We recently sat down with Charlie Leonard and Sean Pascale from The Leonard Real Estate Group to review the changes in the Miami Springs Real Estate Market in 2022, the current state of the market, and the outlook for 2023.  You’re going to be surprised when you watch the video and read this report…

ABOUT MIAMI SPRINGS

Miami Springs, Florida is a city located in Miami-Dade County, known for its tree-lined streets, historic architecture, and world class 18 hole golf course. The real estate market in Miami Springs has been on an upward trend in recent years, with a steady increase in home values and a decrease in the number of homes for sale.

One of the main factors driving the real estate market in Miami Springs is the city’s prime location and proximity to the City of Miami, the City of Miami Beach, Miami International Airport, and all that South Florida has to offer. Miami-Dade County has seen a huge influx of new residents coming from other states like New York and California as they seek a more tax friendly state with relatively affordable real estate in comparison to prices in those states.  In addition, there has also been an increase in migrants moving to Miami-Dade County from Cuba, Haiti, and Central American countries.  This has created a housing crunch where there’s more demand for housing units than available supply at the low end, mid range, and high end of the income spectrum.

Class Gentrification

Unfortunately, the rapid rise in prices makes home ownership in Miami Springs for the middle class much harder to obtain.  While Miami Springs is still very much a middle-class income neighborhood, the rising prices and the income requirement to purchase a single family home in Miami Springs is limiting new home purchases to upper middle-class and upper income families.

Homes under $300,000

Ha…That’s funny.  Homes under $300,000 don’t exist anymore in Miami Springs or Virginia Gardens.

Homes under $400,000

Only 2 homes were sold in 2022 for less than $400,000.  All of them were under 1,000 Sq Ft.  Some were wood frame homes that needed rehabilitation.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
181 Truxton Dr $350,000 3 1 918 0 7,680
117 Pine Ave $340,000 3 1 918 1 7,600
6338 NW 40th St $305,000 3 1 962 1 6,000

Homes under $500,000

There were 13 homes sold in 2022 in Miami Springs and Virginia Gardens for less than a half million dollars and over $400,000.  Homes under $500k averaged 1,256 Square Feet of living area with an average lot size of 7,529 Sq Ft.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
530 Lee Drive $495,000 3 2 1,707 1
6281 NW 37th Ter $490,000 3 1 1,039 1 6,200
1101 Oakwood Dr $490,000 3 3 1,603 0 9,150
473 Falcon Ave $490,000 2 1 1,020 1 6,350
830 Nightingale Ave $470,000 4 2 1,428 0 9,169
419 Falcon Ave $460,000 2 1 1,122 0 6,350
480 S Royal Poinciana Blvd $460,000 2 2 980 0 6,672
6695 NW 38th St $455,000 3 2 1,490 0 6,284
6361 NW 37th Ter $450,000 3 1 1,039 1 6,200
6361 NW 40 St $450,000 3 1.5 1,135 0 6,000
270 Laurel Way $449,000 2 1 1,052 0 6,350
144 South Dr $425,000 3 2 1,441 2 15,625
5880 NW 38th St $420,000 4 2 1,277 0 6,000

 

Homes under $600,000

There were 34 homes sold in 2022 in Miami Springs and Virginia Gardens that closed at a price between half a million dollars and under $600,000.  Homes under $600k averaged 1,414 Square Feet of living area with an average lot size of 8,387 Sq Ft.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
270 Linwood Dr $599,000 3 2 1,577 3 10,650
1271 Meadowlark Ave $595,000 3 2 1,783 2 8,415
1170 Oriole Ave $590,000 3 2 2,221 0 9,480
441 De Soto Dr $590,000 3 3 1,748 0 14,200
560 Forrest Drive $589,000 4 3 1,650 1
89 Ludlam Dr $585,000 3 2 1,474 0 7,150
435 Cardinal St $585,000 2 2 1,424 1 10,125
516 La Villa Dr $585,000 4 2 1,378 1 10,650
3922 NW 58th Ct $580,000 2 2 1,468 0 6,000
85 South $560,000 3 2 1,353 0
580 Lee Dr $550,000 3 2 1,533 0 8,450
581 Lee Dr $550,000 4 2 1,630 1 7,425
225 Corydon Dr $550,000 3 2 1,953 0 7,100
531 Forrest Dr $550,000 3 2 981 1 8,436
1543 Westward Dr $545,000 3 2 1,096 1 8,000
1070 Wren Ave $540,000 3 2 1,056 1 9,525
651 Swan Ave $540,000 3 2 984 0 10,125
520 Forrest Dr $540,000 4 3 1,412 0 9,675
889 La Baron Dr $535,000 2 1 1,043 1 8,591
1240 Plover Ave $530,000 3 1 1,060 0 9,525
165 Lawn Way + Cottage $530,000 3 2 1,891 4 6,350
951 Plover Ave $530,000 3 1 1,272 0 9,525
1121 Falcon Ave $525,000 4 3 2,089 1 9,525
600 Minola Dr $525,000 2 1 840 1 9,940
6260 NW 40th St $523,000 3 1 962 1 6,000
6685 38th Ter $520,000 4 2 1,310 0 6,014
266 Hammond Dr $520,000 3 1 1,110 0 7,620
6220 NW 37th Ter $515,000 3 2 1,132 1 6,200
951 Falcon Ave $510,000 3 1 1,100 1 9,525
6420 NW 38th Ter $505,000 3 2 1,125 0 6,000
260 Laurel Way $501,250 2 1 943 1 6,350
100 Truxton Dr $500,000 3 1 1,102 0 6,350
324 Palmetto Dr $500,000 2 1 1,296 0 6,350
216 Shadow Way $500,000 3 3 3,081 0 10,880

