More Than 200,000 New Listings
Are Missing From U.S. Housing Market

National inventory declined by 48.6% over last year. The inventory of newly listed properties declined by 24.5% nationally and by 23.5% for large metros over the past year.

The February national median listing price was $353,000, up 13.7% compared to last year. Large metros saw an average price gain of 11.5% compared to last year.

Nationally, the typical home spent 70 days on the market in February, 11 days less than the same time last year..…READ MORE

How Can Landlords Prepare For 2021?

The rental real estate space continues to see turmoil as our research finds that renters across the country are still struggling to pay rent. It’s no secret that landlords have in turn felt the impact of the decrease in rent payments received. When investing in rental properties, there’s always a risk that you may not get your rental payments, but… READ MORE

SELLERS, THIS IS THE MOMENT! SELL NOW!

The inventory got tighter this week. There are now 24 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.

Thirteen (13) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Nine (9) 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.

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 for properties under $400,000. There are currently four (4) 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. Seven (7) properties are priced between $400,000-$500,000. Five (5) properties are priced between $500,000-$700,000, and six (6) 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 February 26, 2021 through March 5, 2021 there were reported 2 new listings, 5 closed sales, 3 pending sales, 5 actives with contract, 1 expired listing, 0 cancelled listings, 0 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 5, 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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