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Showing posts from December, 2010

Coral Gables Receives Community Award from Magazine

The City of Coral Gables was selected by American City & County magazine as one of six 2010 America's Crown Community recipients. Other winners included Downers Grove, Illinois; Pinellas County, Florida; Round Lake Beach, Illinois; Hollywood, Florida and Sandy Springs, Georgia. Recipients of the annual awards are selected by the editors of American City & County based on nominations submitted by the magazine's audience, city and county leaders, and associations. Read more.

A Strong Rebound in Home Sales

Pending home sales increased by 10.4% in October 2010, showing a positive trend, according to the National Association of Realtors. The Pending Home Sales Index (PHSI) rose to 89.3 based on the number of contracts signed in October from 80.9 in September. The data reflects sale contracts and not closings, which normally occur with a lag time of one or two months. In a Florida Realtor article, the National Assoc. of Realtors’ chief economist said outstanding housing affordability conditions drew in more homebuyers. The market is showing signs of recovery.

Current Coral Gables Condo Sales Yield Positive Signs

• Condo inventory in the Gables from October 2009 to October 2010 has fallen by approx. 14%.

• The # of units under contract is down by about 10%, however from August to October 2010 this # is up by approx. 7%.

• Average price per sq.ft. is on an upward trend of approx. 5%.

• 42% of all residences for sale in the Gables are condos.