The table below shows the current status of the Miami Springs/VG real estate market as of Friday, April 15, 2022. All closed sales are within the last 90 days and all data per MLS records.
During the period of April 8, 2022 through April 15, 2022, there were reported 3 new listings, 6 closed sales, 2 pending sales, 1 active with contract, 0 expired listings, 1 cancelled listing, 1 Temp off market, 0 price reductions, and 1 price increase.
There are only 7 active listings in the MS/VG market this week. THIS IS THE LOWEST INVENTORY IN HISTORY! It has averaged under 15 listings the last several months, which makes for a very tight market for Buyers. Values remain very, very strong in Miami Springs and Virginia Gardens. There are still many qualified Buyers out there! It is still a Sellers’ market.
All seven (7) listings are priced over $500,000. Two (2) properties are listed over $1,000,000. One (1) active listing has had a price reduction (0 this week). We remain in a very strong Sellers’ market with high demand. More interest rate increases are coming in 2022. We anticipate that inventory will start to increase later this year.