Are You Truly Ready To Downsize?
There’s a host of reasons for downsizing to a smaller home. You might want to pocket the savings and build upon your nest egg. Maybe you’re ready for a new adventure and eager to move to a high-rise condo in the city. Or finally—the kids have flown the coop, and you don’t need the extra bedrooms and bathrooms anymore.
Whatever your motive is for downsizing, an honest evaluation of your expectations is essential to make an informed decision. That’s why real estate agents say it’s wise to ask yourself these questions before you even start looking for smaller homes….READ MORE
A GREAT TIME TO SELL!!
SELLERS, THIS IS THE MOMENT! SELL NOW!
The inventory remains low. We had a drop last week and now there are only 15 active listings. This again is one of the lowest levels I can recall in my years of experience selling real estate in Miami Springs and Virginia Gardens. The market continues to be very dynamic with many buyers and that is great news for Sellers. The Buyers are out there! Please refer to the articles posted on our website.
Eleven (11) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Two (2) active listings have had a price reduction (2 this week). We are still in a strong Sellers' market with low inventory and high demand.
The market is going to change!
Likely increased inventory, with increased foreclosures coming later this year.
MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!
Mortgage interest rates remain historically low, and there are serious Buyers buying. Timing is everything! The demand is high, especially for properties under $400,000. There are currently no listings under $400,000. A lack of inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Four (4) properties are priced between $400,000-$500,000; four (4) properties are priced between $500,000-$700,000; four (4) properties are priced between $700,000-$800,000; and three (3) properties are priced between $800,000 and over $1 million.
A GREAT TIME TO BUY OR SELL!
During the period of May 7, 2021 through May 14, 2021, there were reported 1 new listing, 2 closed sales, 3 pending sales, 3 active with contract, 0 expired listings, 1 cancelled listing, 1 Temp off market, 2 price reductions and 0 price increases.
Attention Sellers!
Low Inventory + Low Interest Rates = Seller's Market.
Act Now!
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, May 14, 2021. 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: charlie@leonardrealestategroup.com
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