Did you know that The Leonard Real Estate Group was responsible for 39 real estate transactions in Miami Springs in 2019? That ranks #1 in Miami Springs, outpacing their nearest competitor by 15 transactions. The Leonard Real Estate Group has seen the issues and solved the issues. And if you’ve ever met Charlie Leonard and Sean Pascale, you’ll realize quickly, these are really nice people who love our community and want nothing but the best for our small town.
One of the reasons The Leonard Real Estate Group is #1 in Miami Springs is their attention to details including the weekly trends in our community. Each week, The Leonard Real Estate Group shares a report of the current market conditions. It’s the kind of tedious small details they provide to market Miami Springs Real Estate better than anyone.
Here’s an example with this week’s report:
During the period of April 10, 2020 through April 17, 2020 there were reported 2 new listings, 4 closed sales, 1 pending sale, 0 active with contract, 0 expired listings, 0 cancelled listings, 3 Temp off market, 1 price reductions and 0 price increase.
Inventory remains below 30, with only 29 active listings this week. That continues to represent a significant reduction in inventory compared to last year. This is good news for sellers. The bad news is CORONAVIRUS has slowed things down a bit due to precautions taken and current social distancing recommendations. However, we are optimistic that things will improve once again by summer.
Fourteen listings are priced over $500,000.
One property is listed over $1,000,000.
Three active listings have had a price reduction (1 this week). This usually means that the property is overpriced. However, given the current low inventory, sellers are recognizing that the market is in a strong seller’s market and there are less price reductions as the inventory decreases. Once we get over this virus situation Sellers thinking about selling should act quickly and get their property on the market. Prices remain strong. Mortgage Interest rates remain low.
The demand is high for properties under $400,000. There are only 7 listings under $400,000. This will make it more difficult for buyers looking in that range because of the competition from other buyers. Multiple Offers expected for entry level buyers. Eight (8) are priced between $400-500,000.
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.
Contact The Leonard Real Estate Group for a personal evaluation of your home.