Pending home sales increased by 10.4% in October 2010, showing a positive trend, according to the National Association of Realtors. The Pending Home Sales Index (PHSI) rose to 89.3 based on the number of contracts signed in October from 80.9 in September. The data reflects sale contracts and not closings, which normally occur with a lag time of one or two months. In a Florida Realtor article, the National Assoc. of Realtors’ chief economist said outstanding housing affordability conditions drew in more homebuyers. The market is showing signs of recovery.
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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