The Miami Springs and Virginia Gardens markets continue to be very strong. The demand is high for any property under $400,000, but the inventory remains low resulting in a lack of affordable entry level homes.
The low inventory and increasing interest rates will be an obstacle to first home buyers but a shift is on the way, towards a Buyers’ market!
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, November 9th, 2018. All closed sales are within last 90 days.
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Price per square foot has remained stable around $245. Remember, typically the rule is that the larger the home the less per square foot. The opposite is true for smaller homes. Reach out anytime you’d like a free consolation.
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