Morning 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.
Seventeen (17) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. Six (6) active listings have had a price reduction (3 this week). We remain in a strong Sellers’ market with high demand. The market will change! Increased inventory is on the horizon, with increased foreclosures coming later this year.
MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!
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 is one (1) listing under $400,000–an unapproved short sale. This lack of inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Three (3) properties are priced between $400,000-$500,000; ten (10) properties are priced between $500,000-$700,000; one (1) properties are priced between $700,000-$800,000; and six (6) properties are priced between $800,000 and over $1 million.
A GREAT TIME TO BUY OR SELL!
During the period of August 27, 2021 through September 3, 2021, there were reported 0 new listings, 6 closed sales, 2 pending sales, 2 active with contract, 0 expired listings, 0 cancelled listings, 0 Temp off market, 3 price reductions and 0 price increases.
FEATURED MIAMI SPRINGS PROPERTIES