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North Coral Gables Condos Market Report – July 2013

ADDED ON August 22, 2013 0 COMMENTS

coral gables condo salesThis is a North Coral Gables condos market report for July 2013.

All real estate is local. While this market 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.

There are currently 98 condos available for sale in North Coral Gables (11 more than the end of June).

The median sales price in July in North Coral Gables was $254,900 ($326/sf) compared to the current median list price of $377,000 ($332/sf).

The North Coral Gables condos sold in July were the following:

  • 1014 Salzedo St #104 – Salzedo in the Gables – listed for $99,900 and sold at $94,000 in 25 days
  • 318 Majorca Ave #101 – Bella Majorca – listed for $139,750 and sold at $123,000 in 88 days
  • 119 Menores Ave #8 – Menores Condo – sold for $125,000
  • 700 Biltmore Way #916 – David William – listed for $129,000 and sold at $125,000 in 23 days
  • 29 Santillane Ave #10 – 29 Santillane Ave Condo – listed for $120,000 and sold at $125,000 in 294 days as a short sale
  • 115 Mendoza Ave #202 – Mendoza Village – listed for $230,000 and sold at $154,900 in 385 days as a short sale
  • 50 Menores Ave #607 – Douglas Grand – listed for $195,000 and sold at $185,000 in 17 days
  • 1805 Ponce de Leon Bl #518  - The Ponce Tower – listed for $235,900 and sold at $218,900 in 11 days
  • 888 Douglas Rd #1013 – Puerta de Palmas – listed for $229,000 and sold at $225,000 in 9 days
  • 1805 Ponce de Leon Bl #728 – The Ponce Tower – sold for $231,900
  • 888 Douglas Rd #1413 – Puerta de Palmas – listed for $239,900 and sold at $240,000 in 15 days
  • 1805 Ponce de Leon Bl #623 – The Ponce Tower – sold for $253,900
  • 1805 Ponce de Leon Bl #521 – The Ponce Tower – sold for $255,900
  • 1805 Ponce de Leon Bl #716 – The Ponce Tower – listed for $315,900 and sold at $296,500 in 69 days
  • 357 Almeria Ave #1404 – Gables Park Tower – listed for $339,000 and sold at $330,000 in 70 days
  • 1805 Ponce de Leon Bl #717 – The Ponce Tower – sold for $345,000
  • 10 Aragon Ave #707 – Ten Aragon – sold for $365,000
  • 1805 Ponce de Leon Bl #619 – The Ponce Tower – sold for $382,500
  • 888 Douglas Rd #304 – Puerta de Palmas – listed for $380,000 and sold at $385,000 in 3 days
  • 1805 Ponce de Leon Bl #720 – The Ponce Tower – sold for $395,000
  • 2030 Douglas Rd #511 – The Minorca – listed for $421,900 and sold at $398,000 in 66 days
  • 55 Merrick Way #854 – 55 Merrick – sold for $523,000
  • 1300 Ponce de Leon Blvd #612 – sold for $562,100
  • 1805 Ponce de Leon Bl #800 – The Ponce Tower – listed for $629,900 and sold for $581,900 in 17 days

Although the market for condos in Coral Gables continues to be a seller’s market, there are early indications (slight uptick in inventory, decrease in closed sales) that the market pendulum may slowly start to swing towards the middle. Summer vacation is over, school has started, and interest rates are rising. Expect demand for condominiums to cool some as does the local weather.

Thinking about selling your Coral Gables condo? Find out how much your condo is worth. 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.

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*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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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.