It finally happened! CLOSED SALES AVERAGE OVER $500,000!
Miami Springs, here is your market report. If you are ready to buy or sell, we are ready to earn your business. We’re here for all your real estate needs. The table below shows the current status of the Miami Springs/VG real estate market as of Friday, July 9, 2021. All closed sales are within the last 90 days and all data per MLS.
Keep an eye on increasing inventory. There are now 21 active listings in the MS/VG market. However, the inventory remains low and that is why prices remain strong in Miami Springs and Virginia Gardens. There are many qualified Buyers but the low inventory makes the market favorable for Sellers. The Buyers are out there—sell now! Please refer to the articles posted on our website: http://www.LeonardRealEstateGroup.com/
Thirteen (13) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Four (4) active listing have had a price reduction (2 this week). We remain in a strong Sellers’ market with low inventory and high demand.
Mortgage interest rates remain historically low, and there are serious Buyers buying. Timing is everything! The demand is high, especially for properties under $400,000. There are currently no listings under $400,000. The lowest priced listing is a 3 bedroom/1 bathroom “fixer-upper” for $415,000! This lack of inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Eight (😎 properties are priced between $400,000-$500,000; seven (7) properties are priced between $500,000-$700,000; two (2) properties are priced between $700,000-$800,000; and four (4) properties are priced between $800,000 and over $1 million.