New Listings Work to Keep Pace with Housing Demand

According to a new report from Redfin, the number of newly listed homes for sale during the four weeks ending February 20 was down just 2% year-over-year—the smallest decline since mid-November.

A larger pool of new listings were met with large demand, although pending sales only rose 1%, the first increase since mid-January. The market set new record highs again for home sale prices, asking prices, buyers’ mortgage payments, and the share of homes selling within days of hitting the market. A new all-time low for the total number of homes for sale was also reported.

”The good news for homebuyers is that each week more homes are being listed for sale,” said Redfin Deputy Chief Economist Taylor Marr. “There is growing evidence that …READ MORE

How to Find a Real Estate Agent

Before putting your home on the market or setting out to buy a new one, you should identify real estate agents in your community who can assist with the sale. More than two million people nationwide have licenses to sell real estate, and it’s their job to be an expert on the properties in their community. They track real estate trends and are in the business of helping others buy and sell homes. If you’re in the market for a new home, it’s wise to know how to find a real estate agent.

Whether you’re a first-time seller or someone who is looking to buy your first home, there are several ways to find a local real estate agent:...READ MORE

The Current Miami Springs Market

A GREAT TIME TO SELL!

There are 14 active listings in the MS/VG market during this week. Inventory has averaged under approximately 18 listings the last several months, which makes for a very tight market for Buyers. Values remain very, very strong in Miami Springs and Virginia Gardens. There are still many qualified Buyers out there! It is still a Sellers' market. Please refer to the articles posted on our website.

Thirteen (13) listings are priced over $500,000. Three (3) properties are listed over $1,000,000. Three (3) active listings have had a price reduction (1 this week). We remain in a very strong Sellers' market with high demand, and higher interest rates coming in 2022. We anticipate that inventory will increase later this year.

MULTIPLE OFFERS ARE BACK AND LISTINGS KEEP SELLING OVER LIST PRICE!!

Mortgage interest rates have started to increase but remain historically low. There are still serious Buyers looking for the right property. Timing is everything! The demand is high, especially for properties under $500,000. There is only one (1) listing under $500,000. This low inventory makes it difficult for most first-time Buyers, with competition from multiple offers is expected. One (1) property is priced between $400,000-$500,000; three (3) between $500,000-$600,000; three (3) between $600,000-$700,000; three (3) between $700,000-$800,000; one (1) property between $800,000-$900,000; none (0) between $900,000-$1,000,000; and three (3) over $1 million.

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

During the period of February 18, 2022 through February 25, 2022, there were reported 6 new listings, 3 closed sales, 3 pending sales, 1 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 1 price reduction, 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, February 25, 2022. 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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