THANK YOU
It was great to for our community to welcome back the River Cities Festival after two long difficult years. We were happy to participate and support the festival. It was especially nice to see so many of our clients and friends. We are very grateful for the continued support for all these years. Thank you.
Charlie
Spring Homebuying Season Sees Early Start
According to a new Monthly Housing Trends Report from Realtor.com, home prices hit a record high ahead of spring buying season, as the U.S. median listing price reached $392,000 in February. Home prices also grew at an unusually fast pace in many of the 50 largest metros, led by Las Vegas, Miami, and Tampa, Florida—seeing annual increases of 31% each. "Over the last five years, we have seen home prices break records early in the season as buyers try to get ahead of the competition. But this is the first time the record has been broken in February, signaling that competition is already heating up weeks before the start of the Spring buying season in a typical year,"…READ MORE
The Current Miami Springs Market
A GREAT TIME TO SELL!
There are 16 active listings in the MS/VG market 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.
Fifteen (15) listings are priced over $500,000. Three (3) properties are listed over $1,000,000. Five (5) active listings have had a price reduction (2 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 expected. One (1) property is priced between $400,000-$500,000; three (3) properties are priced between $500,000-$600,000; four (4) properties are priced between $600,000-$700,000; four (4) properties are priced between $700,000-$800,000; one (1) property is priced between $800,000-$900,000; none (0) between $900,000-$1,000,000; and three (3) are priced over $1 million.
SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
SELL NOW!
During the period of February 25, 2022 through March 4, 2022, there were reported 5 new listings, 1 closed sale, 6 pending sales, 2 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 2 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, March 4, 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
………………………………………………..……………………………………………………………………………
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
