Inventory and List Prices Drop Unexpectedly

Inventories of homes for sale fell 1.8% year-over-year in August, the first time in a year that inventories have dropped. “The state of the housing market as we head into the latter half of 2019 is a tug of war between increased affordability and economic anxiety,” says George Ratiu, senior economist for realtor.com. “We’re starting to see this tension play out in our August data. On the one hand, lower interest rates have given buyers more purchasing power, which is contributing to August’s decline in national inventory. However, concerns over trade wars and cutbacks in corporate spending are causing some buyers to postpone their search. This is contributing to both the ...READ MORE

5 Hard-to-Ignore Reasons Why You Should

Always Work With a Realtor

Buying and selling a home is stressful. Showings. Listings. Open houses. Taxes. Closing costs. Paperwork on top of paperwork on top of paperwork. And those are just the things you've thought of off the top of your head. While it's easy to think you can handle it all yourself, thanks to the abundance of information readily available on the internet (and from theProperty Brothers!), the fact is that a real estate transaction is time-consuming and complicated…Just like you wouldn't represent yourself in a court of law,. Here are just a few of the compelling (and sanity-saving) reasons why….READ MORE

The Miami Springs & VG markets continue to be strong.

Inventory remained stable.

This is good for buyers and sellers

43 active listings this week, with 5 new ones

3 closed sales this week

8 listings under $400,000

19 active listings are priced over $500,000

3 properties are listed over $1,000,000. One of the Million+ properties is now a Pending Sale.

19 active listings have had a price reductions (1 this week).

What does this mean? Usually, the property was overpriced from the beginning. Thesellers 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.

The demand is high for properties under $400,000. There are 7 listings under $400,000

During the period of September 6, 2019, through September, 13, 2019 there were reported 5 new listings, 3 closed sales, 5 pending sales, 1 active with contract, 2 expired listings, 2 cancelled listings, 0 Temp off market, 3 price reductions and 0 price increase. Interest rates ticked up a bit but remain very good. 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, September 13, 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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