The Needle
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Market Report

Market Report

 

Market Report

with Adrian Foley

 
 
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Highlighting 33143
Single Family Homes

The 33143 zip code encompasses some of Miami’s best neighborhoods – Cocoplum, High Pines, Glenvar Heights, Ponce Davis, and South Miami. It is an ideal location with the finest schools, restaurants, and family neighborhoods. Residents have easy access to major thoroughfares and are in close proximity to Miracle Mile, Coconut Grove, Dadeland, and Pinecrest. The wide variety of homes varies from waterfront estates with private docks to inland lush acre lots.

 
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The Market

The median active list price at the end of first quarter of 2019 is $1.6M. Some of the most expensive properties currently on the market in Miami can be found in the 33143 zip code. The highest priced active listing on the market is currently offered for $45M. The median list price for active listings is $1.6M, making this a generally luxury home market.

Despite being a predominantly luxury home market, the median price for closed sales in the first quarter of 2019 is less than $1M. That amount is down year over year compared to the first quarter of 2018.

 

What to Watch
in the Second Quarter

Less than 9% of the active listings are waterfront properties with ocean or bay access and private docks. The median list price of these properties is $5.9M.

All of the active listings offer 4,500 SF or more of living space. The median list price of these waterfront properties in 33143 are 33% lower than the median price for similar sized waterfront homes with dock space in the rest of Miami- Dade County. Properties of this kind are receiving greater attention from domestic buyers considering South Florida for relocation.

 
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Large Lot
Opportunities

There are great market opportunities in 33143 for large lot homes with lots over 35,000 SF. These properties make up less than 45% of the current active listing market and their median list price is more than $1M less than that of the zip code as a whole.

The median closed sale price over the past year is just under $1M dollars, more than $500K less than the median closed sale price of similar properties in areas like Pinecrest.

 

Glenvar Heights

The pocket of homes that make up Glenvar Heights has seen a great deal of new construction activity and offers exclusive large-lot possibilities. Some of Miami’s top architecture firms have left their mark on these new estate homes being built. 6830 SW 72 Court, featured below, is a great example.
A 5 bedroom, 5 bath home on an almost acre lot with updated plumbing, newer roof, and impact windows is on the market for less than $1.5M.

If you’re interested in buying, selling, or renting, contact Adrian Foley.

Adrian Foley
305.281.1377
adrian.foley@compass.com

 
 
 



Glenvar Heights

6830 SW 72nd Court
$1,488,000
5 Bed 5 Bath 4,336 SF 38,638 SF lot

View Listing →