Miami Beach Real Estate Market: Upscale Charm and Value Defines North Beach, Miami Beach
Sometimes referred to as a charming small town in a big city, North Beach, Miami Beach has experienced phenomenal growth in the last few years. This exclusive family-friendly community offers spacious, multi-million-dollar waterfront and non-waterfront single family homes with spectacular golf course views. If you’re looking for value in a Miami Beach house, and a community with a family-oriented residential feel, then North Beach may just be right for you. It’s the ideal neighborhood for discerning families who want real value in a Miami Beach home but won’t compromise on luxury. Residents also enjoy prime access to cultural events, musical venues and fine dining as North Beach shares in all the city amenities and residential perks that its neighboring South Beach and Mid-Beach communities offer. So, residents and visitors can choose from a diverse and wide range of restaurants, nightclubs, and iconic hotels that line Collins Avenue up to Normandy Isle and beyond.
North Beach Homes Enjoy Steady Increase in Sales from 2018 to 2019
A homeowner’s sales strategy may include everything from staging their home to displaying flowers and lighting fragrant candles. Although, recent studies show that the most important factor in a speedy home sale is competitive pricing. When savvy homeowners price their residences more competitively, they not only sell faster, but for a higher price. There is good news from the Miami Beach Real Estate market. When comparing median sales of waterfront homes for 2018 to 2019, the average waterfront single family home sales in North Beach increased by 11%, and the average non-waterfront single family home sales increased by 4%. North Beach homes sold 20% quicker in 2019 as compared to 2018, yielding an almost 10% increase in total home sales in 2019. In this highly sought-after Miami Beach luxury homes community, competitive pricing and smart sales strategies create a winning recipe for continued success.
Notable North Beach, Miami Beach Homes Sales in 2019
Some of the most notable North Beach sales include: the highest waterfront sale in the Biscayne Point neighborhood, 1134 South Biscayne Point Road, a 5,000-square-foot, new construction built in 2019, sold for $4.8 million. The home is located at the entrance of the neighborhood with no bridges to the bay for the boat lovers! And in the exclusive Normandy Shores community, 865 Fairway Drive, a 3,100-square-foot, fully-renovated home with golf course views built-in 1951, sold for nearly $1.1 million. Urban Resource’s newest North Beach listing at 555 S. Shore in Normandy Shores, boasts 3 bedrooms with 3 full baths, gorgeous pool and stunning golf course views.
How did the Mid Beach and South Beach Markets compare to the North Beach, Miami Beach Real Estate Market?
As predicted, the buyers in North Beach are much more value-driven, as compared to the South Beach and Mid Beach neighborhoods. Although, with some of the ultra-luxury developments like Eighty Seven Park, 2020 will certainly bring a new type of buyer to North Beach. See 2019 Real Estate Miami Beach neighborhood market comparison below.
| North Beach | Mid Beach | South Beach | |
| Average Waterfront Sale Price | $ 1,005,999 | $ 1,399,791 | $ 1,498,000 |
| Average Waterfront Sale Price/SqFt | $ 488.79 | $ 604.62 | $ 787.55 |
| Average NonWaterfront Sale Price/SqFt | $ 273.61 | $ 462.86 | $ 401.12 |
North Beach Boasts New Parks, Cultural Center and an Aquatic Center
Exciting new projects are underway in North Beach, Miami Beach, and real estate investors are jumping on board now to reap the full benefits in the coming years. The city of Miami Beach recently announced 57 new projects to be funded over the next five years. One of the city’s largest G.O. Bond Investment of $53.8 million will include the development of the 72nd Street Community Complex. This facility will feature a library, media center, fitness gym, running track, green space, multi-level parking garage and a highly anticipated aquatic center with a completion date expected sometime in summer 2023. In these G.O. Bond projects, expect to see tot lots, dog parks, and much more. North Beach continues to grow by leaps and bounds, boasting its upcoming North Beach Town Center that has plans to break ground in 2020!
How to Sell Your North Beach, Miami Beach Home
Have you ever wondered, “What is the value of my Miami Beach house or condo?” At Urban Resource, a leading real estate and property management company that sells Miami Beach homes, our team’s ultimate goal is to help you sell your home or find you the perfect place to call your own. Urban Resource owners, Daniel and Laura Veitia, live in North Beach and serve on several city committees to ensure that they are always adding value and improving the lives of all North Beach, Miami Beach residents. At Urban Resource, we are more than just real estate. To view 555 South Shore or any of our other Miami Beach homes, call us at (305) 403-8686 or visit www.urbanresource.com for more information.
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