Real Estate, Community News & More from My Desk to Yours

Thursday, November 21, 2013

Homes Selling at a Slower Pace

In Coral Gables, home sales slowed down slightly in the last few months, while inventory climbed in September after a steady four-year downward clip from 650 homes on the MLX in 2009 to 260 homes in May of 2013. Now we are up to 273 single-family homes for sale but this has just inched up since June. 
Although Florida Realtors reported that U.S. home prices are rising but at a slower pace than months before, we see the same thing in the Gables.   We do not foresee prices dropping. They have only fallen once (in 2007-2008) since I started selling real estate in the early 1970's. What we do predict is that buyers will begin to be more particular and not rush so much to get into a bidding war where multiple offers come in the first week on well-priced new listings.  The number of days listings are on the market will increase a bit.  We are going to be shifting from a very strong seller's market to a less strong seller's market or to a fair market for the next year or so.  

Now is the best time to sell. Call us and we will run a free market analysis. We make staging recommendations so your home is in tip-top showing condition and listed at the correct price in order to attract the maximum number of buyers in the first two weeks it is on the market.  

Tuesday, November 12, 2013

Condo Real Estate Market Update

See below for recent real estate market conditions for the 33133 and 33134 zip codes, which include Coconut Grove and Coral Gables, from September 2012-September 2013.