The table below shows the current status of the Miami Springs/VG real estate market as of Friday, March 18, 2022. All closed sales are within the last 90 days and all data is per the MLS. During the period of March 11, 2022 through March 18, 2022, there were reported 4 new listing, 3 closed sales, 4 pending sales, 5 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 2 price reductions, and 1 price increase.
There are 15 active listings in the MS/VG market this week. Inventory has averaged under 18 listings the last several months, which makes for a very tight market for Buyers. Values remain very, very strong in Miami Springs and Virginia Gardens. There are still many qualified Buyers out there! It is still a Sellers’ market.
All fifteen (15) listings are priced over $500,000. Three (3) properties are listed over $1,000,000. Five (5) active listings have had a price reduction (2 this week). We remain in a very strong Sellers’ market with high demand and higher interest rates coming in 2022. We anticipate that inventory will increase later this year.
Average Miami Springs Home (Last 90 Days)
Looking at the closed sales over the last 90 days, the 30 homes that were sold averaged $633,697. The average size was 1,749 sq ft with an average price per sq ft of $375.11.