 

Homes under $700,000

There were 31 homes sold in 2022 in Miami Springs and Virginia Gardens that closed at a priced between $600k and under $700k.  Homes under $700k averaged 1,679 Square Feet of living area with an average lot size of 9,387 Sq Ft.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
30 Bentley Dr $688,900 3 2 1,710 1 9,849
1240 N Oriole Ave $685,000 4 2 1,604 0 9,375
1131 Nightingale Ave $685,000 3 2 1,371 0 10,325
515 Lafayette Dr $685,000 3 2 1,188 0 7,620
157 Glendale Drive $685,000 3 3 1,816 2 11,430
6250 NW 37th Ter $680,000 4 2 1,777 3 16,120
1126 Dove Ave $678,000 3 2 2,110 1 9,525
620 Cardinal St $673,000 3 2 1,153 0 9,518
80 Whitethorn Dr $670,000 4 2 1,720 0 11,600
901 Apache St $670,000 4 3 2,003 1 8,648
168 Hough Dr $662,500 4 3 1,908 0 7,827
370 Hibiscus Dr $660,000 3 2 1,495 0 8,400
249 Duval Dr $660,000 2 2 1,319 1 12,700
369 Pinecrest Dr $655,000 3 2 1,758 0 9,760
1275 Bluebird Ave $650,000 3 2 1,653 1 9,150
5945 NW 39th St $650,000 4 3 2,134 0 8,100
633 South Dr $650,000 3 2 1,888 0 7,100
1141 Raven Ave $650,000 3 2 1,579 0 9,525
931 Falcon Ave $650,000 3 2 1,302 2 9,525
165 Lawn Way $640,000 3 2 1,891 0 6,350
1271 Meadowlark Ave $640,000 3 2 1,783 2 8,415
1285 Ludlam Dr $640,000 4 2 1,404 0 9,294
565 South Dr $640,000 3 2 1,448 0 13,490
1180 Quail Ave $635,000 3 3 2,016 1 9,563
433 Minola Dr $634,000 3 2 1,465 1 10,148
1505 Westward Dr $630,000 2 2 1,415 1 6,500
141 Pocatella St $625,000 3 2 1,554 0 10,800
271 Glendale Dr $620,800 4 3 2,192 0 7,000
3820 NW 57th Pl $620,000 4 3 2,659 0 6,000
1001 Plover Ave $605,000 2 2 1,402 1 9,628
875 WESTWARD DR $600,000 3 2 1,327 0 7,706

 

