February 2019 Data: Inventory Growth Points to Cooler Spring Market

Realtor.com®’s February data shows the U.S. housing market could be heading into a cooler spring market than last year. Although home prices are increasing, 14 percent of U.S. listings had price cuts in February, and the 51-month trend of declining days on market has reached a tipping point.

Nationally, homes sold in.…READ MORE

5 Sweet Tax Deductions When Selling a Home

You may be wondering if there are tax deductions when selling a home. And the answer is: You bet! But there's also a new tax code—aka the Tax Cuts and Jobs Act—causing quite a bit of confusion this filing season. Rest assured that if you sold your home last year (or are planning to in the future), the tax deductions may amount to sizable savings when you file with the IRS. …READ MORE

This week very active:

Inventory is still under 40 properties.
Of the 39 active listings, over half, (19) are listed over $500,000.
Three listings are over $1,000,000.
2 more listings his week under $400,000 bringing the total to 8
Eighteen (18) active listings have had a price reduction. 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 don’t want to miss potential buyers and deal with increased competition.

The Miami Springs & VG markets continue to be very strong. The demand is high for properties under $400,000. There are only 8 listings under $400,000. How long will this sellers’ market last? A shift is on its way. Sellers should really evaluate their position in the market in order to realize a sale quickly. Prices remain strong. Interest rates are low. A Buyer’s market is waiting in the wings!

During the period of March 1, through March 8, 2019 there were 7 new listings, 3 closed sales, 4 pending sales, 2 expired listings, 3 cancelled listings. There are still very good buying opportunities for buyers especially since interest rates remain very good. IT REALLY IS A GOOD 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, March 8, 2019. All closed sales are within 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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