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Home-Flipping Drops Along with Investment Returns

In the third quarter, 56,566 U.S. single-family homes and condos were flipped, down 12.9% from the previous quarter and down 6.8% year-to-year, according to ATTOM Data Solutions’ third-quarter 2019 U.S. Home Flipping Report. After an unusually lively flipping market in the spring of this year, the 3Q declines stood out as the largest quarterly and annual drops since the third quarter of 2014. …READ MORE

Buyer Traffic Remains High, Especially in the South

The weather may be getting chillier in many parts of the country, but that hasn’t deterred potential home buyers from touring homes for sale. Buyer traffic in October saw an uptick in all four major regions of the U.S. It was also the first annual increase for the month since 2017, according to the latest Showing Time Showing Index report. Overall, buyer traffic nationwide increased 5.5% year over year in October, the largest increase since March 2018. The South region – an area that includes Florida – saw the...READ MORE

The Miami Springs & VG markets continue to be strong.

Inventory remained stable.

This is good for buyers and sellers

34 active listings this week, with 3 new ones

5 closed sales this week (2 over a million)

11 listings under $400,000 (Note:The inventory in this price range has increased during the last few weeks)

11 listings between $400,000 and $500,000

12 active listings are priced over $500,000

1 property is listed over $1,000,000.

15 active listings have had a price reductions (0 this week).

What does this mean? Usually, the property was overpriced from the beginning. The sellers are recognizing the market is changing. Prices are not increasing as fast as the last several years. Sellers should not miss potential buyers and deal with increased competition.

Sellers that haven’t been able to sell their property in this market should re-evaluate their pricing, strategy and adjust accordingly based on their market circumstance.

Timing is everything. If you re on the fence about selling, get off and put your house on the market.

During the period of December 6, 2019, through December 13, 2019 there were reported 3 new listings, 5 closed sales, 3 pending sales, 1 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 0 price reductions and 1 price increase. Interest rates remain low. A GREAT TIME TO BUY OR SELL.

Attention Sellers!

Low Inventory + Low Interest rates + Increasing prices = Sellers Market.

The Market will change. Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, December 13, 2019. 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: charlie@leonardrealestategroup.com

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