As a Senior Vice President at Berkshire Hathaway HomeServices EWM Realty, I know that our brokerage is incredible. Berkshire Hathaway is recognized as #4 in the Fortune 500 and #3 in the Fortune World’s Most Admired Companies list. In addition to these accolades, BHHS EWM Realty, a Berkshire Hathaway subsidiary, is also one of South Florida’s top-producing real estate companies. While selling billions of dollars worth of real estate is impressive, I think that one of the most powerful things that BHHS EWM does is publish our quarterly Insight report, which gives an in-depth analysis of the market. This piece came out recently, and it included truly eye-opening statistics about what is going on down here: we keep telling you the market is hot, but Insight proves that it is indeed on fire!
You can read the whole report here: https://www.ewminsight.com/
For this blog, I am focused on page 51, which looks at where the Coral Gables market is year over year. For single family homes under $2,000,000 in The City Beautiful, sales are up 69.8% and the median price of a closed sale is 9.2% higher in 2021 versus 2020, while the inventory and supply are down 67% and 80%, respectively. The number that really blows my mind is in the sales of homes over $2,000,000 – the number of closed sales is up by 210% year over year. You read that right, and I did not miss a decimal point, two hundred and ten percent! With that level of demand for these luxury properties in the Gables, of course inventory and supply are down, and the median price has increased by 6.4% from $2,750,000 to $2,925,000.
I can tell you that we are really feeling the lack of inventory. I have buyers looking at single family homes at all price points in Coral Gables and throughout Miami, and it seems like there is nothing out there. Whenever a home is listed, we are jumping on it to get our buyers in – and many are making offers sight unseen. People are still moving here in droves, and locals would also like to move. If you are thinking of selling, then call me so we can strike while this intense sellers’ market roars on!
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
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 BHHS EWM Realty 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!