S & J Journal

Looking back four years provides an interesting overview on the inventory drop in Coral Gables. See our latest Miami Herald ad showing these statistics. Come see our new listing at 630 Majorca, Coral Gables , this Sunday from 1 to 3 p.m.

We have been touting the same information for the past 12 months : Inventory is down to the lowest levels we’ve seen in 6 years. And...in Coral Gables, prices are creeping up for homes listed under $1M. The total number of homes for sale under $1M has dropped to about 39% of the C.G. inventory. Lately, the average list price has equaled the average sales price. In fact, the last 5 homes that Slesnick & Jochem sold between $475,000 and $775,000 went under contract within a week and sold for asking price or up to 7% over asking. None of these were short sales or foreclosures. We typically get multiple offers because our properties are fairly priced. Read the Miami Herald article.

Demand is up, inventory is low and prices are rising. That is what a Miami Herald article is saying today. In South Florida communities stretching from Homestead up to Weston, bidding wars are exploding and real estate inventory is quickly diminishing. Read more.