On March 7th, 2011, I blogged about the non-distressed market in Coral Gables between $500,000 – $1million. Today I wanted to see how it has changed since then, and I’m amazed at the improvements we have seen! What a comeback this market has made! Back then, there were 103 houses on the market and the average selling price per square foot was $235. Today there are only 70 on the market and our average is $267/sq ft. That’s a 14% price increase in only 17 months! You probably remember me saying that 6-12 months of inventory is considered a “healthy” market. Back then, we had 11 months of inventory, which was considered stable. Today, we only have a 4.9 month supply! We averaged 8 sales per month in early 2011, and today it’s at 21 per month – almost triple the number of sales! Realtors are definitely feeling this change, and it’s nice to see the statistics proving it!