February 2019 Data: Inventory Growth Points to Cooler Spring Market

The Best Time to List a Home For Sale

The first week of April is the best time to list a home on the market in 2019. By listing during the week of March 31 – April 6, sellers are able to take advantage of a sweet spot in the season that offers high buyer demand, less competition, quick home sales, and strong prices. June is often considered the peak of home buying season, but our analysis found …READ MORE

Housing Market Cools Down to 2016 Levels

Nationally, a balanced housing market remained in the distant horizon for much of 2018, as it had for the second half of the decade. However, late in the summer inventory followed apath of recoveryas affordability crossed a tipping point and more buyers began to hold back. This meant the rate at which they were absorbing listings was finally beginning to slow for the first time in at least four years. The latest realtor.com analysis of month’s supply (the rate at which buyers are absorbing inventory) shows momentum continues to shift away from a seller’s market.. As many of the trends continue, we expect this February to mark the sixth straight month with the balance tilting back toward buyers.…READ MORE

This week very active:

Inventory is still under 40 properties.
Of the 39 active listings, over half, (19) are listed over $500,000.
Three listings are over $1,000,000.
2 more listings his week under $400,000 bringing the total to 8
Eighteen (18) active listings have had a price reduction. What does this mean? Usually, the property was overpriced from the beginning. The sellers are recognizing the market is changing. Prices are not increasing as fast as the last several years. Sellers don’t want to miss potential buyers and deal with increased competition.

The Miami Springs & VG markets continue to be very strong. The demand is high for properties under $400,000. There are only 10 listings under $400,000. How long will this sellers’ market last? A shift is on its way. Sellers should really evaluate their position in the market in order to realize a sale quickly. Prices remain strong. Interest rates are low. A Buyer’s market is waiting in the wings!

During the period of March 8, through March 15, 2019 there were 5 new listings, 6 closed sales, 6pending sales, 0 expired listings, 0 cancelled listings. There are still very good buying opportunities for buyers especially since interest rates remain very good. IT REALLY IS A GOOD TIME TO BUY OR SELL.

Attention Sellers!

Low Inventory + Low Interest rates + Increasing prices = Sellers Market.

The Market will change. Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, March 8, 2019. All closed sales are within 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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