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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.

Having lived in Miami for over 30 years, and as a licensed Realtor since 2000, I know and understand neighborhoods – the lifestyles they offer and the nuances that determine property value. As one of the Top 10 Realtors at ONE Sotheby’s Int’l. Realty company-wide, my success is directly linked to the results I consistently achieve for my clients.

My business has been built on cultivating long-term relationships. Please let me know if I can be of assistance to you and your family, whether renting, buying or selling.

You can reach me directly at 305-793-4783 or Ben@BenMossGroup.com.