MORE LOOKING TO LIST THEIR HOMES THIS WINTER
Those who have sat on the sidelines over the last few months and held out on selling their homes are increasingly looking to get into the market, a move that could pay off big for buyers and sellers alike.
According to a new survey from Realtor.com, homeowners who plan to sell are in an “extremely advantageous” position due to the fact that the market is currently seeing houses receive multiple bids, contingency wavers, and all-cash offers.
The survey, which was conducted by HarrisX, a market research and consulting services company, found that among sellers looking to enter the market within the next year 65% expect to do so within the next six months. In addition, 93% of prospective sellers have already taken steps to begin listing their properties..…READ MORE
The Current Miami Springs Market
A GREAT TIME TO SELL!
There are 19 active listings in the MS/VG market. The inventory remains low. Though inventory has fluctuated in the last few months, it has remained between 18-22 listings, making the market very tight for Buyers. This is reflected in the decrease of pending sales. Prices remain very strong in Miami Springs and Virginia Gardens. There are many qualified Buyers, but the market is still favorable for Sellers. The Buyers are out there—sell now! Please refer to the articles posted on our website.
Sixteen (16) listings are priced over $500,000. Four (4) properties are listed over $1,000,000. Nine (9) active listings have had a price reduction (5 this week). We remain in a strong Sellers' market with high demand. The market will change! Increased inventory is on the horizon, with increased foreclosures coming later this year.
MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!
Mortgage interest rates continue to remain historically low, and there are serious Buyers looking for the right property. Timing is everything! The demand is high, especially for properties under $400,000. There are no listings under $400,000. The low inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Three (3) properties are priced between $400,000-$500,000; five (5) properties are priced between $500,000-$600,000; four (4) properties are priced between $600,000-$700,000; one (1) property is priced between $700,000-$800,000; two (2) properties are priced between $800,000-$900,000; and four (4) properties are priced over $1 million.
SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
SELL NOW!
During the period of November 5, 2021 through November 12, 2021, there were reported 1 new listing, 0 closed sales, 0 pending sale, 1 active with contract, 0 expired listings, 0 cancelled listings, 1 Temp off market, 5 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, November 12, 2021. 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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