REMOTE WORKERS ARE TRANSFORMING HOUSING MARKETS

NEW YORK – Remote work since the pandemic has fueled the flexibility for Americans to leave larger cities near job centers and move elsewhere to farther-out locales.

They’re flocking to mid-tier cities nationwide, leading to a surge in home and rental price in these areas. For example, in Boise, Idaho – one locale seeing a jump in remote workers’ relocating – saw its median home price surge 41% compared to a year earlier. The median sold home price is $469,100 there.

Home prices rose by more than 35% compared to a year ago in the second quarter in pockets across the country, such as the Gulf shores of Florida to Idaho’s Treasure Valley and Massachusetts’ Berkshire County, according to National Association of Realtors®’ data. All three of these locales have a higher-than-average share of out-of-state views of their real estate listings.

The pandemic accelerated migration to more affordable areas from pricey city centers, Zandi told Barron’s. When employees do have to return to work in person, more Americans say they’re fine with having a longer commute too. Sixteen percent of consumers said they’re willing to have a longer commute now; 22% of millennials said they’d be willing to extend their commute, according to a realtor.com® survey.New Yorkers are increasingly hunting for listings in Miami and Tampa...…READ MORE

The Current Miami Springs Market

A GREAT TIME TO SELL!

There are 20 active listings in the MS/VG market. The inventory continues to remain low. Though it has fluctuated in the last months, inventory has remained under 25 listings. This makes for a very tight market for Buyers, as reflected in the decrease of pending sales. Prices remain very strong in Miami Springs and Virginia Gardens. There are many qualified Buyers, but the market is still favorable for Sellers. The Buyers are out there—sell now! Please refer to the articles posted on our website.

Seventeen (17) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Six (6) active listings have had a price reduction (0 this week). We remain in a strong Sellers' market with high demand. The market will change! Increased inventory is on the horizon, with increased foreclosures coming later this year.

MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!

Mortgage interest rates continue to remain historically low, and there are serious Buyers. Timing is everything! The demand is high, especially for properties under $400,000. There is one (1) listing under $400,000–an unapproved short sale. This lack of inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Two (2) properties are priced between $400,000-$500,000; nine (9) properties are priced between $500,000-$700,000; one (1) property is priced between $700,000-$800,000; and seven (7) properties are priced between $800,000 and over $1 million.

SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
SELL NOW!

During the period of September 12, 2021 through September 17, 2021, there were reported 2 new listings, 5 closed sales, 1 pending sale, 1 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 0 price reductions and 0 price increases.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, September 17, 2021. 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:  [email protected]

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