Demand for Homes
Set to Break More Records in December

Compared to this time last year, demand for homes is growing at the fastest pace we’ve seen to date. The ‘housing demand’ component – which tracks growth in online home searches nationwide – increased to an index-high of 129.6, up 5.7 points over last week. Historically, we see online searches dwindle down gradually in the weeks leading up to the holidays; that hasn’t been the case in 2020.

Home sales rely heavily on a healthy flow of buyers and sellers, and based on the first two weeks of the month, we are well on track for a record number sales for December. With the market likely carrying momentum into the new year, we should see an even more blistering start to 2021 than we saw in 2020.…READ MORE

SELLERS, THIS IS THE MOMENT! SELL NOW!

The inventory remains tight. There are 19 listings this week–the second lowest week this year! The market is still hot and that is great news for Sellers. Please refer to the articles posted on our website.

Twelve (12) listings are priced over $500,000. One (1) property is listed over $1,000,000. Seven (7) active listings have had a price reduction (0 this week). We are still in a Seller’s market, but many uncertainties lie ahead with the pandemic resurge, impact of the elections, economy, and likely increased inventory.

MULTIPLE OFFERS ARE BACK AND LISTINGS ARE SELLING OVER LIST PRICE!!

Mortgage interest rates remain historically low, and there are serious Buyers buying! Timing is everything. The demand is high for properties under $400,000. There is ONLY ONE (1) listing under $400,000. The lowest priced active listing is $380,000. This makes it more difficult for Buyers looking in that range due to competition from other Buyers. Competition from multiple offers have become more frequent. Six (6) properties are priced between $400,000-$500,000. Six (6) properties are priced between $500,000-$700,000. Three (3) properties are priced between $900,000 and over $1 million.

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.

A GREAT TIME TO BUY OR SELL!

During the period of December 11, 2020 through December 18, 2020 there were reported 2 new listings, 1 closed sale, 2 pending sales, 1 active with contract, 0 expired listings, 1 cancelled listing, 0 Temp off market, 0 price reductions and 1 price increase.

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, December 18, 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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