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All aspects of your real estate experience will be accompanied by Results through exceptional Service and Honesty. From the onset of our marketing meeting, we are dedicated to achieve your goals. 

The Current Miami Springs Market

TIME TO BUY OR SELL?
CALL US FOR AN EVALUATION

This week there are twenty-four (24) active listings in the MS/VG market this week. Inventory has increased over the last several weeks! We are optimistic that this trend will continue but who knows! The market remains unpredictable, but one thing is for sure—despite the high interest rates and high prices, there are still many qualified Buyers out there! Values remain strong in Miami Springs and Virginia Gardens. Please refer to the articles posted on our website.

There are ten (10) active listings over one million dollars. One listing is priced for over $2,000,000! Eight (8) of the active listings have had a price reduction; one this week. There is one (1) pending sale this week. We have been transitioning to a more neutral market. However, the continued tight inventory and demand, despite higher mortgage interest rates, gives Sellers an advantage and makes it difficult for Buyers. The high interest rates also create a difficult situation for Sellers because the Sellers likely have a mortgage with a much lower interest rate. Where do they go if they decide to sell? Interest rates aside, we continue to anticipate more inventory increases.

DEMAND IS STILL THERE!

Mortgage interest rates have recently decreased to under 7%. There are still serious qualified Buyers looking for the right property. Timing is everything! Multiple offers are becoming more common again. The number of days properties are staying on the market is averaging 27 days. The demand remains high for properties under $500,000. There are no listings under $500,000. The low inventory at entry-level, higher interest rates, and homeowner insurance costs make it difficult for many first-time Buyers. No properties are priced between $400,000-$500,000; none (0) are priced between $500,000-$600,000; three (3) are priced between $600,000-$700,000; six (6) are priced between $700,000-$800,000; two (2) are priced between $800,000-$900,000; three (3) are priced between $900,000-$1,000,000; nine (9) between $1-2 million; and one (1) is listed for over $2 million.

SELLERS, THIS IS THE MOMENT TO PRICE IT RIGHT!
Increasing Inventory + Increasing Interest Rates  = Less Demand.

During the period of December 22, 2023 through December 29, 2023, there were reported 0 new listings, 0 closed sales, 1 pending sale, 0 active with contract, 0 expired listings, 1 cancelled listing, 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 29, 2023. 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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We are the Miami Springs Experts

however, we service all of South Florida

Let Us Show You How We Can Get Your Property Sold
at the Highest Possible Price