Miami Springs, FL Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

What is the hottest real estate market in Florida? ›

Floridian cities constituted 3 of the Top 5 Real Estate Markets to Watch in 2024—namely, Sarasota, Fort Myers, and Orlando. Jacksonville, Miami, and Tampa also ranked highly in the index by Insurify.

Best Time to Sell Your House for a Higher Price

April, May, and June are the best months to sell your house in Florida. The median sale price of houses in June 2023 was $409,600, which is expected to rise in 2024. However, cities like Doral and Palm Breach Gardens follow an upward trend throughout the year.

Florida home sale prices peak in late spring before dipping again in late summer and early fall. If you are looking for a deal on a house, your best bet might be to look for a home around November or December. However, it may be more challenging to find a home during these months.

Even as Florida remains among the most overpriced housing markets in the country after the boom experienced during the COVID-19 pandemic, especially in cities like Cape Coral and Miami, a recent surge in inventory has allowed buyers to push prices down in parts of the state.

The Ramsey Solutions research shows that housing prices in Florida have gone up, especially when comparing the fourth quarters of 2022 and 2023, respectively. At the end of 2022, the median sales price of a Florida home was $401,990. One year later, it was $410,000 — a 2% increase.

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

The worst time to sell a house is typically during the winter months, particularly in December, January, and February. During this period, bad weather can deter potential buyers from attending open houses, and many people are preoccupied with holiday activities and planning.

Best Time to Sell Your House for a Higher Price

April, June, and July are the best months to sell your house in California. The median sale price of houses in June 2023, was $796,400, which is expected to grow more in 2024. However, cities like Arcadia and San Mateo follow an upward trend throughout the year.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

As per Fannie Mae, mortgage rates may drop more in Q2 of 2024 due to economic changes, inflation, and central bank policy adjustments. Even though it's a seller's market, increased housing supply and reduced mortgage rates may result in lower prices for buyers.

Is it a buyers or sellers market in Florida? ›

Is it a buyer's or seller's market in Florida? It is considered a seller's market right now. Housing inventory is up since last year, which means supply is less constrained. Mortgage rates are 6.4%, making the average house payment $2,615, which is $240 lower than a year before.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

Cape Coral on the state's Gulf Coast was listed as the most overpriced Florida area, ranked third at 38.9%. Other Florida cities on the Top 100 list: Tampa (4th most overvalued), Palm Bay (7th), Lakeland (8th), Orlando (9th), North Port (12th), Deltona (13th) and Jacksonville (25th).

Closing costs in Florida may be higher compared to other states due to factors such as higher property values, higher insurance costs, and higher taxes.

The most overvalued markets to rent a home are led by MSAs in Hawaii, California, New York, South Carolina and Florida. You'll pay the most to buy a median-priced home versus renting in the San Francisco Bay Area and on the Hawaiian island of Maui as well as elsewhere in California, Washington, Utah and Oregon.

Jacksonville represents an undervalued powerhouse within the Florida real estate market. It offers a unique combination of urban and coastal lifestyles, diverse employment prospects, and a housing market that remains relatively affordable, presenting a prime opportunity for investment.

Spring: The real estate market competition is high but open to lower asking prices. Home demand usually rises in March, April, and May. Summer: Summer is the peak season with an active housing market and competitive buyers. Moreover, you have a larger inventory to choose from in June, July, and August.