Florida's Housing Market Shows Positive Trends in 3Q
Florida’s housing market experienced positive trends in 3Q 2019, with more closed sales, higher median prices, more pending sales and rising pending inventory, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 78,759 in 3Q 2019, up 8.1% from the 3Q 2018 level. “Median sales prices for both existing single-family homes and for condo-townhouse properties…READ MORE
Mortgage Rates Fall Back
Mortgage rates dropped in the past week after rising in six of the last nine weeks, including most of the month of October. The 30-year fixed-rate mortgage averaged 3.69% during the week ending Nov. 7, down three basis points from the previous week, Freddie Mac reported Thursday...READ MORE
The Miami Springs & VG markets continue to be strong.
Inventory remained stable.
This is good for buyers and sellers
40 active listings this week, with 3 new ones
3 closed sales this week
13 listings under $400,000
14 listings between $400,000 and $500,000
13 active listings are priced over $500,000
2 properties are listed over $1,000,000.
19 active listings have had a price reductions (1 this week).
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 should not miss potential buyers and deal with increased competition.
Sellers that haven’t been able to sell their property in this market should re-evaluate their pricing, strategy and adjust accordingly based on their market circumstance.
Timing is everything. If you re on the fence about selling, get off and put your house on the market.
During the period of November 1, 2019, through November 8, 2019 there were reported 3 new listings, 3 closed sales, 1 pending sale, 1 active with contract, 0 expired listings, 1 cancelled listing, 0 Temp off market, 1 price reduction and 1 price increase. Interest rates remain low. A GREAT 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, November 8, 2019. 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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