Homes under $800,000

There were 21 homes sold in 2022 in Miami Springs and Virginia Gardens that closed at a price between half $700k and under $800k.  Homes under $800k averaged 1,858 Square Feet of living area with an average lot size of 10,263 Sq Ft.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
990 Meadowlark Ave $790,000 4 2 2,039 1 12,750
1255 Dove Ave $789,000 3 2 1,946 2 10,160
17 Lenape Dr $785,000 4 3 2,099 1 9,750
226 Pinecrest Dr $780,000 4 3.5 3,092 0 8,400
9 Lenape Dr $779,500 4 3 2,232 0 13,000
30 S Royal Poinciana Blvd $775,000 3 1.5 1,569 1 8,250
1000 Falcon Ave $770,000 3 2 1,719 0 9,625
140 Pocatella St $769,000 4 3.5 1,726 0 10,800
1161 Oriole Ave $750,000 3 2 1,291 0 9,300
1238 Partridge Ave $750,000 3 2.5 1,629 0 9,525
311 Hibiscus Dr $750,000 5 3 1,617 0 8,400
920 Meadowlark Ave $750,000 3 2 1,545 2 11,067
1180 Thrush Ave $745,000 3 2 2,676 1 9,900
340 Payne Dr $745,000 3 2 2,100 0 11,700
1125 Meadowlark Ave $740,000 3 2 1,836 1 11,400
861 Wren Av $735,000 3 2 1,584 0 8,333
1520 Lenape Dr $730,000 3 2 1,501 1 15,835
617 South Dr $725,000 4 3 1,818 0 7,100
1295 Thrush Ave $710,000 4 2 1,560 0 12,570
1011 Meadowlark Ave $700,000 4 2 2,174 2 9,525
209 Fern Way $700,000 3 2 1,269 0 8,128

Homes under $900,000

There were 9 homes sold in 2022 in Miami Springs and Virginia Gardens that closed at a $800k or higher and under $900,000.  Homes under $900k averaged 2,358 Square Feet of living area with an average lot size of 10,096 Sq Ft.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
272 Hammond Dr $877,000 4 3 3,023 4 11,307
1190 Thrush Ave $875,000 3 2.5 2,158 0 10,560
1060 Oriole Ave $865,000 4 3 2,664 0 9,875
941 Oriole Ave $865,000 5 3 2,230 0 9,600
461 Curtiss Pkwy $842,000 5 3 2,495 0 14,000
175 Chippewa St $835,000 4 3 2,496 2 10,800
549 La Villa Dr $835,000 3 3 2,002 0 7,100
257 Pocatella St $825,000 3 2 2,028 0 8,100
1226 Robin Ave $810,000 3 3 2,124 0 9,525

Homes under $1,000,000

There were 5 homes sold in 2022 in Miami Springs and Virginia Gardens that closed at a price between $900k and $1 Million.  Homes in this price range averaged 2,395 Square Feet of living area with an average lot size of 12,408 Sq Ft.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
589 Minola Dr $999,900 5 5 3,232 0 12,740
557 De Leon Dr $968,500 5 2.5 2,003 0 14,200
239 Pinecrest Dr $939,900 4 4 2,378 2 15,000
1031 Ibis Ave $910,000 4 3 2,272 2 10,575
1121 Falcon Ave $905,000 4 3 2,089 1 9,525

Homes over $1,000,000

There were 6 homes sold in 2022 in Miami Springs and Virginia Gardens that closed at a price over a million dollars.  Homes over $1 Million averaged 3,348 Square Feet of living area with an average lot size of 13,828 Sq Ft.

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
1031 Hunting Lodge Dr $1,350,000 5 3 3,005 0 14,250
2251 Ludlam Dr $1,275,000 5 3 3,914 2 10,654
543 Hunting Lodge Dr $1,275,000 5 3.5 3,698 0 16,982
650 Raven Ave $1,180,000 5 3 3,875 2 10,050
117 Glendale Dr $1,125,000 3 3.5 3,293 2
721 Lenape Dr $1,050,000 4 3 2,304 2 17,202

 

The real estate market in Miami Springs is expected to continue to grow in the coming years, driven by factors such as the city’s proximity to Miami, the growing population, and the increasing demand for housing. As home values continue to rise, it is likely that the community will continue to attract more high-income individuals and families, which will in turn lead to an increase in the number of luxury home renovations.

 

Need Help Finding or Selling a Home?

Folks, we’ve been working with The Leonard Real Estate Group for several years now.  They are the top producing team in Miami Springs.  They are great partners to work with.  Charlie and Sean are very friendly, polite, and professional.  And they have the proven experience to market your home to sell it at the right price.  They also have a great track record with connecting buyers with their dream home.  Don’t hesitate in getting the help you need with the team at The Leonard Real Estate Group.

The Leonard Real Estate Group

How can I finance my home?

With rising interest rates, every quarter point matters.  Get the best possible rates for your home by working with the team that connects you with the lowest interest rates based on your individual situation.  Call the pros at The Firenze Group.  It’s a boutique company that will take the time to treat you like family, not a number.

