This is a real estate market update for single-family homes in the 33134 zip code of Coral Gables.

Conditions continue to favor sellers over buyers in the Coral Gables 33134 single-family homes market even as more homes become available compared to this time last year.

The 134 active listings at the end of September represented a 6% increase over September 2014. However, pending listings (homes under contract) had a jump as well, with the 21 pending listings in September 2015 indicating a 16% increase over September 2014. Actual sales of single-family homes also increased over the same period.

The Southeast Florida Multiple Listing Service (MLS) and CoreLogic Realist® report that in September 2015 a total of 34 single-family homes were sold in the 33134 zip code of Coral Gables. This represents a 54% increase over sales in September 2014.

Prices for single-family homes in the 33134 zip code of Coral Gables continued to climb during that year-long period. The median price of a single-family home increased 3.7% between September 2014 and September 2015 to $632,500. Average single-family home prices rose 5.5% during that period to $793,350. Meanwhile, the dollar volume of sales increased a whopping 94%. In total, $31,330,900 worth of single-family homes sold in September 2015.

Homes sold spent an average of 97 days on the market, which is 47% more than September 2014. Generally high prices and limited availability in certain price segments make the Coral Gables 33134 single-family home market a favorable environment for sellers.

Absorption Rates for Coral Gables Single Family Homes

First-time home buyers shopping for entry-level homes find themselves at a disadvantage in the current environment, while move-up buyers in the $1,000,000+ price range are finding more choices.

The Gables Mavens team with DASH - A Real Estate Company provides expert real estate services to buyers and sellers in Coral Gables and the surrounding communities. Contact us today for more information on Coral Gables real estate and for professional assistance navigating this sometimes complex home market.