HOME SALES REBOUND IN SEPTEMBER INVENTORY HITS FIVE-YEAR HIGH

via themortgagepoint.com—Existing-home sales increased by 1.5% month-over-month in September, according to the National Association of REALTORS Existing-Home Sales Report. The Report provides the real estate ecosystem, including agents and homebuyers and sellers, with data on the level of home sales, price, and inventory.

Sales in the Northeast, South, and West rose month over month, while those in the Midwest decreased. Sales in the Northeast, Midwest, and South increased year-over-year, while those in the West stayed same.

“As anticipated, falling mortgage rates are lifting home sales,” said NAR Chief Economist Dr. Lawrence Yun. “Improving housing affordability is also contributing to the increase in sales. Inventory is matching a five-year high, though it remains below pre-COVID levels. Many homeowners are financially comfortable, resulting in very few distressed properties and forced sales. Home prices continue to rise in most parts of the country, further contributing to overall household wealth.”

Total Existing-Home Sales for September

1.5% increase in existing-home sales month-over-month to a seasonally adjusted annual rate of 4.06 million.

4.1% increase in sales year-over-year.

Inventory in September

1.55 million units: Total housing inventory, up 1.3% from August and up 14.0% from September 2024 (1.36 million).

4.6-month supply of unsold inventory, no change from August and up from 4.2 months in September 2024.

Median Sales Price in September.…READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

There are thirty-seven (37) active listings in the Miami Springs/Virginia Gardens real estate market this week. Prices remain strong for sellers but we are seeing more price decreases on active listings. Seventeen (17) of the active listings are over $1 million. Fifteen (15) listings have had a price reduction, three (3) this week. Despite relatively higher interest rates, there are still many qualified buyers out there. Inventory increases in the months ahead? We think so!

Mortgage interest rates decreased and are expected to fluctuate between 6-6.5% the remainder of 2025. We expect additional rate cuts this year. There are still qualified buyers looking for the right property. Timing is everything. Properties are staying on the market for longer but some houses still sell quickly. It all depends on pricing, condition, and location, location, location. Days on the market (DOM) is averaging around 93.

Inventory Breakdown:

There is one (1) property under $600,000; four (4) properties are priced between $600,000-$700,000; seven (7) between $700,000-$800,000; five (5) between $800,000-$900,000; three (3) are priced between $900,000-$1,000,000; sixteen (16) between $1-2 million; and one (1) property is priced for over $2 million.

CALL US FOR AN EVALUATION

During the period of October 17, 2025 through October 24, 2025, there were reported 0 new listings, 2 closed sales, 0 pending sales, 3 active with contract, 0 expired listings, 0 cancelled listings, 0 temp off market, 3 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 October 24, 2025. 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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