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Real Estate Market Update: Inventory Drops Again in Coral Gables

On the MLX, there are only 250 homes for sale in Coral Gables and just 97 of these are under $1M.
Nationally...
• The median single-family home price as of June is $190,100, according to the National Association of Realtors. The high was $230,900 in July 2006.
• The average 30-year fixed-rate mortgage rate is 3.59%, according to Freddie Mac, slightly above the all-time low of 3.49% last month.
• The average cost to close on a mortgage fell 7% over the past year, according to Bankrate.com.

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