Week of August 23, 2026

Hello, Miami Springs. Here is your Weekly Market Report. If you are ready to buy or sell, The Leonard Real Estate Group is ready to earn your business. We are Miami Springs.

The table below shows the current status of the Miami Springs/VG single-family home market as of August 23, 2026. All figures reflect the trailing 90 days of MLS activity, and all data is per the MLS.

*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.

There are twenty-nine (29) active single-family listings in the MS/VG market right now, averaging $1,263,628 on about 2,095 sq ft, or $608 per sq ft. There are currently four (4) listings active with a contract. Over the trailing 90 days, thirty (30) homes closed, averaging $857,667 on roughly 1,744 sq ft, or $521 per sq ft. Five (5) more are currently pending sale, averaging $964,800 on about 1,899 sq ft, or $521 per sq ft.

There is one (1) active listing over $3 million (409 De Leon Dr, $3,967,000) and four (4) more over $2 million (188 Cherokee St, 901 Dove Ave, 325 Ludlam Dr, and 588 Miller Dr). On the closed side, the top sale of the period was 37 Deer Run at $1,650,000, followed by 520 Morningside Dr at $1,500,000. Two homes closed at or above their asking price — 640 Cardinal St sold for $600,000 against a $565,000 list, and 240 Nahkoda Dr closed at $701,000 on a $699,999 list. Days on market (DOM) for active listings averages 119 days, while pending sales averaged 107 days on market before going under contract and closed sales averaged 64 days on market before closing. There were nine (9) price reductions and two (2) price increases (409 De Leon Dr and 508 De Leon Dr) among current listings.

Miami Springs/VG is running at an estimated trailing pace of about 8.1 sales per month. Against 29 current active listings, that puts the market at roughly 3.6 months of supply — solidly in seller’s market territory (under 5 months). Homes that closed over the trailing 90 days sold at an average of 95.9% of list price, up from 95.4% last week, so sellers continue to hold most of the leverage.

Mortgage rates eased again this week, with the 30-year fixed averaging 6.65% per Freddie Mac’s Primary Mortgage Market Survey (published Thursday, 8/20/26), down from 6.67% the week before. That is the second consecutive weekly decline. The 15-year fixed averaged 5.95%, essentially flat from 5.96%. A year ago the 30-year fixed averaged 6.58%, so rates remain modestly above where they sat last August.

Inventory Breakdown (Actives): There are zero (0) properties priced under $500,000; one (1) between $500,000–$600,000; two (2) between $600,000–$700,000; five (5) between $700,000–$800,000; seven (7) between $800,000–$900,000; four (4) between $900,000–$1,000,000; five (5) between $1–2 million; four (4) between $2–3 million; and one (1) over $3 million.

Also this period: two (2) listings expired, two (2) went temporarily off market, and one (1) was withdrawn.

The headline number this week is the drop in the closed-sale average, from $916,897 to $857,667. That is less a market move than a calendar one — the $2,325,000 sale at 81 S Royal Poinciana Blvd rolled out of the trailing 90-day window, and with it went the single largest figure in the closed pool. Strip that out and the underlying picture is steady: thirty homes closed instead of twenty-nine, closed price per square foot barely moved from $525 to $521, and the list-to-sale ratio actually improved to 95.9%. Homes are also closing faster, with average DOM at closing down from 66 days to 64. Active inventory held at 29 and months of supply held at 3.6, but the composition shifted at the front of the pipeline: pending sales fell from eight to five while listings active with a contract held at four, which reads as contracts clearing through to closing faster than new ones are being written. Average days on market for the actives that remain climbed from 110 to 119, and with nine price cuts against two increases, that is the same story it has been all summer — the well-priced homes in the $700,000 to $900,000 band are turning over, and the listings accumulating days are the ones that came out high. Twelve of the 29 actives sit in that $700,000 to $900,000 range, which is where the real competition is.

As always, if you are ready to buy or sell, we are ready to earn your business. We are Miami Springs.

- Charlie & Sean