We should be in a buyer’s housing market right now,
but COVID turned everything upside down.

By the end of September each year, homebuyers should be expecting the market to cool down as children go back to school and families bow out of the housing market. Specifically, this time of the season is typically characterized by trends such as lower competition from other buyers, plentiful supply of homes for sale, below-peak prices, and an approachable market pace.

However, in 2020, supply is drastically low, as sellers never quite came back to the market post-COVID, all while the appetite from buyers reached a fever pitch and …READ MORE

What COVID-19 Has Done to 2021's Colors of the Year

The coronavirus pandemic has affected every facet of our lives—even, apparently, the colors we should paint our walls. As proof, look no further than the colors of the year for 2021.

The time has arrived when paint companies start rolling out their top hues that embody the era's zeitgeist. And, with 2020 being unlike anything we've experienced in our lives thus far, it's no surprise that COVID-19 has had a palpable impact on which colors are predicted to dominate fashion and home decor next year. So far, many of the prevailing shades are)… READ MORE

The market remains active with low inventory. There are only 31 active listings this week– much lower inventory compared to last year. This is great news for Sellers. The market is still hot. Please refer to the article posted on our website.

Fifteen (15) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Seventeen (17) active listings have had a price reduction (4 this week). This usually means that the property is overpriced. Some Sellers may want to re-evaluate their pricing to motivate Buyers. We are still in a Seller’s market and there should be fewer price reductions as the inventory decreases.

Sellers thinking about selling should act quickly and get their property on the market. Prices remain strong.
MULTIPLE OFFERS ARE BACK AND LISTINGS ARE SELLING OVER LIST PRICE!!

Mortgage interest rates remain low, and there are serious Buyers buying! Timing is everything. If you're on the fence about selling, now is the time to get off and put your house on the market.

The demand is high for properties under $400,000. There is only one (1) listing under $400,000. The lowest priced active listing is $399,995. This will make it more difficult for Buyers looking in that range due to competition from other Buyers. Competition and multiple offers are becoming more frequent. Fifteen (15) properties are priced between $400,000-$500,000. Seven (7) properties are priced between $500,000-$700,000.

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.

During the period of September 25, 2020 through October 2, 2020 there were reported 2 new listings, 4 closed sales, 3 pending sales, 1 active with contract, 0 expired listings, 1 cancelled listing, 1 Temp off market, 4 price reductions and 0 price increases. Interest rates remain low. A GREAT TIME TO BUY OR SELL.

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, October 2, 2020. 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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