2020 Real Estate Outlook:

Existing-Home Sales Rebound 1.9% in October

as Low Mortgage Rates Continue to Provide a Lift

The numbers: Sales of previously-owned homes rose 1.9% in October — the latest housing statistic to demonstrate the upward lift low mortgage rates have provided to the U.S. real-estate market. Existing-home sales occurred at a 5.46 million seasonally-adjusted annual pace in October, up from:…READ MORE

Common Repairs Needed After a Home Inspection:

What Must Sellers Fix?

If you're selling your home, you might wonder if there are common repairs needed after a home inspection. Most buyers, after all, won't commit to purchasing a place until there's been a thorough inspection by a home inspector—and rest assured, if there are problems, this professional will find them! So if your home inspection turns up flaws that your home buyer wants fixed, what then?...READ MORE

The Miami Springs & VG markets continue to be strong.

Inventory remained stable.

This is good for buyers and sellers

39 active listings this week, with 4 new ones

1 closed sales this week

14 listings under $400,000 (Note:The inventory in this price range has increased during the last few weeks)

11 listings between $400,000 and $500,000

14 active listings are priced over $500,000

1 properties are listed over $1,000,000.

18 active listings have had a price reductions (3 this week).

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 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 November 15, 2019, through November 22, 2019 there were reported 4 new listings, 1 closed sale, 2 pending sales, 2 active with contract, 1 expired listing, 1 cancelled listing, 0 Temp off market, 3 price reductions and 0 price increase. Interest rates remain low. A GREAT 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, November 22, 2019. 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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