26 Aug 2018

Miami Springs Real Estate Market Report August 27th, 2018

by leonardrealestategroup | posted in: blog | 0

Existing-Home Sales Stuck

For the fourth month straight, existing-home sales slid, the National Association of REALTORS® (NAR) reports. Activity declined 0.7 percent in July, to 5.34 million, down 1.5 percent from the prior year. Inventory rewound, as well, down 0.5 percent to 1.92 million. “Led by a notable decrease in closings in the Northeast, existing-home sales trailed off again last month, sliding to their slowest pace since February 2016 at 5.21 million,” says Lawrence Yun, chief economist at NAR. “Too many would-be buyers are either being priced out, or are…READ MORE

What Is a Mortgage Note

and Do You Know Where Yours Is?

Also known as a promissory note or deed of trust note, it's the basic loan contract given to you by your lender—the document you signed on the dotted line to make your deal official. A mortgage note is an important piece of paperwork to keep in your files for a variety of reasons. Here's a rundown of what's on this document, and…. READ MORE

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The Current Miami Springs Market

The Miami Springs and Virginia Gardens markets continue to be very strong. The demand is high for any property under $400,000, but the inventory remains low. and the lack of affordable entry level homes will be an obstacle for first time home buyers.

Its a Seller's market but although the inventory is tight there are still very good buying opportunities for buyers

IT REALLY IS A GOOD TIME TO BUY OR SELL.

The market was very active during the period of August 17th, through August 24th, 2018, there were 3 new listings, 2 closed sales, 3 pending sales, and 0 expired listings.

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, August 24th, 2018. All closed sales are within 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: charlie@leonardrealestategroup.com

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