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.
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.
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