WEEKLY HOUSING TRENDS VIEW—DATA FOR WEEK ENDING MAY 3, 2025

via realtor.com—These regular reports break down inventory metrics like the number of active listings and the pace of the market. In addition, we continue to give readers more timely weekly updates, an effort that began in response to the rapid changes in the economy and housing. Generally, you can look forward to a Weekly Housing Trends View and the latest weekly housing data on Thursdays and weekly video from our economists. Here’s what the housing market looked like over the past week.

The spring is in full bloom and the housing market is following suit. The number of homes for sale reached the highest level since 2019 last week and new listings reached their highest level since mid-2022. Ample for-sale inventory has not been fully embraced by buyers who continue to face challenging affordability conditions. Sellers are bringing down asking prices to try to entice buyers, pushing the share of homes with a price reduction 0.6 percentage points higher compared to last year.

Broader economic conditions still feel rather uncertain. All eyes are on this week’s FOMC meeting which could reveal how the committee is thinking about the U.S. economy and how their read of economic conditions could impact the interest rate path. Recent employment and inflation data showed progress towards lower price growth and stable job additions but only captured through March. The next round of both indicators will offer insight into the post-tariff-announcement landscape.

Key National Findings

New listings—a measure of sellers putting homes up for sale—rebounded, rising 9.3% year-over-year

New listings picked up last week, rising 9.3% compared to a year ago. The momentum from earlier this spring is still going strong, pointing to a lively market heading into late spring and early summer. Last week boasted the highest number of new listings since mid-2022. With more new listings hitting the market, buyers have better chances of finding a home that suits them, even with some economic hurdles.

Active inventory climbed 31.1% year-over-year…READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

Inventory stayed steady this week. There are still forty-three (43) active listings in the Miami Springs/Virginia Gardens market. Increased inventory is good for Buyers and we are seeing more price decreases on active listings, but "Sold" prices remain strong for Sellers. Values remain strong in Miami Springs and Virginia Gardens. There are sixteen (16) active listings over one-million dollars. Twenty-three (23) of the active listings (more than half!) have had a price reduction, none this week.

Sales activity has slowed down a bit this year. We had been transitioning to a more neutral market. However, there is a practically nonexistent number of entry-level homes (i.e. under $600,000), which makes it difficult for some buyers. Current interest rates also create a difficult situation for sellers that have a mortgage with a low interest rate. Where do they go if they decide to sell? Properties are staying on the market for longer but some houses still quickly sell. It all depends on pricing, condition, and location, location, location. Any additional interest rate increases in the future can mean fewer Buyers. Interest rates aside, we continue to anticipate more inventory increases.

Mortgage interest rates remain under 7%. Rates are expected to fluctuate between 6-7% this year. Despite high interest rates, there is still demand! The number of days properties are staying on the market is averaging 74 days. The limited options for entry level homes, high interest rates and homeowner insurance costs make it difficult for many first-time buyers. There are no properties listed under $500,000. There is one (1) listing priced between $500,000-$600,000; seven (7) listings are priced between $600,000-$700,000; nine (9) are priced between $700,000-$800,000; six (6) are priced between $800,000-$900,000; four (4) are priced between $900,000-$1,000,000; fourteen (14) between $1-2 million; and two (2) priced for over $2 million.

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During the period of May 2, 2025 through May 9, 2025, there were reported 3 new listings, 3 closed sales, 4 pending sales, 2 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 May 9, 2025. 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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