AMERICANS LOOKING TO RELOCATE TARGET THE SUNSHINE STATE

Some 30.3% of Redfin.com users nationwide looked to move to a different metropolitan area in October and November, according to a new report from Redfin. Percentages are down from a record-high 31.5% in the first quarter of 2021 but well above pre-pandemic levels.

Homebuyer interest in relocating to a different part of the country was accelerated by the coronavirus pandemic, and took hold in the first half of 2020 and reached its peak at the beginning of this year before declining slightly and leveling out. Redfin.com users are showing significantly more interest in relocating than before the pandemic, when levels stood at 25% to 26%.

"At the beginning of the pandemic, remote work gave homebuyers the opportunity to consider a new location," said Redfin Chief Economist Daryl Fairweather. "Now the labor market is incredibly tight, which means even homebuyers with in-person occupations can move …READ MORE

The Current Miami Springs Market

A GREAT TIME TO SELL!

There are 16 active listings in the MS/VG market during the last three weeks. This the LOWEST we have seen! The inventory has fluctuated the last several months between 18-22 listings, which makes the market very tight for Buyers, as reflected in the number of pending sales and decrease of closed sales. Prices remain very strong in Miami Springs and Virginia Gardens. There are many qualified Buyers, but the market is still favorable for Sellers. The Buyers are out there—sell now! Please refer to the articles posted on our website.

Twelve (12) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Ten (10) active listings have had a price reduction (1 this week). We remain in a strong Sellers' market with high demand, with increased interest rates projected in 2022. Increased inventory is on the horizon—the market will change!

MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!

Mortgage interest rates have remained historically low but that will change in 2022. Regardless, there are serious Buyers looking for the right property. Timing is everything! The demand is high, especially for properties under $400,000. There are no listings under $400,000. The low inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Four (4) properties are priced between $400,000-$500,000; four (4) properties are priced between $500,000-$600,000; three (3) properties are priced between $600,000-$700,000; three (3) properties are priced between $700,000-$800,000; zero (0) properties are priced between $800,000-$900,000; and two (2) properties are priced over $1 million.

SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
SELL NOW!

During the period of December 17, 2021 through December 24, 2021, there were reported 1 new listing, 4 closed sales, 4 pending sales, 0 active with contract, 0 expired listings, 0 cancelled listings, 1 Temp off market, 1 price reduction, and 0 price increases.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, December 24, 2021. All closed sales are within the last 90 days.

*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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