SEPTEMBER 2025 MONTHLY HOUSING MARKET TRENDS REPORT

via realtor.com—Despite falling mortgage interest rates over the past few months, the housing market’s pace continues to slow. Homes spent longer on the market for the 18th straight month, with the slowdown most pronounced in Florida and the West.

Inventory gains continue, but growth is slowing: Active listings rose 17.0% year-over-year, the 23rd consecutive month of gains, but growth has decelerated steadily since May. National inventory remains 13.9% below pre-pandemic levels.

The South and West are now above pre-pandemic inventory, while the Northeast and Midwest remain deeply undersupplied. Metros like Denver and Austin are far ahead of their 2017–2019 norms, while Hartford and Chicago lag furthest behind.

Time on market extends further: The typical home has spent 62 days on market, a week longer than September of last year. Homes are sitting longest in Florida and Las Vegas, reinforcing the broader cooling trend.

Prices flatten, with regional declines: The national median list price held steady at $425,000, but dipped 3.6% in the West. On a per-square-foot basis, prices are rising in the Northeast and Midwest, but falling in the South and West.

Price cuts remain widespread, especially at lower tiers: Nearly 20% of listings saw reductions in September, with sellers between $350,000-$500,000 most likely to cut. In contrast, luxury home sellers remain more patient, with reductions least common at the top of the market.

In September, homebuyers saw more options as inventory expanded for the 23rd consecutive month, according to Realtor.com® housing data. The number of homes for sale remained above one million for the fifth month in a row, but the pace of growth has slowed with the summer homebuying season coming to a close. List prices,…READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

Activity in the Miami Springs/Virginia Gardens real estate market picked up this week with two (2) new pending sales and a slight bump in inventory. There are now forty-one (41) active listings in MS/VG. Prices remain strong for sellers but we are seeing more price decreases on active listings! Nineteen (19) (almost HALF!) of the active listings are over $1million. Thirteen (13) listings have had a price reduction, two (2) this week. 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 sell quickly. It all depends on pricing, condition, and location, location, location. Days on the market (DOM) is averaging around 87.

Inventory Breakdown:

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; three (3) are priced between $900,000-$1,000,000; seventeen (17) between $1-2 million; and two (2) properties are priced for over $2 million.

CALL US FOR AN EVALUATION

During the period of October 3, 2025 through October 10, 2025, there were reported 3 new listings, 0 closed sales, 3 pending sales, 1 active with contract, 1 expired listing, 0 cancelled listings, 0 temp off market, 2 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 October 10, 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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