I have talked a lot recently about our improved real estate market in Miami and all of South Florida but haven’t been specific recently with statistics. Here is an update on non-waterfront homes in Coral Gables to show you what our market looks like.
At the end of November, there were 289 homes on the market, 59 closed sales that month and 43 pending sales. Inventory has remained steady for the past 2 years, but the average price/sqft has increased almost 20% from $286 in November 2011 to $342 now. Today homes are selling on average for 95% of the asking price, whereas they were selling at 90% of asking 2 years ago. The average days on market has also dropped substantially – from 97 days in 2011 to 58 days now.
We currently have 5 months of inventory, just shy of 6 months which is considered “healthy”. We are seeing more investors and cash buyers than ever, and hope to see even more improvements in 2014!
My focused dedication as a realtor in my home town of Miami for over 20 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.
As the #3 Realtor company-wide at EWM in 2012 with over $55 Million in sales, 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!