Home Prices Settling into Stable Territory

“2018 was a turning point for home price growth in the U.S. housing market,” says Ralph McLaughlin, deputy chief economist and executive of Research and Insights at CoreLogic. “In 2018, we saw monthly over-the-year gains in home prices grow at the slowest rate for a calendar year since 2014.”

Despite the pull-back, appreciation is blowing by …READ MORE

Where foreclosures are picking up

Foreclosures are not nearly as prevalent as they were during the housing crisis in 2008. But they are still occurring. In fact, some states are seeing an uptick in foreclosure starts compared to last year, notably Montana (up 48 percent), Minnesota (up 29 percent), Nebraska (up 28 percent), Texas (up 15 percent), and Florida (up 13 percent), according to a year-end foreclosure report released recently by ATTOM Data Solutions, a real estate data firm. During the housing crisis…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.
Only 6 listings under $400,000
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 8 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 February 22, through March 1, 2019 there were 3 new listings, 5 closed sales, 2 pending sales, 2 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 1, 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

………………………………………………..……………………………………………………………………………