Buyers are Flooding the Market

Buyers are flooding the housing market early in the year, as they have in the last few years, eager to find a home of their own. With plenty of buyers and not as many sellers, homes are selling fast at prices much higher than this time last year. Seller activity typically picks up as we approach May, and the data suggest this may be ahead, welcome news for homebuyers.…READ MORE

Buyers Rush to Lock in Low Interest Rates

The spring homebuying market is typically marked by higher sales and a greater number of house hunters, but many real estate professionals feel a spring-like market has been in full swing since the pandemic began a year ago…READ MORE

SELLERS, THIS IS THE MOMENT! SELL NOW!

The inventory remains tight. There are now 26 active listings. The market continues to be very dynamic with many Buyers and that is great news for Sellers. Please refer to the articles posted on our website.

Fifteen (15) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Seven (7) active listings have had a price reduction (0 this week). We are in a strong Sellers' market, but uncertainties still remain with the COVID-19 pandemic and new variants, economic policies, and likely increased inventory. Increased foreclosures coming later this year.

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

Mortgage interest rates continue to be historically low, and there are serious Buyers buying! Timing is everything. The demand is high, especially for properties under $400,000. There are currently three (3) listings under $400,000. This is good for entry level buyers looking in that range. However, the lack of inventory makes it more difficult for most first-time Buyers. Competition from multiple offers have become quite common. Eight (8) properties are priced between $400,000-$500,000. Eight (8) properties are priced between $500,000-$700,000, and four (4) properties are priced between $800,000 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 March 12, 2021 through March 19, 2021 there were reported 3 new listings, 3 closed sales, 4 pending sales, 0 actives with contract, 0 expired listings, 1 cancelled listing, 1 Temp off market, 0 price reductions 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, March 19, 2021. 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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