The following table presents the latest information on the Miami Springs/VG real estate market as of Friday,  December 18, 2023.

Mortgage interest rates have continued to be between 7.5%-8% this past month. There are still serious qualified Buyers looking for the right property. Timing is everything! Multiple offers are becoming more common again.

The number of days properties are staying on the market is averaging 30 days. The demand remains high for properties under $500,000. There are no listings under $500,000.

  • No properties are priced between $400,000 – $500,000.
  • None (0) are listed between $500,000 – $600,000.
  • Three (3) properties are priced between $600,000 – $700,000.
  • Seven (7) properties fall within the $700,000 – $800,000.
  • One (1) property is priced between $800,000 – $900,000.
  • Three (3) properties are in the $900,000 – $1,000,000
  • Seven (7) properties are listed between $1 million – $2 million.
  • One (1) property is listed for over $2 million.

The low inventory at entry-level, higher interest rates, and homeowner insurance costs make it difficult for many first-time Buyers.

Average Closed Sales Data:

  • Average closed sales price:  $698,545
  • Average Sq Ft:  1,629 sq ft
  • Average Price per Sq Ft:  $442.17

The Leonard Real Estate Group

 

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