Analyzing the Current Real Estate Market in Surfside, Florida

Condo conversions, especially in suburban markets like Surfside, can range from $70,000 to $90,000 per unit, according to local housing analysts. The converters often shell out between $30,000 to $50,000 per unit before upgrading them. This may not be a major trend, but it is significant.

Surfside is a wonderful oceanfront town located in Florida''s Miami-Dade County, between Miami Beach and North Miami Beach. This is a community that truly loves and treasures its beaches, and when driving around, you can see people walking towards the ocean and enjoying a nice stroll on shores, or take a quick swim in the ocean.

The real estate options here are diverse, and the offerings range from quiet residential neighborhoods that combines small and, medium-sized homes to luxury oceanfront condos. The community is very proud of its own "home town" shopping district as well as its sprinkling of hotels, motels and resorts. The area''s residents vary from tourists and other visitors year-round to its own loyal band of locals who shop, work and play in this truly lovely oceanfront community.

Condo Conversions Are Common Here

Condo conversions, especially in suburban markets like Surfside, can range from $70,000 to $90,000 per unit, according to local housing analysts. The converters often shell out between $30,000 to $50,000 per unit before upgrading them. This may not be a major trend, but it is significant.

Usually, these residential converters come from places like New York or Chicago and are privately held, real estate investment companies, and then they generally come in with their own lending relationships from their home cities," he said. Usually, waterfront condominium converters look for the urban, infill type of properties that are located in affluent, waterfront communities like Miami Beach, Surfside or Aventura.

While these housing units appeal to more wealthy, middle-income buyers, they are less expensive than new units on the water. A new condominium in this town on the ocean may generally range from $250 to $350 per square foot, which can translate in prices from $500,000 up to $700,000 for a 2,000-square-foot condominium. A condo converter can sell a similar property in an existing building for around$250,000 to $350,000.

Current Property Listings In Surfside

Based on data given by local brokers and MLS services, there are at present 83 single-family home listings in the community. The highest priced listing is valued at $3,100,000, while the lowest priced listing is pegged at $449,000.

The pending sales, which are for homes under contract, is 4, and closed sales in January of 2008 amounted to two. These two home sales had prices were paced at $415,000 and $365,000. The community''s real estate property prices have seen a slight decline, and this could be obvious when looking at the lowest priced listing at $449,000 and fining the two other home sales priced below that amount.

The town''s close proximity to the ocean often makes it viewed often as a wonderful place to live or retire in, along with having a great, frioendly and closely-knit community atmosphere. In the local condominium market, there are at present around 238 condo listings in this town, with the highest priced listing placed at $2,600,000, and the lowest priced listing pegged at $188,000.

Closed sales for condos in January of 2008 were 1, with the selling price at $173,000. In this area, the oceanfront condo units are not getting hit as hard by the downswing in the property market, however with no sales in January for the moment, it may be the perfect time to get a suitable home located right next to the beach, in close proximity to the warm sand and cool ocean breeze.

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