Is a Housing Market Crash Possible in 2021?
With the real estate market experiencing surging prices, scant inventories and a backlog of new home construction, many consumers are wondering if what’s gone up must come back down—in other words, are we headed for another housing market crash?
With the robust market activity we’ve seen lately, could there be a market crash in the near future? The short answer is “not likely.” Today’s market book cannot be sustained completely, but a crash as serious as the one from 15 years ago? Let’s take a closer look..…READ MORE
A GREAT TIME TO SELL!!
DISCOVER MIAMI SPRINGS!
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The Current Miami Springs Market
SELLERS, THIS IS THE MOMENT! SELL NOW!
The Buyers are out there! The inventory INCREASED this week and remains low. There are now only 15 active listings. The market continues to be very dynamic with many Buyers and that is great news for Sellers. Please refer to the articles posted on our website.
Nine (9) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. One (1) active listing has had a price reduction (0 this week). We are in a strong Sellers' market with low inventory and high demand.
Things are going to change!
Likely increased inventory, with increased foreclosures coming later this year.
MULTIPLE OFFERS ARE BACK AND LISTINGS ARE SELLING OVER LIST PRICE!!
Mortgage interest rates climbing but continue to be historically low, and there are serious Buyers buying! Timing is everything. The demand is high, especially for properties under $400,000. There are currently two (2) listings under $400,000. A lack of inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Four (4) properties are priced between $400,000-$500,000; three (3) properties are priced between $500,000-$700,000; two (2) properties are priced between $700,000-$800,000; and four (4) properties are priced between $800,000 and over $1 million.
A GREAT TIME TO BUY OR SELL!
During the period of April 16, 2021 through April 23, 2021 there were reported 5 new listings, 4 closed sales, 2 pending sales, 2 actives with contract, 0 expired listings, 2 cancelled listings, 1 Temp off market, 0 price reductions and 0 price increases.
Low Inventory + Low Interest Rates = Seller's Market.
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, April 23, 2021. All closed sales are within the last 90 days.
HOW DOES YOUR HOUSE COMPARE?
*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: firstname.lastname@example.org
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