Luxury Miami Real Estate

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550 South Dixie Highway

Coral Gables, FL 33146

Cell: 305-798-8685

Office: 305-960-5330

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$1-2 Million Market in Coral Gables

I am going to start providing weekly analysis again on the market in Coral Gables. We have a great tool called Facts and Trends, which allows us to input parameters and see the results in a number of different charts.

The first market I am looking at are the Coral Gables single family homes priced between $1,000,000-$2,000,000. This market has been fairly strong, but you can see from the chart below that the inventory has fluctuated in the past year and is at its highest right now. Our inventory has increased since the same quarter last year by 4%. Sold homes in this quarter versus the same last year are down 24% and pending homes are down by 36%.

Interestingly, the price per square foot shows a slight uptick from $408 to $423, yet the months of inventory based on closed sales sits somewhere from 11-15 months. People will tell you a balanced market is a 6 month’s supply. This information affirms that it is, in fact, a buyer’s market.

The charts do not give us the whole picture, but shows the trends. The fact is, there are buyers out there and they are making offers. Often the sellers expect a little more than what the buyer is willing to offer. I am not saying that a seller in this market needs to consider a low ball offer, but we do need to differentiate in a realistic offer and one that is too low. I would venture to say this is what has slowed our market down and lowered our pending and sold numbers.

If you are selling in this market, really take the time to evaluate what other homes in your market have sold for before just responding that you would never consider the offer before you.

Please feel free to contact me if you are looking to buy or sell or just want advice on what is happening in this ever-changing market.

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, or visit my website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. Senior Vice President, EWM Realty International.

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