http://gablesmavens.com

North Coral Gables Condos Pending Sales Report – February 2013

ADDED ON March 21, 2013 0 COMMENTS

ponce tower coral gablesThis is a pending sales report for condos in North Coral Gables for the month of February 2013.

All real estate is local. While this pending sales report is specific to condos 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 condo units 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.

Pending sales also help sellers determine what price points are attracting buyers. They do nothing to tell you what price the seller and buyer actually agreed upon, but they do help indicate what direction the local real estate market is moving in.

Sixteen (16) condo units went pending sale (under contract) in North Coral Gables in February.

Demand increased by 6 units in a month-over-month comparison (10 condo units went under contract in January).

coral gables condos under contract

Click here for absorption rates and inventory levels for condos in North Coral Gables.

Demand for condos in North Coral Gables decreased by 2 units in February in the year-over-year comparison.

The lack of condo supply priced to sell has a lot to do with why there aren’t more condo units going under contract. Condo units that are in good shape and price right are going under contract…fast.

coral gables condos under contract february

The average list price of all the condos that went under contract in February was $325,888 ($293/SF). The median list price was $240,000 ($225/SF).

coral gables condos under contract

Click on the image above to see a larger version.

All real estate is local. Don’t make important decisions like selling your Coral Gables condo without knowing your numbers.

Need information on Coral Gables real estate market conditions?

Wanna know how much your Coral Gables condo is worth?

Is it a good time to sell? Is it a good time to buy? Call us today at 305-491-7179 for a free consultation. There are never any strings attached. Just good information and great conversation.

If you enjoyed this article, get email updates (it’s free).

*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.

Other things you can do...

Search Homes
Email Updates
RSS Feed

Leave a Reply

The data relating to real estate for sale on this web site comes in part from the Miami Association of Realtors Regional MLS and is provided here for consumers personal, non-commercial use, It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real Estate listings held by brokerage firms other than the office owning this web site are marked. Data provided is deemed reliable but not guaranteed.

This IDX solution is (c) Diverse Solutions 2014.