ORIGINS OF THANKSGIVING NATIONAL HOLIDAY

via history.com—Pilgrims held their second Thanksgiving celebration in 1623 to mark the end of a long drought that had threatened the year’s harvest and prompted Governor Bradford to call for a religious fast. Days of fasting and thanksgiving on an annual or occasional basis became common practice in other New England settlements as well.

During the American Revolution, the Continental Congress designated one or more days of thanksgiving a year, and in 1789 George Washington issued the first Thanksgiving proclamation by the national government of the United States; in it, he called upon Americans to express their gratitude for the happy conclusion to the country’s war of independence and the successful ratification of the U.S. Constitution. His successors John Adams and James Madison also designated days of thanks during their presidencies.

In 1817, New York became the first of several states to officially adopt an annual Thanksgiving holiday; each celebrated it…READ MORE

The Current Miami Springs Market

TIME TO BUY OR SELL?
CALL US FOR AN EVALUATION

There are thirty (30) active listings this week. Slightly increased inventory since last week. Thirty percent (30%) of the active listings are over a $1,000,000.00! Inventory in the MS/VG market hovered at around 32+/- listings last month. Prices remain strong for Sellers. Interest rates have decreased slightly and prices are still high but we are seeing a significant number of price decreases on active listings. We are truly in a unique market! It is slowing down but there are still many qualified buyers out there, despite high interest rates and high prices. Please refer to the articles posted on our website for more insight.

There are ten (10) active listings over one million dollars. Sixteen (16) of the active listings—more than half!—have had a price reduction; four (4) this week. There are two (2) new pending sales this week. We have been transitioning to a more neutral market. However, the tight inventory and high demand for entry-level homes still makes it difficult for Buyers. The high interest rates also create a difficult situation for Sellers that have a mortgage with a low interest rate. Where do they go if they decide to sell? Sales activity has slowed down a bit. Properties are staying on the market for longer but some houses still quickly sell. Any additional interest rate increases in the future can mean fewer Buyers. Interest rates aside, we continue to anticipate more inventory increases.

DEMAND IS STILL THERE!

Mortgage interest rates are just under 7% with lower rates expected. There are still serious qualified Buyers looking for the right property. Timing is everything! Multiple offers still happen in some cases. The number of days properties are staying on the market is averaging 55 days. There are no properties listed under $500,000. The limited options for entry-level homes, higher interest rates, and homeowner insurance costs make it difficult for first-time Buyers. There is one (1) listing priced between $500,000-$600,000; ten (10) listings are priced between $600,000-$700,000; one (1) is priced between $700,000-$800,000; four (4) are priced between $800,000-$900,000; four (4) are priced between $900,000-$1,000,000; nine (9) between $1-2 million; and one (1) priced for over $2 million.

SELLERS, THIS IS THE MOMENT TO PRICE IT RIGHT!
Increasing Inventory + Increasing Interest Rates = Less Demand.

During the period of November 15, 2024 through November 22, 2024, there were reported 2 new listings, 0 closed sales, 2 pending sales, 3 active with contract, 0 expired listings, 0 cancelled listings, 0 temp off market, 4 price reductions, 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 November 22, 2024. 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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