Bay Lure Homes for Sale

Bay Lure is a luxury waterfront, luxury community in Miami Shores, Miami-Dade County, Florida. Properties are priced from $5,900,000 to $9,500,000. Pure Equity lists homes in Bay Lure and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers Bay Lure and the Miami Shores area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 3 Bay Lure Miami Shores homes for sale as of October 2026. The median asking price is $4.0M. Asking prices run from $2.68M to $5.92M.

That is 169% above the Miami Shores median of $1.49M. On a per-foot basis, homes here ask about $1,139 per square foot, compared with $806 across Miami Shores. So the median price buys roughly 3,500 square feet of living area.

Listings here have averaged 115 days on the market. That tracks the Miami Shores average of 96 days, so pricing and terms follow the wider city market.

Homes listed in Bay Lure date from 2017 to 2023. That puts them between 3 and 9 years old.

Every one of these homes went up after Florida adopted its statewide building code in 2002. In practice, that usually means impact-rated openings and stronger roof attachment. A wind mitigation inspection documents those features, and Florida insurers must offer premium discounts for them.

Bay Lure includes waterfront homes. Waterfront lots in South Florida often sit in FEMA special flood hazard areas, where lenders require flood insurance. Before you commit, look up the address on the FEMA Flood Map Service Center and ask the seller for an elevation certificate.

Bay Lure has new construction. Builders usually require your agent to register you on the first visit, so bring your agent or call us before you walk in.

At a median near $4.0M, Bay Lure sits in the luxury tier of Miami Shores. Jumbo financing and proof of funds usually come up early in these negotiations.

Rentals in Bay Lure have a median asking rent of $27,750 per month, across 2 active rental listings. For comparison, the Miami Shores median is $6,300, so rents here run 340% higher.

You can browse current Miami Shores rentals or ask us for a rent estimate on a specific Bay Lure home.

Here is what the median Bay Lure price means in Florida closing terms. At $4.0M, a 20% down payment comes to about $800,000, leaving a loan near $3.2M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $11,200. Next, the intangible tax of 0.2% adds about $6,400. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $24,000 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Bay Lure listings show assignments to Miami Shores (elementary), Horace Mann (middle) and Miami Edison (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.