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.

Comments

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November 4, 2020 at 11:07:00 PM EST

SOUTHCOM Change of Command Presided over by Defense Secretary Panetta and Veteran's Day Ceremony at Jungle Island

General Douglas Fraser, U.S. Southern Command, giving the keynote address at the Jungle Island Veteran's Day event. U.S. Secretary of Defense Leon Panetta, Chairman of the Joint Chiefs of Staff Army General Martin Dempsey, incoming SOUTHCOM Commander Gen. John Kelly and outgoing SOUTHCOM Commander Gen. Douglas Fraser at Change of Command Ceremony on November 19, 2012 . General Douglas Fraser of the Southern Command is retiring after nearly 40 years of service to the United States Air Force. At a Veteran's Day celebration held at Jungle Island in Miami, the General was recognized along with other veterans for their outstanding dedication to protecting our country. Last week, Gen. Fraser was also honored by United States Secretary of Defense Leon E. Panetta, who commended his accomplishments in leading SOUTHCOM. Secretary Panetta described the General's notable efforts to provide humanitarian assistance and disaster reli

Peter Dolara of American Airlines Honored at the Biltmore

Business and civic leaders from around Miami and South Florida joined last week at the Biltmore Hotel to honor Peter Dolara for his service to the South Florida community as Vice President of American Airlines. M r. Dolara, who joined the airline in 1963, will retire handing over the Vice President post to Art Torno. American Airlines has about 9,000 employees in South Florida and more than 300 flights a day, up from just 18 flights in 1989 when Mr. Dolara took the helm. Pictured: Art Torno, Miami International Airport Director Jose Abreu (receiving Eagle Award) and Peter Dolara.

Single Family Home Prices Up

Thought you would find this interesting. Single family home prices in Coral Gables have been rising since inventory started dropping in 2009 when we had 650 homes for sale on the MLX. It is a case of supply and demand and the supply is definitely dropping in all price ranges but especially in the $2M and under range. What bodes well for South Florida real estate bodes well for the rest of our economy and should help all businesses soon as well as our non-profits. There are also going to be a large amount of closings coming up in December as we have seen tremendous traffic the last three months.

S & J Journal

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