SELLERS ADJUST PRICES TO DRAW IN HOMEBUYERS

via themortgagepoint.com—According to the Realtor.com September Monthly Housing Trends report, nearly one in five houses witnessed a price decrease in September as buyers gained more negotiating leverage due to increased inventory. Lower- and mid-tier property sellers are most likely to change their asking price, but luxury home prices often stay the same and price reductions are least frequent at the top of the market.

“September’s trends show a housing market increasingly tilting in buyers’ favor, with a rising inventory of homes for sale, longer days on market and more competitive pricing,” said Danielle Hale, Chief Economist at Realtor.com. “At the same time, a Realtor.com analysis of seasonal trends shows the week of October 12–18 offers a particularly good window for buyers. While market power varies across regions and price tiers, reflecting economic conditions, in many areas momentum is lining up with seasonal price cuts and other advantages, which will make this fall particularly buyer-friendly relative to recent years.”

About 19.9% of postings saw price decreases in September, which was steady from the previous month and up 1.2 percentage points from the previous year. While lower- and mid-tier properties continue to drive price reductions across many regions, luxury listings experienced the fewest drops, indicating more patient sellers. Only 13.3% of listings costing more than $1 million experienced price reductions, while the largest percentage, 21.6%, occurred for homes priced between $350,000 and $500,000.

Home buyers had more alternatives in September as active inventory increased 17.0% over the same month last year, maintaining the number of available houses above 1 million for the fifth consecutive month and the 23rd consecutive month of year-over-year growth. Since the summer high, however,…READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

Thirty-nine (39) active listings in the Miami Springs/Virginia Gardens real estate market this week. Prices remain strong for sellers but we are seeing more price decreases on active listings! Despite relatively higher interest rates, there are still many qualified buyers out there. Inventory increases in the months ahead? We think so!

Mortgage interest rates decreased and are expected to fluctuate between 6-6.5% the remainder of 2025. We expect additional rate cuts this year. There are still qualified buyers looking for the right property. Timing is everything. Properties are staying on the market for longer but some houses still quickly sell. It all depends on pricing, condition, and location, location, location. Days on the market (DOM) is averaging around 84.

Inventory Breakdown:

Eighteen (18) active listings are over $1million. Thirteen (13) listings -- about 32% of the active listings-- have had a price reduction, one (1) this week.

There are no properties under $600,000; five (5) properties are priced between $600,000-$700,000; seven (7) between $700,000-$800,000; seven (7) between $800,000-$900,000; two (2) are priced between $900,000-$1,000,000; sixteen (16) between $1-2 million; and two (2) properties are priced for over $2 million.

CALL US FOR AN EVALUATION

During the period of September 26, 2025 through October 3, 2025, there were reported 1 new listing, 3 closed sales, 2 pending sales, 1 active with contract, 2 expired listings, 0 cancelled listings, 0 temp off market, 1 price reduction, 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 October 3, 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:  charlie@leonardrealestategroup.com

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