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Market Update - Coral Gables

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Market Update / Week 2 November 2015

Non-gated Communities

There are 114 properties listed for sale at or above $1 M in Coral Gables, excluding those in gated communities. During the 2nd & 3rd quarters of this year, 79 houses that were listed above $1 M were sold. This equates to an 8.7-month supply of houses for sale based on trailing 6-month absorption. Anything less than 6 months is considered to be a “seller’s market”, and over 9 months, a “buyer’s market”. The market is in transition now with slightly increasing levels of inventory throughout 2015 and much more modest price increases than what we had in 2011 - 2014. Houses priced properly will sell, but the average house is taking longer to sell than it did at the start of the year.

I hope you find the breakdown of individual neighborhood statistics to be useful to see clearly what is happening in your neighborhood. Please call me for a private consultation to determine the value of your property in today’s market.

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.