Home Prices to Rise 5-7%

According to NAR, Realtors in Florida expect prices to rise 5-7% in the next 12 months.

In an article on floridarealtors.org, they said "Florida is one of four states where practitioners predict the biggest increases – 5 to 7 percent – along with California, Alaska and Hawaii. Tight inventories have helped to lift home values in these areas, according to the [ Realtors Confidence Index monthly] survey." Read more . . .

That's good news for Sellers! If you want to sell your home at the best possible price, give us a call: Jeannett Slesnick 305-975-8158 or Ginger Jochem 305-494-6422. We know home values. Or, if you're buying, we can also guide you to get the best value for your money.

We specialize in Coral Gables, Coconut Grove, Pinecrest, and surrounding areas. With over 40 years combined experience, Ginger and I can find you that perfect home you're looking for, like this 3-story modern beauty near the water in Coconut Grove . . .

3520 Crystal View Court

http://www.

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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.

Current Market Conditions in the Gables

Over the past several months, the number of homes on the market for sale, in the Gables, has been decreasing, ever so slightly. Since May of 2019, the number of homes for sale has decreased by 8%. Even though, for that same period, the number of homes sold is down by 13%, the number of homes going under contract is beginning to rise by 2%. This could be a positive thing. For all those homes in the Gables, priced under $1M, there is a slight bit of positive information, as well. The total number of homes on the market has been decreasing by about 10% over the past three months. Comparing the July 2019 numbers with July 2018, the number of homes sold is up by 15% and the number of homes going under contract is up by 38%. The same thing holds true for all those homes priced over $1.0M. Inventory has been coming down slightly, over the past three months. The number of homes sold is down by 12%, but the number of homes going under contract is up by 14% In conclu...

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.

S & J Journal

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