US MARKET UPDATE

via realtor.com—This week’s housing data looks much like weeks past, as the spring market continues to amble along. Inventory built slowly, holding at last week’s multiyear-low pace of growth, while homes are spending just one additional day on the market compared to last year. Listing prices declined year over year for the 19th straight week, the longest such streak in the data’s history. Notably, price reductions are also falling year over year, suggesting this softness reflects adjusting seller expectations rather than true market weakness. Sellers appear to be listing at more modest prices from the start, rather than listing high and cutting later.

For buyers, that’s encouraging news: More homes may be coming to market at realistic prices. That said, mortgage rates continued climbing last week, reaching 6.51%, which could take some steam out of an already-quiet spring market just as the traditionally busier summer season gets underway.

New listings, a measure of sellers putting homes up for sale, picked up 3.3% year over year

New listing activity remained above 100,000 homes this week, exceeding last year’s pace. The bumpy trajectory over recent weeks suggests homeowners are approaching this spring with caution, likely taking cues from broader market and economic conditions. Some sellers are reengaging as the summer market approaches, while others appear to be staying on the sidelines amid rate volatility and economic uncertainty.

Active inventory climbed 2.2% year over year

The number of homes for sale continues to exceed year-ago levels, though growth has moderated significantly, from nearly 10% gains at the start of the year to roughly 2% today. The slowdown likely reflects both sellers feeling hesitant to list and a modest uptick in buyer activity absorbing some available supply. Year to date, active inventory has averaged 5.9% above the same period last year.

Homes spent 1 day longer on the market than a year ago

Time on the market continues to run just one day behind last year’s pace, a gap that has been narrowing throughout the year. This suggests buyers are steadily absorbing available supply rather than letting it accumulate. Combined with modest inventory growth, the overall picture is of a market where demand is soft but active enough to keep both supply levels and time on the market from building meaningfully.

The median listing price…READ MORE

The Current Miami Springs Market

There are thirty-eight (38) active listings in the MS/VG markets this week. Another 10% increase in inventory since last week. We have had a 20% increase in inventory over the last two weeks!We also had another over $2 million sale at $2,325,000!

About 42% of the active listings are priced over $1,000,000. Of those, three (3) listings are over $2million, and one is asking close to $4million!

We have experienced a busier Spring selling/buying season so far this year!

SELLERS, LIST NOW(!) if you are thinking about selling!

There are still qualified Buyers out there! More increases in inventory in the months ahead?? I think so.

Mortgage interest rates have increased again. They are now slightly over 6%. Uncertainty with the war and gas prices may impact demand. However, there are still qualified buyers looking for the right property. Timing is everything. Days on the market (DOM) are on average 58 days. Some houses sell quickly. It all depends on pricing, condition and location, location, location. The decrease in interest rates should result in increased sales activities. It is important to price the property right.

Inventory Breakdown:

There are no properties priced between $500,000-$600,000; one (1) property is priced between $600,000-$700,000; nine (9) are between $700,000-$800,000; six (6) between $800,000-$900,000; six (6) are priced between $900,000-$1,000,000; twelve (12) between $1-2 million; three (3) are listed for over $2 million; and one (1) is listed for over $3 million.

TIME TO BUY OR SELL? CALL US FOR AN EVALUATION

During the period of May 22, 2026 through May 29, 2026, there were reported 4 new listings, 2 closed sales, 1 pending sale, 1 active with contract, 0 expired listings, 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 May 29, 2026. 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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