North Coral Gables Homes Sold Report – November 2012
This is a North Coral Gables single-family homes sold report for November 2012.
All real estate is local. While this market 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.
Year-to-Date Single-Family Homes Sold in North Coral Gables
Single-family home sales in North Coral Gables are up 11.6 % in the first 11 months of 2012. Two hundred thirty one (231) single-family homes sold between January and November of this year. That’s 24 more than the 207 single-family homes sold during the same time frame in 2011.
This, despite a historically low supply of homes available for sale in the North Coral Gables real estate market.
The line graph below shows the number of single-family homes sold in the first 11 months of 2011.
Single-Family Homes Sold in North Coral Gables (November 2012)
So after seeing that October was a huge month for single-family home sales in North Coral Gables, I expected sales to drop off in November as the weather cooled (to 80 degrees in the shade).
They did, but not much. November saw twenty four (24) North Coral Gables single-family homes close for an average sales price of $282/SF.
Four (4) sales in November broke the million dollar mark.
Seven (7) of the 24 homes sold in November were all-cash purchases. Fifteen (15) of the homes were purchased with a conventional loan. One (1) home was financed with a FHA loan and 1 other was financed with a VA loan.
Sold-to-List Price Differential
The sold-to-list price differential, also known as the sale-to-list ratio, is the final sales price (what a buyer pays for the home) divided by the list price (at the time of sale) expressed as a percentage.
The average sold-to-list price differential stood at 94.3% for November. Four (4) of the 24 homes sold for full asking price. Six others sold above asking price.
When using this information, it is important to note that the data above is derived from an aggregation of many homes and an individual sale may not have the same behavior as all the homes put together.
All real estate is local. Don’t make important decisions like selling your Coral Gables home without knowing your numbers.
Find out how much your home is worth. Call me today at 305-491-7179 or send me a note to email@example.com. I will be more than glad to offer advice and guidance on current market conditions.