As you might expect, the lower price range has less supply than the more expensive homes at 6 months supply. Even this market, however, has experienced a 41% increase in inventory since this same time last year. The good news is there has also been a 31% increase in sales in this market.
The $600,000-$800,000 market is carrying its same supply as last year with 7 months, but has seen an 8% decrease in sales. This represents 12% of the overall inventory and 26% of the sales.
And finally, the $800,000-$1,000,000 market has seen inventory grow from 5 months supply to 8 months with a 26% reduction in sales. This range represents 11% of inventory and 19% of sales in Coral Gables.
As the price of the homes increases, we have continued to see inventory also increasing and sales decreasing. This information helps show how important it is to price correctly in this market. The under $1,000,000 market represents 64% of all sales in Coral Gables.
Please don’t hesitate to call or e-mail me if you have any questions about this information or any other real estate needs.
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.
