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Coral Gables Deep Dive: Q2 & Q3 2016 Recap

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1532 Catalonia Avenue, Coral Gables, FL

As of the end of the 3rd Quarter, there are 232 properties for sale listed above $1,000,000. This is up from 114 properties at the same time last year, an increase of 103%. During the 2nd and 3rd Quarters, a total of 124 houses that were listed above $1,000,000 sold. This equates to an 11.2-month supply of houses for sale based upon trailing 6-month absorption. At this same time, last year, there was an 8.7-month supply. Anything less than 6 months is a “seller’s market” and anything over 9 months is a “buyer’s market”. In 2016, we have made the transition into a buyer’s market. While prices are still up year over year, the farther we move into a buyer’s market, the more pressure that will place on pricing. Coral Gables remains one of the healthiest luxury markets in South Florida, with many other markets showing well over a one-year supply of housing inventory. Houses priced properly will sell, but the average house will take longer to sell today than it would have at the start of the year.

I hope you find the breakdown of individual neighborhood sales and statistics on the cover to be useful. Please call me for a private, no-strings attached, consultation to determine the value of your property.

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.

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

Ben specializes in South Florida luxury real estate in the cities and neighborhoods of Coral Gables, South Miami, Pinecrest, Coconut Grove, Miami Beach, South Beach, and Key Biscayne. His track record of success includes significant sales and record breaking transactions in Miami-Dade and Broward County. As a thought leader in South Florida luxury real estate, Ben is regularly featured in local media sharing insights from his comprehensive real estate market reports. Ben also runs the Sports & Entertainment division for ONE Sotheby’s International Realty, having represented hundreds of athletes and entertainers with their real estate needs nationwide. Experience the power of passion aligning with data centered knowledge - reach out to Ben about your upcoming real estate transaction.