The Investment Value of Biscayne Point Waterfront Homes | An Up-and-Coming Waterfront Community in Miami Beach
The Demand for Biscayne Point Waterfront Homes is Increasing
With the enormous amount of wealthy families flocking into Miami, the waterfront home market in quickly drying up. Waterfront homes in the most desired Miami Beach neighborhoods are selling within days, new construction home are often traded before they can even be listed and home prices are quickly rising. As the most desired Miami Beach waterfront neighborhoods are experiencing price increases, buyers are looking into new areas. Biscayne Point is one of these emerging areas where buyers are now shopping for more affordable Miami Beach waterfront homes for sale. Biscayne Point homes that sold are often directly remodeled or rebuilt into luxurious waterfront properties.
Biscayne Point offers great opportunities to buy a waterfront lot with unobstructed views and to build a brand new waterfront mansion on it
The Gated and Waterfront Community of Biscayne Point
Biscayne Point is Miami’s most affordable waterfront community which still offers very budget-friendly lots and dated properties that can be converted in luxurious waterfront mansions. With increasing prices elsewhere on the beach more and more buyers are looking at Biscayne Point to construct large waterfront homes. Biscayne Point is in the northwest tip of Miami Beach, just north of Normandy Isle and south of Surfside and Indian Creek. Biscayne Point is made up of two peninsulas that extend into the Biscayne Bay, called Biscayne Point (Southern peninsula) and Stillwater (Northern peninsula). Most homes are waterfront and enjoy amazing views over the Biscayne Bay and the Miami skyline. Biscayne Point is close to the beaches and all its entertainment while the community gives you a feel of tranquility and privacy. Biscayne Point is desired by boaters and golf lovers as the waterfront community is close to several golf courses: The Miami Beach Golf Club, The La Gorce Golf Course and the Normandy Shores Golf Course. For boaters it is important to mention that some homes have direct access to the open ocean while others have fixed bridges along the way.
Biscayne Point saw a 100% increase in waterfront sales in 2020
Market Information for Biscayne Point Homes for Sale
Biscayne Point has seen an impressive increase in sales over 2020. The amount of waterfront sales in Biscayne Point even increased by 100% since 2019! 34 Waterfront homes sold in 2020, 4 more homes sold in January 2021 and there are currently 6 properties under pending contract! We also recoded two sales of waterfront lots. For those looking for Biscayne Point waterfront homes for sale there are just 19 of them on the market (25 homes in total). Based on last year’s sales numbers we are experiencing 6 months of inventory, 5 if you take the pending sales into account. 6 Months or less of inventory indicates a sellers market, in which demand is higher than the supply and prices are most likely increasing in the near future.
Today’s buyers, mostly from the northeast, Chicago and California, are focused on brand new homes. There is a lot of demand for brand new (waterfront) homes, but just like in other areas the supply is limited. Both in 2019 and 2020 only 2 newer homes sold that were built in 2015 or after. One of the current pending deals is a brand new home and from the 19 Waterfront listings there is only one brand new home from 2021! This is a gap in the market, and we expect many of the homes that sold this year to be converted in brand new waterfront homes. From the 5 residential lots for sale at this very moment, two are being sold with approved plans for a brand new luxury home.
Sales Numbers and Prices are Up
The Luxury Sub-Market is coming up
Biscayne Point is Miami’s Most Affordable Waterfront Community
Recent Sales at Biscayne Point
1200 S Biscayne Point Rd sold for $3M or $775 per SF in 2020. This 6 bedroom home offers almost 4,000 SF and was listed for $3,950,000
1411 Stillwater Dr sold for $4M or $1,080 per SF. The home was constructed in 2017 and offers 4 bedrooms and 4,151 SF on a 7.500 SF lot.
1410 S Biscayne Point Rd is under pending contract. Its asking price was $7,775,000 and this 6 bedroom, 5.383 SF new construction home was just 44 days on the market before it sold!
Contact the David Siddons Group for more information on Biscayne Point or Miami Beach Waterfront homes for sale
David Siddons is a top producing Miami realtor and Director of Luxury Sales with Douglas Elliman. David is known as a market analyst and he is the author of several of Miami’s most influential real estate reports and forecasts.
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We have only superlatives to describe how wonderful Cris Buzolin was throughout the process of selling our townhouse in Coral Gables. We were away in the UK while the transaction was taking place and Cris handled everything-from clearing out our house, selling contents when she could, arranging the moving and storage and dealing with some very difficult problems which arose. Always patient and very willing to help in every way, Cris is a consummate professional who really cares about her clients and worked extremely hard to get the price we had asked for and make things for us as easy as she could. Nothing was too much for her to handle.Cris and Marianela (who provided additional very helpful assistance to us during the transaction) are part of the team that David Siddons has assembled.When we decided to sell our property, we contacted David and he established the framework for the transaction and ensured that everything proceeded smoothly and in accordance with our wishes. In sum, David Siddons and his team are extremely competent and professional and we are totally satisfied with the service they provided. To repeat, Cris Buzolin in particular, went way beyond what one would expect from a real estate agent. The David Siddons Group has our highest recommendation!
Fantastic group of people to work with!! David and Adriana were responsive and professional throughout the entire process. We weren't familiar with South Florida so David took us under his wing and did a fabulous job giving us a tour of select neighborhoods in South Florida and shared a great deal of information about each. We fell in love with the Botaniko community in Weston and closed the deal with Adriana. If you are buying/selling this is the team you want to work with!! Thank you guys for helping us find our dream home.