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Spring 2012 Market Update
Prices are stabilizing in Coral Gables. The well priced and updated homes are selling within a reasonable time.
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| Average Home Price | $600,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 0-5% |
| Average Time on Market | 10-30 days |
| Best Selling Price Range | $550,000 - $599,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | Equal buyers and sellers |
| Buyer Activity for the past 90 days in Coral Gables is | Increasing |
| Seller Activity for the past 90 days in Coral Gables is? | Decreasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | great condition properties priced to sell could get multiple offers |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 0-5% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | condo financing remains an issue. Most condo sales are cash sales, due to many investors and very limited financing. |
| Housing Inventory | Limited Supply |
| Inventory Comments | The amount of short sales and foreclosures currently available is less than 5% of the market in Coral Gables. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | A great and stable community and competitive interest rates creates a perfect time to buy in Coral Gables! |
| Nearest Metro Area | Miami |
| Housing Hot Spots | Kendall is a real hotspot right now |
| Average Sold Price | $600,000 - View Graph Trend |
Coral Gables Local News
News for Coral Gables, FL - January 19th, 2012 11:56am
There are currently only 310 available single family home properties for sale in Coral Gabes. Only 1 is a foreclosure ad 10 are short sales. Over the last quarter of 2011, 71 sales were pending and 78 sales closed. As you can tell, th inventory is very low, so homes are selling briskly.
News for Coral Gables, FL - January 12th, 2011 2:24pm
There are currently 427 available properties for sale in Coral Gables. Of those, 37 are short sales (8.7%) and 15 are REO's (3.51%)(foreclosures). Over the last six months, 179 properties have sold, 21 of those short sales (11.73%) and 21 foreclosures (11.73%). The average days on the market was 158 days and the average time of supply is 14 months. This is averaged over all price ranges. Call me for specifics on the different price ranges since the luxury market has its own timetable!
News for Coral Gables, FL - November 11th, 2010 1:14pm
For the three months ending September 30, 2010, there are a total of 414 currently available listings, 81 pending sales and 69 sold and closed during that period in Coral Gables.
News for Coral Gables, FL - Wednesday May 5th, 2010 4:06pm
In 2008 we averaged 593 homes for sale in Coral Gables; in 2009 we had an average of 553. Currently through April 2010 we have 448. In Coconut Grove in 2008 we averaged 364 single family homes on the market for sale. In 2009 it had dropped to 232 and today it is 186. In Pinecrest the 2008 survey shows 270 homes were active on the market, in 2009 it was 260 and currently there are 196. Palmetto Bay in 2008 had 252 homes for sale, In 2009 there were 156. Today there are 128. In South Miami in 2008 there were 100 homes for sale. 2009 showed 52 homes for sale, and currently there are 39. Putting these numbers in perspective, it shows we are stabilizing.
Contact Information
Linda Tartak ABR CIPS CRS GRI
305-962-5156
Request More Information Let me answer your questions!
Ask Me!
Mortgage Rates
– May 28th, 2012 –
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30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
StreetZip Code
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Request More Information Let me answer your questions! Ask Me!
Linda Tartak ABR CIPS CRS GRI
Coldwell Banker
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 305-962-5156
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