Coral Gables Absorption Rate

This blog focuses on the year to date sales of Coral Gables Real Estate, which is Data that is gathered from the MLS South Florida.

Twelve houses above $1,000,000 sold in October in Coral Gables. When set against a backdrop of 223 houses listed on the market for sale at or above that price range, there is an 18.6-month supply of inventory. Typically, a market in equilibrium is one that holds 6-9 months of supply, so right now we are clearly in a buyer’s market, one in which buyers hold more leverage over sellers. If we look at monthly absorption and supply in 2015 all but four months have placed us in solid buyer’s market territory. Two of the last three months demonstrate the largest housing supply based on monthly absorption, which is a general trend in the single-family housing market – one in which inventory is slowly being added to the market at a faster rate than homes are being sold. This in turn is hampering price growth and we are not likely to see in 2015 the 10%+ annual price gains that we saw between 2011 – 2014. However, this is healthy for the market as this is a cyclical industry and prices cannot rise unadulterated. Please see the graph below outlining monthly absorption rates for 2015.

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