The real estate search engine Trulia says it is now on
average 45% less expensive to buy than to rent a home. Trulia
conducted a study called the Summer 2012 Rent vs. Buy Report in 100 American
cities. While the buy-versus-rent savings varied greatly among the cities,
buying was the best choice in all 100 markets. To conduct the study, Trulia looked at the homes for sale and rent on its own
site between June 1 and Aug. 31, 2012. One Florida metro area made
the top five list for home buying affordability. According to Trulia, the
monthly cost of homeownership in Lakeland-Winter Haven is $495, while the cost of renting is
$1,276 – a 61% ($781) savings for those who choose to buy rather than
rent.
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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