What Is the Current Market Climate in Miami?

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Let’s discuss the current climate of the housing market. The Miami real estate market is currently tilted in favor of sellers. There is less property available for sale and more buyers looking. Because of this, properties face pressure. Properties have been going up less than 1% per month on average. However, we have a few points for you to keep in mind.

Don’t expect to get rich quickly based on the high demand. Chances are you won’t make 30,000 or even 5,000 dollars profit in six months unless you property is valued in the millions.

Sellers must refrain from overpricing their property. You won’t be able to sell if your listing is overpriced, even in a hot market like it is now.

30-year mortgage rates are increasing. The mortgage rate has gone up to an average of 3.89%. A little while ago, it was at 3.79%. Because of increasing rates, buyers might be put off.

Sellers can get a very good price by targeting and pricing correctly within your range. The right price is key!

Speak with a Realtor that can do an inspection for a reasonable estimate. This Realtor should either know your area or be able to study it to conduct a physical inspection of your home. An aggressive, reliable Realtor should get a firm idea of what your price is to help you.

Buyers should speaker with a Realtor, look at your price range, and make a good offer. Don’t waste time chasing the wind. Time is money. Use a Realtor as a guide to show you three to five properties within your price range. Make a firm offer and move forward. That’s my advice to you.

This has been a great opportunity to talk about the real estate market. If you have any questions, please give me a call at 305-807-0884 or send me an email at dan@dcardona.com. I look forward to hearing from you!