We had the opportunity to sit down with Charlie Leonard and Sean Pascale of the Leonard Real Estate Group and go over the current state of the real estate market in Miami Springs.  According to the team, there have been several key factors that have caused the increase in prices we’ve seen after the initial hit from COVID:

  • Low Interest Rates
  • Working from home created a re-evaluation of what a home should be and the amenities required including a home office
  • Migration to South Florida from high income states like New York and California
  • Consistent migration to South Florida from other countries

COMPARING THE LAST THREE YEARS

COVID-19 hit us in March of 2020.  As you can see in the chart below, the average sale price of a Miami Springs home fell from $495,000 in March of 2020 to $391,000 in June of 2020.  That’s $100,000 drop in three months during the lockdowns.  However, three months later, the market rebounded and was back to $473,000.

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Data provided by The Leonard Real Estate Group…the top producing real estate team in Miami Springs.

2021 Miami Springs Home Prices

Last year the average home sold in Miami Springs was priced at $464,000 in January.  By December, that number had climbed to $565,000.  That’s a $100,000 increase in the average home price between January and December.  That’s a 22% jump in less than 12 months.

 

Data provided by The Leonard Real Estate Group…the top producing real estate team in Miami Springs.

2022 Miami Springs Home Prices

So far this year, the prices have continued to climb.  In January, the average Miami Springs home sold for $586,000.  Last month, the average Miami Springs home sold for $641,000.  That’s a 9% increase in just four months.

Data provided by The Leonard Real Estate Group…the top producing real estate team in Miami Springs.

2022 MIAMI SPRINGS HOME SALES

The Leonard Real Estate Group shared the following list of homes sold so far this year.

3 Homes over $1,000,000

Three homes have already sold in excess of one million dollars.  Not surprisingly, we see a home on Hunting Lodge topping this list.  However, there was a Ludlam home that sold for $1.275mm and a home on Raven that sold for $1.18 Million.

1031 Hunting Lodge Dr $1,350,000
2251 Ludlam Dr $1,275,000
650 Raven Ave $1,180,000

 

1 Home over $900,000

Not yet a million dollars, but the home at 557 De Leon Drive sold for $958,500.

3 Homes over $800,000

Three homes have sold in excess of $800,000 (and under $900,000) in Miami Springs so far this year.  They include:

461 Curtiss Pkwy $842,000
175 Chippewa St $835,000
549 La Villa Dr $835,000

11 Homes over $700,000

There were eleven homes that sold for over $700,000 in Miami Springs so far this year.  They include:

17 Lenape Dr $785,000
140 Pocatella St $769,000
920 Meadowlark Ave $750,000
1180 Thrush Ave $745,000
340 Payne Dr $745,000
861 Wren Av $735,000
617 South Dr $725,000
1160 Ibis Ave $710,000
1295 Thrush Ave $710,000
1011 Meadowlark Ave $700,000
209 Fern Way $700,000

 

19 Homes over $600,000

There were 19 homes that sold for over $600,000 in Miami Springs so far this year.  They include:

30 Bentley Dr $688,900
1240 N Oriole Ave $685,000
515 Lafayette Dr $685,000
157 Glendale Drive $685,000
1126 Dove Ave $678,000
620 Cardinal St $673,000
80 Whitethorn Dr $670,000
901 Apache St $670,000
372 Payne Dr $660,000
249 Duval Dr $660,000
369 Pinecrest Dr $655,000
1275 Bluebird Ave $650,000
565 South Dr $640,000
215 Lenape Dr $630,000
1505 Westward Dr $630,000
141 Pocatella St $625,000
271 Glendale Dr $620,800
1221 Falcon Ave $620,000
165 Whitethorn Dr $600,000

 

15 Homes over $500,000

There were 15 homes that sold for over $500,000 in Miami Springs so far this year.  They include:

270 Linwood Dr $599,000
550 Cardinal St $599,000
1271 Meadowlark Ave $595,000
441 De Soto Dr $590,000
560 Forrest Drive $589,000
516 La Villa Dr $585,000
580 Lee Dr $550,000
225 Corydon Dr $550,000
531 Forrest Dr $550,000
1543 Westward Dr $545,000
165 Lawn Way + Cottage $530,000
951 Plover Ave $530,000
1121 Falcon Ave $525,000
100 Truxton Dr $500,000
324 Palmetto Dr $500,000

 

7 Homes over $400,000

There were just 7 homes that sold for over $400,000 so far this year.

1101 Oakwood Dr $490,000
473 Falcon Ave $490,000
830 Nightingale Ave $470,000
419 Falcon Ave $460,000
480 S Royal Poinciana Blvd $460,000
270 Laurel Way $449,000
144 South Dr $425,000

 

2 Homes over $300,000

There were just 7 homes that sold for less then $400,000.  These small homes had less than 1,000 sq ft of living space.  They include:

181 Truxton Dr $350,000
117 Pine Ave $340,000

 

Full List of 2022 Home Sales

The following data was provided by The Leonard Real Estate Group.

Data provided by The Leonard Real Estate Group

Shop Homes for Sale in Miami Springs 

See a list of active homes for sale in Miami Springs.

Need to Sell Your Home?

The Leonard Real Estate Group is the number one real estate team serving Miami Springs and Virginia Gardens.  They also sell homes in Hialeah and greater Miami-Dade County.  If you’re thinking of selling your home, do it the right way.  Call the Leonard Real Estate Group at 305.726.8416 or visit their website at www.LeonardRealEstateGroup.com.

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Need Financing?

Now more than ever, it’s important that you lock in the lowest rate possible.  Let’s not sugar coat it.  If you want to buy a home in Miami Springs you’re going to need proof of good income and a solid credit background.  And you’re going to need a solid down payment.  If you’ve got the income.  You’ve got a clean credit history.  And you have your down payment ready, then all you need is a great low rate with favorable terms.  Let the fine folks at the Firenze Group connect you with the lowest rate possible. This will save you tons of cash over the life of your loan.  Furthermore, they are a boutique lender.  Your loan is the most important loan for this team.  Call the Firenze Group today at 305.882.0933.

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