Sanctuary or Solitary?

Keeping Your Sanity When Stuck Inside the House

Home. The word means a safe and comfortable sanctuary to return to after a busy day. But with the novel coronavirus on the march across the country and most people under orders to stay inside to slow its spread, the word now feels more like a four-letter word meaning imprisonment. With this situation unlikely to change very soon, how can we make our homes feel more like a sanctuary again, and keep our sanity?.…READ MORE

Do You Have the Right To Know

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As the cases of coronavirus have surged and an increasing number of Americans are sheltering in place, more people are worried about catching COVID-19 from their neighbors. And while the prospect of having an infected neighbor in a cul-de-sac is scary, it's far more terrifying if you live in a large apartment, co-op, or condo building with everyone sharing (and even coughing in) the same elevators, laundry rooms, and other common spaces. The issue: At present, building owners and boards .…READ MORE

Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy and adjust 

accordingly based on the current market circumstances. 

Timing is everything. 

If you re on the fence about selling, now is the time to get off and put your house on the market.

Inventory remains below 30, with only 29 active listings this week. That continues to represents a significant reduction in inventory compared to last year. This is good news for sellers. The bad news is CORONAVIRUS that has slowed things down. However, we are optimistic that things will improve once again by summer.

Fourteen listings are priced over $500,000. Two properties are listed over $1,000,000. Four active listings have had a price reduction (1 this week). This usually means that the property is overpriced. However, given the current low inventory, sellers are recognizing that market is in a strong seller’s market and there are less price reductions as the inventory decreases. Sellers thinking about selling, NOW is a very good time while the inventory is low. This means you compete with less houses for sale.

The demand is high for properties under $400,000. There are only 6 listings under $400,000. This will make it more difficult for buyers looking in that range because of the competition from other buyers. Multiple Offers expected for entry level buyers. Nine (9) are priced between $400-500,000. Prices remain strong. Mortgage Interest rates remain low.

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

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

However, sellers are recognizing the market change.  

There are less price reductions as the inventory decreases.

Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy and adjust 

accordingly based on the current market circumstances. 

Timing is everything. 

If you re on the fence about selling, now is the time to get off and put your house on the market.

During the period of March 27, 2020 through April 3,2020 there were reported 1 new listings, 5 closed sales, 2 pending sales, 0 active with contract, 0 expired listings, 0 cancelled listings, 2 Temp off market, 1 price reductions and 0 price increase. Interest rates remain low. A GREAT TIME TO BUY OR SELL.

Attention Sellers!

Low Inventory + Low Interest rates = Sellers Market.

Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, April 3, 2020. 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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