Coral Gables Quarterly Market Report

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Coral Gables Market Report – Q3 2016

This quarterly report provides a brief analysis of the current state of the Coral Gables single-family home real estate market. For more information, feel free to contact our team. Knowledge is power!

 

Market Highlights 

  • Median and average home prices increase year over year by 8.7% and 6.5%, respectively.
  • The pace of sales decreases by 13.2%, as inventory expands by 23%.
  • Shift to a strong Buyer’s Market as Months of Inventory increases in all price points over $600,000 +.

 

Median Prices, Coral Gables Single-family homes, Past 6 years

TGChartImage (2)

Inventory Levels by Price Point

Below are 4 graphs comparing the number of homes For Sale (green), Sold (blue) and Pending (red line) in Coral Gables in the past 3 years.

As we compare this data side-by-side, it becomes evident that inventory under $600k is decreasing, while all other price points are experencing a spike in inventory, most notably in the past 6 months (since start of 2016). With the pace of sales stagnating, we have entered a strong Buyer’s Market.

 

 In today’s market Buyers have more bargaining power than in years past. It is crucial to work with a Realtor that understands the local market nuances, and can negotiate the best possible price.

For more information regarding our current market, feel free to contact Alex at 786-301-5357, or by email at AlexLarmier@mymiamiexperts.com

Alex Larmier
Alex Larmier
Expert guidance with a personal touch.

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