What Does the Future Hold?
The Outlook Is Cloudy
The markets have been churning at a steady pace from late summer into early fall, but is this coronavirus recovery continuing into the winter and beyond? According to Zillow®’s recent Home Price Expectations Survey, economists expect strong home prices to continue through at least 2021. After that, however, there’s too much economic uncertainty to say for sure what will happen. According to the report, economists are predicting…READ MORE
6 Home Improvements You Should Make Before Selling During the COVID-19 Era—and Beyond
We’re more than six months into the COVID-19 era with no clear end in sight. As many people continue working and logging in to school from home, the real estate market is again heating up with buyers eager to upgrade to a new home. So stop putting it off: Now is the time to step on the gas in preparing your home to sell. We talked with experts to learn which home improvements will hit the right note with buyers during the pandemic (and beyond)… READ MORE
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The Current Miami Springs Market
The market remains active! There are only 33 active listings this week– much lower inventory compared to last year. This is great news for Sellers. The market is still hot. Please refer to the article posted on our website.
Nineteen (19) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Seventeen (17) active listings have had a price reduction (5 this week). This usually means that the property is overpriced. Some Sellers may want to re-evaluate their pricing to motivate Buyers. We are still in a Seller’s market and there should be fewer price reductions as the inventory decreases.
Sellers thinking about selling should act quickly and get their property on the market. Prices remain strong.
MULTIPLE OFFERS ARE BACK AND LISTINGS ARE SELLING OVER LIST PRICE!!
Mortgage interest rates remain low, and there are serious Buyers buying! Timing is everything. If you're on the fence about selling, now is the time to get off and put your house on the market.
The demand is high for properties under $400,000. There are two (2) listings under $400,000. The lowest priced active listing is $325,000. This will make it more difficult for Buyers looking in that range due to competition from other Buyers. Competition and multiple offers are becoming more frequent. Eleven (11) properties are priced between $400,000-$500,000. Ten (10) properties are priced between $500,000-$700,000.
Property price reductions? What does this mean? Usually, the property was overpriced from the beginning. However, sellers are recognizing the market change. There are less price reductions as the inventory decreases. Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy and adjust accordingly based on the current market circumstances.
During the period of September 18, 2020 through September 25, 2020 there were reported 1 new listing, 2 closed sales, 2 pending sales, 1 active with contract, 0 expired listings, 0 cancelled listings, 1 Temp off market, 5 price reductions and 0 price increases. Interest rates remain low. A GREAT TIME TO BUY OR SELL.
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, September 25, 2020. 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: email@example.com
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