Existing-Home Sales Track Up 3.6 Percent
To cap off 2019, existing-home sales tracked up, according to the December National Association of REALTORS® report this week. December’s adjusted annualized rate of sales totaled 5.54 million, climbing 3.6 percent month-over-month and 10.8 percent year-over-year.…READ MORE
Single-Family Rentals Hot and Getting Hotter
Property owners of single-family rentals continue to see climbing profits. U.S. single-family rents rose 3% year-over-year in November 2019, according to CoreLogic’s Single-Family Rent Index, released this week. The index measures rent changes among single-family rental homes, including condos. Since 2010, single-family rents have been increasing, stabilizing at around 3% since early 2019, CoreLogic reports. Rents for lower-priced homes are… READ MORE
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The Current Miami Springs Market
Inventory is even Tighter this week in Miami Springs & VG There are only 22 active listings this week. In January 2019 my report showed 48 active listings. This represents a over 50% decrease in inventory in one year. This is especially good for sellers
20 active listings this week
0 closed sales this week
8 listings under $400,000 (Note:The inventory has tightened in the last month)
5 listings between $400,000 and $500,000
9 active listings are priced over $500,000
1 properties are listed over $1,000,000.
7 active listings have had a price reductions (0 this week).
What does this mean? Usually, the property was overpriced from the beginning.
- 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 January 17, 2020 through January 24, 2020 there were reported 2 new listings, 1 closed sale, 0 pending sales, 4 actives with contract, 0 expired listings, 1 cancelled listing, 0 Temp off market, 0 price reductions and 1 price increase. Interest rates remain low. A GREAT TIME TO BUY OR SELL.
Low Inventory + Low Interest rates = Sellers Market.
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, January 24, 2020. 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: email@example.com
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