The New Normal of Selling a Home Today
If you’re selling your home right now—or thinking about doing it soon—you should know that today’s housing market is unlike anything we’ve seen or experienced lately, maybe ever.
In the past, home sellers might have waited weeks or months to get an offer that might not be as high as they’d hoped. Buyers may have lowballed, or driven a hard bargain asking sellers to make certain repairs or other concessions before closing the deal.
Today, however, many of these realities are no more: In many areas of the country, homes are getting snapped up fast, sometimes within days of going on the market. Buyers mired in bidding wars are pushing their offers over asking price, and often waiving inspections and other demands to sweeten their offer.
In general, this is all good news for sellers—but it also means that it’s more important than ever to understand the market and play your cards carefully to fetch the best offer and terms for you. Here’s what sellers need to know about the real estate landscape today.…READ MORE
A GREAT TIME TO SELL!!
Keep an eye on increasing inventory. This is the second week in a row with an increased inventory! There are now 24 active listings in the MS/VG market. However, the inventory remains low and that is why prices remain strong in Miami Springs and Virginia Gardens. There are many qualified Buyers but the low inventory makes the market favorable for Sellers. The Buyers are out there—sell now! Please refer to the articles posted on our website.
SELLERS, THIS IS THE MOMENT! SELL NOW!
Sixteen (16) listings are priced over $500,000. Three (3) properties are listed over $1,000,000. Six (6) active listings have had a price reduction (1 this week). We remain in a strong Sellers' market with low inventory and high demand.
The market will change!
Increased inventory is on the horizon, with increased foreclosures coming later this year.
MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!
Mortgage interest rates remain historically low, and there are serious Buyers buying. Timing is everything! The demand is high, especially for properties under $400,000. There is currently one listing under $400,000. It is a short sale; the property is being sold at auction. This lack of inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Seven (7) properties are priced between $400,000-$500,000; nine (9) properties are priced between $500,000-$700,000; two (2) properties are priced between $700,000-$800,000; and five (5) properties are priced between $800,000 and over $1 million.
A GREAT TIME TO BUY OR SELL!
During the period of July 9, 2021 through July 16, 2021, there were reported 7 new listings, 1 closed sale, 3 pending sales, 3 active with contract, 0 expired listing, 0 cancelled listings, 0 Temp off market, 1 price reduction and 0 price increases.
Sellers!
Low Inventory + Low Interest Rates = Seller's Market.
Act Now!
HOW DOES YOUR HOUSE COMPARE?
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, July 16, 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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