Spring & Summer Remain Best Times to Sell Homes
ATTOM Data, a national provider of real estate and property data, has released its annual analysis of the best days of the year to sell a home and found that based on 11 years of data, summer remains the best time to sell.
The report found that based on their data, the best times to sell are during May, June, and July which coincided with an average seller premium of 10% or more above market value. All of the top 15 best days to sell are in the month of May, which help set the tone for the rest of the summer season.
Sellers would be advised to wait for warmer weather before listing their home based on an analysis of 46 million home and condo sales that occurred between 2011 and 2021. Selling a home during the summer also coincides with an influx of buyers that typically manifest at the same time looking to take advantage of the fact there is no school during this time.
"April showers may bring May flowers, but May brings home sellers the best.…READ MORE
The Current Miami Springs Market
A GREAT TIME TO SELL!
There are ten (10) active listings in the MS/VG market this week. Inventory has averaged under 15 listings the last several months, which makes for a very tight market for Buyers. Values remain very, very strong in Miami Springs and Virginia Gardens. There are still many qualified Buyers out there! It is still a Sellers' market. Please refer to the articles posted on our website.
Nine (9) of the ten listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Two (2) active listings has had a price reduction (1 this week). We remain in a very strong Sellers' market due to high demand. Interest rate increases are here with more to come in 2022. We anticipate that inventory will start to increase later this year.
MULTIPLE OFFERS ARE BACK AND LISTINGS KEEP SELLING OVER LIST PRICE!!
Mortgage interest rates have started to increase. There are still serious Buyers looking for the right property. Timing is everything! The demand is high, especially for properties under $500,000. There is one listing under $500,000. This low inventory makes it difficult for most first-time Buyers. Competition from multiple offers is the norm in today's market. One property is priced between $400,000-$500,000. Two (2) properties are priced between $500,000-$600,000; four (4) between $600,000-$700,000; none (0) between $700,000-$800,000; none (0) between $800,000-$900,000; one (1) between $900,000-$1,000,000; and two (2) are priced over $1 million.
SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
SELL NOW!
During the period of April 29, 2022 through May 6, 2022, there were reported 5 new listings, 3 closed sales, 1 pending sale, 2 active with contract, 1 expired listing, 1 cancelled listing, 0 Temp off market, 1 price reduction, and 1 price increase.
HOW DOES YOUR HOUSE COMPARE?
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, May 6, 2022. 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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