HOME SALE PROFIT MARGINS HIT 10-YEAR HIGH
The National Association of Realtors (NAR) has The latest U.S. Home Sales Report from ATTOM has shown that profit margins on median-priced single-family U.S. homes and condos jumped to 47.6% in Q3, hitting highs not seen since the close of the Great Recession nearly a decade ago.
In Q3, the typical U.S. single-family home delivered an average profit of $100,178 per seller, as the national median home sales price hit a record of $310,500. According to ATTOM, profit levels were up from $88,800 in Q2 of 2021 and up from $69,000 year-over-year in Q3 of 2020.
"The third quarter of this year marked another period in a banner year for a housing market boom that's steaming ahead through its 10th year. Prices and seller profits again hit new highs since the market started coming back from..…READ MORE
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All aspects of your real estate experience will be accompanied by Results through exceptional Service and Honesty. From the onset of our marketing meeting, we are dedicated to achieve your goals.
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. Three (3) properties are listed over $1,000,000. Five (5) active listings have had a price reduction (0 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. Timing is everything! The demand is high, especially for properties under $400,000. There are no listings under $400,000. This lack of 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; six (6) properties are priced between $500,000-$600,000; four (4) properties are priced between $600,000-$700,000; zero (0) properties are priced between $700,000-$800,000; three (3) properties are priced between $800,000-$900,000; and three (3) properties are priced over $1 million.
SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
During the period of October 29, 2021 through November 5, 2021, there were reported 2 new listings, 2 closed sales, 1 pending sale, 0 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 0 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 5, 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: firstname.lastname@example.org
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