This week was again very active:
- Inventory is still under 40 properties.
- Of the 39 active listings, over half, (19) are listed over $500,000.
- Three listings are over $1,000,000.
- 2 more listings this week under $400,000 bringing the total to 8
- Eighteen (18) active listings have had a price reduction. What does this mean? Usually, the property was overpriced from the beginning. The sellers are recognizing the market is changing. Prices are not increasing as fast as the last several years. Sellers don’t want to miss potential buyers and deal with increased competition.
The Miami Springs & VG markets continue to be very strong. The demand is very high for properties under $400,000. There are only 10 listings under $400,000. How high? Our listing at 533 Mokena Dr was listed at $399,900. At our first open house we had close to 30 people show up, several written offers, and the home is now under contract for above asking price.
During the period of March 8, through March 15, 2019 there were 5 new listings, 6 closed sales, 6 pending sales, 0 expired listings, 0 cancelled listings. There are still very good buying opportunities for buyers especially since interest rates remain very good.
The table shows the current status of the Miami Springs/VG real estate market as of Friday, March 8, 2019. All closed sales are within last 90 days.
As always, if you are ready to buy or sell in Miami Springs, we are ready to earn your business.