FIRENZE GROUP, CORP

2022 Miami Springs / Virginia Gardens Home Sales Report

Address Sale Price Beds Baths Sq Ft Garage Lot SqFt
1031 Hunting Lodge Dr $1,350,000 5 3 3,005 0 14,250
2251 Ludlam Dr $1,275,000 5 3 3,914 2 10,654
543 Hunting Lodge Dr $1,275,000 5 3.5 3,698 0 16,982
650 Raven Ave $1,180,000 5 3 3,875 2 10,050
117 Glendale Dr $1,125,000 3 3.5 3,293 2
721 Lenape Dr $1,050,000 4 3 2,304 2 17,202
589 Minola Dr $999,900 5 5 3,232 0 12,740
557 De Leon Dr $968,500 5 2.5 2,003 0 14,200
239 Pinecrest Dr $939,900 4 4 2,378 2 15,000
1031 Ibis Ave $910,000 4 3 2,272 2 10,575
1121 Falcon Ave $905,000 4 3 2,089 1 9,525
272 Hammond Dr $877,000 4 3 3,023 4 11,307
1190 Thrush Ave $875,000 3 2.5 2,158 0 10,560
1060 Oriole Ave $865,000 4 3 2,664 0 9,875
941 Oriole Ave $865,000 5 3 2,230 0 9,600
461 Curtiss Pkwy $842,000 5 3 2,495 0 14,000
175 Chippewa St $835,000 4 3 2,496 2 10,800
549 La Villa Dr $835,000 3 3 2,002 0 7,100
257 Pocatella St $825,000 3 2 2,028 0 8,100
1226 Robin Ave $810,000 3 3 2,124 0 9,525
990 Meadowlark Ave $790,000 4 2 2,039 1 12,750
1255 Dove Ave $789,000 3 2 1,946 2 10,160
17 Lenape Dr $785,000 4 3 2,099 1 9,750
226 Pinecrest Dr $780,000 4 3.5 3,092 0 8,400
9 Lenape Dr $779,500 4 3 2,232 0 13,000
30 S Royal Poinciana Blvd $775,000 3 1.5 1,569 1 8,250
1000 Falcon Ave $770,000 3 2 1,719 0 9,625
140 Pocatella St $769,000 4 3.5 1,726 0 10,800
1161 Oriole Ave $750,000 3 2 1,291 0 9,300
1238 Partridge Ave $750,000 3 2.5 1,629 0 9,525
311 Hibiscus Dr $750,000 5 3 1,617 0 8,400
920 Meadowlark Ave $750,000 3 2 1,545 2 11,067
1180 Thrush Ave $745,000 3 2 2,676 1 9,900
340 Payne Dr $745,000 3 2 2,100 0 11,700
1125 Meadowlark Ave $740,000 3 2 1,836 1 11,400
861 Wren Av $735,000 3 2 1,584 0 8,333
1520 Lenape Dr $730,000 3 2 1,501 1 15,835
617 South Dr $725,000 4 3 1,818 0 7,100
1295 Thrush Ave $710,000 4 2 1,560 0 12,570
1011 Meadowlark Ave $700,000 4 2 2,174 2 9,525
209 Fern Way $700,000 3 2 1,269 0 8,128
30 Bentley Dr $688,900 3 2 1,710 1 9,849
1240 N Oriole Ave $685,000 4 2 1,604 0 9,375
1131 Nightingale Ave $685,000 3 2 1,371 0 10,325
515 Lafayette Dr $685,000 3 2 1,188 0 7,620
157 Glendale Drive $685,000 3 3 1,816 2 11,430
6250 NW 37th Ter $680,000 4 2 1,777 3 16,120
1126 Dove Ave $678,000 3 2 2,110 1 9,525
620 Cardinal St $673,000 3 2 1,153 0 9,518
80 Whitethorn Dr $670,000 4 2 1,720 0 11,600
901 Apache St $670,000 4 3 2,003 1 8,648
168 Hough Dr $662,500 4 3 1,908 0 7,827
370 Hibiscus Dr $660,000 3 2 1,495 0 8,400
249 Duval Dr $660,000 2 2 1,319 1 12,700
369 Pinecrest Dr $655,000 3 2 1,758 0 9,760
1275 Bluebird Ave $650,000 3 2 1,653 1 9,150
5945 NW 39th St $650,000 4 3 2,134 0 8,100
633 South Dr $650,000 3 2 1,888 0 7,100
1141 Raven Ave $650,000 3 2 1,579 0 9,525
