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.
These are the most commonly asked Google Real Estate Related questions
2. What is the best New Construction Condo in Fort Lauderdale?
In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.
3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami?
Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!
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