These prices are the highest we’ve seen in years, making it the perfect opportunity to sell, in case you’ve had enough of living in paradise.
For a look at the recent home sales in North Beach, click the link below:
For those homeowners concerned about selling during the holiday season, we’re here to tell you that the demand doesn’t dwindle. The holiday season will bring you more serious buyers looking at your home. For more on this, read our 3 Perks of Selling Your Home During the Holidays.
If you want to know what your home is worth, trust the brokers who know your neighborhood best. We are your neighbors and local experts with over 20 years experience. For your home estimate, contact us at 305.403.8686 or [email protected]