Weekly Housing Trends Key Findings

This week’s data show that the housing market continues to be much more active than usual even though the usual end of year slowdown in activity is underway. As discussed last week, the closer we get to the end of the year, the more dramatically housing market activity typically slows. Thus, despite higher rates of price growth, the median price level remains down from peak summer pricing, it’s just a smaller pullback than we typically see this time of year…READ MORE

3 Big Reasons Your Home Offer Was Rejected—and
How to Play It Right Next Time

Having your home offer rejected doesn't have to mean it's back to renting. In fact, if you play your cards right, you might just be able to turn that rejection around—or at least learn from the experience and come back a stronger candidate the next time. The most important aspect of a rejected offer is understanding why it was rejected, and for that we turned to the experts. Here are a few common reasons your home offer might have been rejected, and a few helpful tips on what you can do about it.…READ MORE

THINKING ABOUT SELLING? DO IT NOW!

The market remains active with an even lower inventory. There are only 23 active listings this week–the lowest this year! The market is still hot and that is great news for Sellers. Please refer to the articles posted on our website.

Twelve (12) listings are priced over $500,000. One (1) property is listed over $1,000,000. Eight (8) active listings have had a price reduction (1 this week). We are still in a Seller’s market, but many uncertainties lie ahead with a possible pandemic resurge, impact of the elections, economy, and likely increased inventory.

MULTIPLE OFFERS ARE BACK AND LISTINGS ARE SELLING OVER LIST PRICE!!

Mortgage interest rates remain historically low, and there are serious Buyers buying! Timing is everything. The demand is high for properties under $400,000. There are only THREE (3) listings under $400,000. The lowest priced active listing is $350,000. This makes it more difficult for Buyers looking in that range due to competition from other Buyers. Competition from multiple offers have become more frequent. Eight (8) properties are priced between $400,000-$500,000. Five (5) properties are priced between $500,000-$700,000. Three (3) properties are priced between $900,000 and over $1 million.

Property price reductions? 
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.

A GREAT TIME TO BUY OR SELL!

During the period of November 27, 2020 through December 4, 2020 there were reported 3 new listings, 2 closed sales, 5 pending sales, 0 active with contract, 1 expired listing, 1 cancelled listing, 3 Temp off market, 1 price reduction and 0 price increases.

Attention Sellers!
Low Inventory + Low Interest Rates = Seller's Market.
Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, December 4, 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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