S & J Journal

Now is the time to put your home on the market right after the first of the year, especially here in Coral Gables. A   Florida Realtors   article shows that pending sales are slowing down. The Pending Home Sales Index indicates a projection of almost 10 % higher home sales in 2014, and an 11% increase in existing home prices. Read the article.

In Coral Gables, home sales slowed down slightly in the last few months, while i nventory climbed in September after a steady four-year downward clip from 650 homes on the MLX in 2009 to 260 homes in May of 2013. Now we are up to 273 single-family homes for sale but this has just inched up since June.    Although   Florida Realtors  reported that U.S. home prices are rising but at a slower pace than months before, we see the same thing in the Gables.   We do not foresee prices dropping. They have only fallen once (in 2007-2008) since I started selling real estate in the early 1970's. What we do predict is that buyers will begin to be more particular and not rush so much to get into a bidding war where multiple offers come in the first week on well-priced new listings.  The number of days listings are on the market will increase a bit.  We are going to be shifting from a very strong seller's market to a less st...