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Real Estate Market Stabilizing

The market is stable and improving (perhaps positively influenced by the recent first-time homebuyer credit). Sales of existing single-family homes in Florida rose 24% in the first quarter of 2010 compared to the previous year, according to the latest housing statistics from Florida Realtors®. This marks the sixth straight quarter of increased sales across the state in the single-family home market. In Coral Gables, there is a diminishing supply of inventory. Buyers should begin looking for homes before prices start to rise. Coral Gables’ sales on single-family homes rose comparatively by 56% from 2009 to 2010, more than double the rate of the state’s figures.

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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.
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