According to a recently published report by The Leonard Real Estate Group, the average price of sold homes in Miami Springs surpassed $800,000! We’re not talking about the asking price. We’re talking about the averaged closed sale over the last 90 days.
Read the full report from The Leonard Real Estate Group below:
The table above shows the current status of the Miami Springs/VG real estate market as of Friday, May 31 2024. All closed sales are within the last 90 days and all data as per MLS records.
During the period of May 24, 2024 through May 31, 2024, there were reported 1 new listing, 3 closed sales, 1 pending sale, 0 active with contract, 0 expired listings, 0 cancelled listings, 0 temp off market, 2 price reductions, and 0 price increases.
There are currently thirty one (31) active listings in the MS/VG market this week. Inventory has remained around 30+/- listings these last months.
- Fifteen (15) active listings over one million dollars.
- Thirteen (13) of the active listings have had a price reduction; two (2) this week.
- There is (1) pending sale this week. We have been transitioning to a more neutral market.
- Two (2) properties are priced between $500,000-$600,000;
- Four (4) are priced between $600,000-$700,000;
- Six (6) are priced between $700,000-$800,000;
- Two (2) are priced between $800,000-$900,000;
- Two (2) are priced between $900,000-$1,000,000;
- Thirteen (13) between $1-2 million;
- Two (2) houses listed for over $2.5 million.
The number of days properties are staying on the market is now averaging 69 days, a slight drop but still far above past reports. Although inventory is rising, most of the new homes are $800,000+ and some are staying on the market longer than in the past.
Mortgage rates have recently dipped just below 7%. Contact us anytime with your real estate questions!
