The table below shows the current status of the Miami Springs / Virginia Gardens real estate market as of September 27, 2024. All closed sales are within the last 90 days and all data per MLS.
Our Notes: Slight increase in showing requests, but days on market remain high. Average price has dropped from a high of $800,000 to a low of $735,000 in the last 4 months. Some buyers may be waiting for additional rate cuts.
Inventory around 35+/- listings. Currently thirty-two (32) active listings; 40% are listed for over a $1,000,000.00!
Eighteen (18) of the active listings have had a price reduction; six (6) this week. There are three (3) new pending sales this week. We have been transitioning to a more neutral market.
Mortgage interest rates have been lowered to just below 5.5%, lower rates expected.
The number of days properties are staying on the market is averaging 56 days.
- There are no properties listed under $500,000.
- There is one (1) listing priced between $500,000-$600,000;
- Six (6) listings are priced between $600,000-$700,000;
- Four (4) are priced between $700,000-$800,000;
- Four (4) are priced between $800,000-$900,000;
- Two (2) are priced between $900,000-$1,000,000;
- Fourteen (14) between $1-2 million
- One (1) priced for over $2 million.
