Florida Realtors: Single-Family Sales Rise 6.1% in Nov.

Florida’s housing market reported more single-family home sales and higher median prices, as well as increased pending sales and pending inventory in November 2019 compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 21,842 last month, up 6.1% from November 2018. “The November data shows that many homebuyers are eager to find the Florida home of their dreams – but demand and a tight inventory in many local areas continues to put pressure…READ MORE

2020 Will See ‘Historic Low Level’ Of Housing Inventory

Demand for homes will be strong next year, but homebuyers will have few options. In fact, according to a new forecast for 2020, next year may just see the biggest housing inventory shortage in U.S. history. According to the 2020 National Housing Forecast from Realtor.com, the national housing shortage will continue in the New Year, possibly reaching “a historic low level.”...READ MORE

The Miami Springs & VG markets continue to be strong.

Inventory remained stable.

This is good for buyers and sellers

31 active listings this week, with 2 new ones

2 closed sales this week

11 listings under $400,000 (Note:The inventory in this price range has increased during the last few weeks)

11 listings between $400,000 and $500,000

11 active listings are priced over $500,000

1 properties are listed over $1,000,000.

12 active listings have had a price reductions (0 this week).

What does this mean? Usually, the property was overpriced from the beginning. The sellers are recognizing the market is changing. Prices are not increasing as fast as the last several years. Sellers should not miss potential buyers and deal with increased competition.

Sellers that haven’t been able to sell their property in this market should re-evaluate their pricing, strategy and adjust accordingly based on their market circumstance.

Timing is everything. If you re on the fence about selling, get off and put your house on the market.

During the period of December 13, 2019, through December 20, 2019 there were reported 2 new listings, 2 closed sales, 3 pending sales, 0 active with contract, 0 expired listings, 1 cancelled listing, 1 Temp off market, 0 price reductions and 0 price increases. Interest rates remain low. A GREAT TIME TO BUY OR SELL

Attention Sellers!

Low Inventory + Low Interest rates + Increasing prices = Sellers Market.

The Market will change. Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, December 20, 2019. All closed sales are within the last 90 days.

HOW DOES YOUR HOUSE COMPARE?

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

A complete list of all the properties for sale in Miami Springs or any other area of Miami-Dade County can be sent to you on regular basis. Request it at: charlie@leonardrealestategroup.com

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