931 Falcon Ave $650,000 3 2 1,302 2 9,525
165 Lawn Way $640,000 3 2 1,891 0 6,350
1271 Meadowlark Ave $640,000 3 2 1,783 2 8,415
1285 Ludlam Dr $640,000 4 2 1,404 0 9,294
565 South Dr $640,000 3 2 1,448 0 13,490
1180 Quail Ave $635,000 3 3 2,016 1 9,563
433 Minola Dr $634,000 3 2 1,465 1 10,148
1505 Westward Dr $630,000 2 2 1,415 1 6,500
141 Pocatella St $625,000 3 2 1,554 0 10,800
271 Glendale Dr $620,800 4 3 2,192 0 7,000
3820 NW 57th Pl $620,000 4 3 2,659 0 6,000
1001 Plover Ave $605,000 2 2 1,402 1 9,628
875 WESTWARD DR $600,000 3 2 1,327 0 7,706
270 Linwood Dr $599,000 3 2 1,577 3 10,650
1271 Meadowlark Ave $595,000 3 2 1,783 2 8,415
1170 Oriole Ave $590,000 3 2 2,221 0 9,480
441 De Soto Dr $590,000 3 3 1,748 0 14,200
560 Forrest Drive $589,000 4 3 1,650 1
89 Ludlam Dr $585,000 3 2 1,474 0 7,150
435 Cardinal St $585,000 2 2 1,424 1 10,125
516 La Villa Dr $585,000 4 2 1,378 1 10,650
3922 NW 58th Ct $580,000 2 2 1,468 0 6,000
85 South $560,000 3 2 1,353 0
580 Lee Dr $550,000 3 2 1,533 0 8,450
581 Lee Dr $550,000 4 2 1,630 1 7,425
225 Corydon Dr $550,000 3 2 1,953 0 7,100
531 Forrest Dr $550,000 3 2 981 1 8,436
1543 Westward Dr $545,000 3 2 1,096 1 8,000
1070 Wren Ave $540,000 3 2 1,056 1 9,525
651 Swan Ave $540,000 3 2 984 0 10,125
520 Forrest Dr $540,000 4 3 1,412 0 9,675
889 La Baron Dr $535,000 2 1 1,043 1 8,591
1240 Plover Ave $530,000 3 1 1,060 0 9,525
165 Lawn Way + Cottage $530,000 3 2 1,891 4 6,350
951 Plover Ave $530,000 3 1 1,272 0 9,525
1121 Falcon Ave $525,000 4 3 2,089 1 9,525
600 Minola Dr $525,000 2 1 840 1 9,940
6260 NW 40th St $523,000 3 1 962 1 6,000
6685 38th Ter $520,000 4 2 1,310 0 6,014
266 Hammond Dr $520,000 3 1 1,110 0 7,620
6220 NW 37th Ter $515,000 3 2 1,132 1 6,200
951 Falcon Ave $510,000 3 1 1,100 1 9,525
6420 NW 38th Ter $505,000 3 2 1,125 0 6,000
260 Laurel Way $501,250 2 1 943 1 6,350
100 Truxton Dr $500,000 3 1 1,102 0 6,350
324 Palmetto Dr $500,000 2 1 1,296 0 6,350
216 Shadow Way $500,000 3 3 3,081 0 10,880
530 Lee Drive $495,000 3 2 1,707 1
6281 NW 37th Ter $490,000 3 1 1,039 1 6,200
1101 Oakwood Dr $490,000 3 3 1,603 0 9,150
473 Falcon Ave $490,000 2 1 1,020 1 6,350
830 Nightingale Ave $470,000 4 2 1,428 0 9,169
419 Falcon Ave $460,000 2 1 1,122 0 6,350
480 S Royal Poinciana Blvd $460,000 2 2 980 0 6,672
6695 NW 38th St $455,000 3 2 1,490 0 6,284
6361 NW 37th Ter $450,000 3 1 1,039 1 6,200
6361 NW 40 St $450,000 3 1.5 1,135 0 6,000
270 Laurel Way $449,000 2 1 1,052 0 6,350
144 South Dr $425,000 3 2 1,441 2 15,625
5880 NW 38th St $420,000 4 2 1,277 0 6,000
181 Truxton Dr $350,000 3 1 918 0 7,680
117 Pine Ave $340,000 3 1 918 1 7,600
6338 NW 40th St $305,000 3 1 962 1 6,000

SOURCE:  The Leonard Real Estate Group

 

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