2 Sep 2018

Miami Springs Real Estate Market Report September 3rd, 2018

by leonardrealestategroup | posted in: blog | 0

Pending Home Sales Stumble

as Housing Market Momentum Wanes

Pending home sales stepped back in July and have now fallen on an annual basis for seven straight months, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.7 percent to 106.2 in July from 107.0 in June. With last month’s decline, contract signings are now down 2.3 percent year-over-year.

Lawrence Yun, NAR chief economist, says the housing market’s summer slowdown continued in July. “Contract signings inched backward…READ MORE

Home Price Cuts Increase

but Still Not Buyer’s Market

Realtor.com^®has announced the findings of its August housing trend report which revealed a surge in price cuts and the second largest drop in the U.S. median list price in three years. Although competition between buyers remained stiff and list prices continue to rise, the report also revealed a slowdown in price growth and easing of inventory declines.

“Buyers, exhausted by bidding wars and little choice in inventory, could finally….READ MORE

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The Current Miami Springs Market

The Miami Springs and Virginia Gardens markets continue to be very strong. The demand is high for any property under $400,000, but the inventory remains low. and the lack of affordable entry level homes will be an obstacle for first time home buyers.

Its a Seller's market but although the inventory is tight there are still very good buying opportunities for buyers

IT REALLY IS A GOOD TIME TO BUY OR SELL.

The market continues to show activity. The Pending sales were flat last week. During the period of August 24th, through August 31st, 2018, there were 2 new listings, 2 closed sales, 3 pending sales, and 0 expired listings.

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, August 31st, 2018. 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

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