With the real estate crash, builders have not been building new homes like they did in years past. As such, we are finding fewer and fewer new construction homes on the market these days. There are 21 houses in the Grove listed right now that were built in 2004 or later, 31 in Coral Gables and 32 in Pinecrest. This is about 50% less than what was on the market two years ago! Those that are on the market are generally selling faster and higher than they have in the past, because they are in higher demand. I am actually surprised to see how much higher they are selling, too! Many of today’s buyers favor homes that are completely updated and turn-key ready, which these new construction homes offer. With an average of 3 new construction homes selling per month, it won’t be long before this inventory is depleted. It’s time to get building again!
Interested in real estate in Miami? My areas of specialty are Coral Gables, Coconut Grove, Pinecrest, Ponce-Davis, South Miami and waterfront properties. Feel free to call or email me today. Let me and my team help you in your search!