Should we be worried? Probably.
Interests rates have been at historic levels for quite some time. The inventory levels in Miami Springs have steadily increased. The pending sales numbers have been declining. Listing prices have gone up. Way up. Should we be worried?
Probably. Interest rates will go up, meaning less buyers will qualify. Sales will slow down meaning pending sales will continue to decline and the inventory will increase. The Miami Board of Realtors reported that the number of homes on the market increased by 16% and sales for existing homes decreased by 15.3% during the third quarter of the year.
However, for homes priced between $200,000 and $600,000 sales increased by over 10%. The average sale price in Miami Springs was approximately $383,000.
To read the article: http://www.miamiherald.com/news/business/real-estate-news/article112344067.html
In case you missed it, take the tour to see a true princess of a home.
301 Deer Run, Miami Springs, FL 33166
http://tours.southfloridavirtualtour.com/646570?idx=1
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The Current Market
The Miami Springs Real Estate market continues to be full of activity. During the period of Friday October 28, 2016 through November 4, 2016, there were 5 new listings, 1 closed sales, 0 pending sales and 0 expired listing.
The table below gives you the current status of the Miami Springs real estate market as of Friday November 4, 2016. Closed sales are within last 90 days.
HOW DOES YOUR HOUSE COMPARE??
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. Please send your request to charlie@leonardrealestategroup.com.
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We offer complete real estate services and we always have fresh coffee.
“Coffee with Charlie” every Sunday from 10:00 am to 12 Noon.
Open Monday through Friday from 10:00 am to 6:00 pm. Saturday and Sunday 10:00 am to 2:00 pm. Appointments are also available upon request.
190 Westward Drive, Miami Springs, Fl 33166
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Interest rates continue to remain low. Truly a great time to buy.
Sellers if you are considering selling the prices have increased dramatically in Miami Springs.
Take advantage now.
Beautiful Miami Springs. Tree City USA. Our secret paradise in Miami Dade County!
STAY INFORMED!
Thank You
Charlie
