North Coral Gables Single-Family Homes Pending Sales Report – June 2012

This is a pending sales report for single-family homes in North Coral Gables for the month of June 2012.

All real estate is local. While this pending sales report is specific to single-family homes in North Coral Gables, there are neighboring communities with different levels of inventory and market characteristics.

Feel free to contact me if you’re interested in learning more about the market characteristics in the surrounding communities.

Pending sales, or the number of single-family homes that go under contract, are a key indicator of demand. They approximate the number of sales that will take place over the next 30 to 45 days.

Twenty (20) single-family homes went pending sale (under contract) in North Coral Gables in June.

Demand decreased by 6 units in a month-over-month comparison (26 single-family homes went under contract in May).

Demand decreased by just 1 single-family home in the year-over-year comparison.

The average list price of all the homes that went under contract in June was $702,625 ($313/SF). The median list price was $512,000 ($284/SF).

Three (3) of the 20 homes that went under contract in June were listed above the $1 million mark.

It’s important to note that although demand is statistically down (albeit, by 1 home) when compared to June 2011, the supply of single-family homes available for sale in North Coral Gables a year ago was much higher.

For more information regarding absorption rates and inventory levels for single-family homes in North Coral Gables click here.

Know your numbers. If you need guidance buying or selling your Coral Gables home, call me today at 305-491-7179 or send me a note to adrian@gablesmavens.com. I will be more than glad to offer advice and guidance on current market conditions.

*All information was obtained from the Southeast Florida Multiple Listing Service. Information is deemed reliable, but not guaranteed and is subject to change. Check the date on this report for relevance. If you have questions regarding your home or your particular neighborhood, feel free to contact us for a discreet and accurate opinion. Real estate consumers that read this website are urged to seek independent, legal, real estate and financial advice before engaging in a real estate transaction.

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