HEADING FULL STEAM INTO 2022

As the days grow shorter and the year draws to a close, the real estate market is heading full-steam into 2022 and bringing record high prices with it.

Looking ahead to 2022, Zillow has released a list of predictions about what one could expect in the near future after seeing a record-setting year in housing that shows no signs of slowing.

As a whole, Zillow’s economists expect 2022 to remain short of 2021, but they still expect the market to remain incredibly strong in terms of price growth and sales volume. Their experts predict a 11% home growth value for the year, much less than the estimated annualized 19.5% growth rate seen this year, and expect that a total of 6.35 million existing homes will be sold on the market compared to the 6.12 million that are expected to be sold by the end of the year. This would be the highest number of homes sold since the Great Recession.

Sellers are also expected to hold all the cards next year as limited inventory will continue to create bidding wars, which in turn will drive up prices. But …READ MORE

The Current Miami Springs Market

A GREAT TIME TO SELL!

There are 16 active listings in the MS/VG market. The inventory remains low. It has fluctuated the last several months between 18-22 listings, which makes the market very tight for Buyers, as reflected in the decrease of pending sales. Prices remain very strong in Miami Springs and Virginia Gardens. There are many qualified Buyers, but the market is still favorable for Sellers. The Buyers are out there—sell now! Please refer to the articles posted on our website.

Twelve (12) listings are priced over $500,000. Three (3) properties are listed over $1,000,000. Ten (10) active listings have had a price reduction (0 this week). We remain in a strong Sellers' market with high demand. The market will change! Increased inventory is on the horizon, with increased foreclosures coming later this year.

MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!

Mortgage interest rates continue to remain historically low, and there are serious Buyers looking for the right property. Timing is everything! The demand is high, especially for properties under $400,000. There are no listings under $400,000. The low 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; seven (7) properties are priced between $500,000-$600,000; zero (0) properties are priced between $600,000-$700,000; two (2) properties are priced between $700,000-$800,000; zero (0) properties are priced between $800,000-$900,000; and three (3) properties are priced over $1 million.

SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
SELL NOW!

During the period of December 3, 2021 through December 10, 2021, there were reported 0 new listings, 1 closed sale, 1 pending sale, 2 active with contract, 1 expired listing, 0 cancelled listings, 0 Temp off market, 0 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 Friday, December 10, 2021. 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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