Hot Open Houses: 513 Navarre Ave. and 1418 Mantua Ave.

513 Navarre Ave. 2/1.5 $550,000

Some weekends you have no room left in your sign-in sheet, and that was the case on both of these homes. These new listings had a total of nearly 100 people come through to see them. Our opinion is that this is what happens when you price houses to sell. These two houses are both in great locations in Coral Gables, they have a lot of potential and in the case of Navarre it is move-in ready!

1418 Mantua Ave. 3/3 $750,000

Mantua has a big lot with over 10,000 sq ft and is in a great location near the University of Miami and downtown South Miami. A real oasis of a home! The open houses were so busy that we've also had a good number of calls for both homes for second showings, so wish us luck!

To learn more about the properties visit, www.slesnick.net and follow us on instagram for more pictures, @slesnickjochemrealty

Comments

Coral Gables Market Update

The Market in Coral Gables on the move... +As of August 2019 there were 383 single family homes on the market for sale. The average LIST price was $3,173,000 The average SOLD price was $1,208,000 The MEDIAN sold price was $901,000 +There are 122 homes out of 383 homes that are priced under $1,000,000, or 32% of the total +There are 261 homes priced over $1,000,000 in the Gables which is 68% of the Total. + Over the past year there were 446 homes sold in the Gables ( 241 were under $1.0M or 54%) and ( 205 were priced over $1,000,000 or 46%) +The average time a listing is on the market is 63 days. + The average price per square foot is up this year about 3.6%, May-July 2018 to May-July 2019. I think this is due to the sale of many homes that are updated and ready to go. They have been setting records.

Four times a year, Jeannett publishes " Jeannett's Journal" which is distributed directly to well over 18,000 residences in Coral Gables. The magazine encompasses Coral Gables news, Culture, and Business. We devote several pages to Real Estate and below you can find the most recent update on what is going on in the Gables, when it comes to selling single-family homes.. Click here to Jeannett's Journal.

As of the end of August 2022, in Coral Gables, the inventory of single-family homes has risen by 11% over the same time last year ( Aug 2021). However, the number of homes sold and the number of homes pended, have decreased by 26% and 24%, respectively. Why is this happening? For a long time now, we have been forecasting that the price/sqft has been on the rise, but prices have now overshadowed the norm and there is too much inventory that is simply overpriced.. In conclusion, prices need to come down in order to move that inventory. Since the Spring of 2022, when our Coral Gables inventory was at 48 homes, we have now more than tripled that number. However, our sales have been on the decline, month over month. More than about 63% of our present active inventory has been on the market for over four months. That is a very strong indication that these properties are overpriced and should be reduced at a faster rate. There are still many buyers out in the market looki...

S & J Journal

Search This Blog