Buying or selling a home in the 33134 zip code of Coral Gables this summer?
Real estate is a hyper-local phenomenon.
Having a clear understanding of the latest market trends in the 33134 zip code of Coral Gables equips you with the knowledge necessary to make informed decisions that keep you from overpaying for a home or having your home sit on the market indefinitely.
Our easy-to-understand market reports break down the most important information at a zip code level, so you know exactly how YOUR market is doing.
For market reports in other zip codes of Coral Gables click here.
Coral Gables (33134)
Single Family Homes
Is it a Buyer's Market
or a Seller's Market?
The Absorption Rate is the key indicator for knowing if it's a Buyer's Market or a Seller's Market.
The Absorption Rate is the amount of time it would take to sell all of the current listings at the current selling rate if no more homes were listed for sale.
It is calculated by dividing the average number of homes sold over the last six months by the total number of homes listed for sale at the end of the month.
The graph below breaks down the absorption rates for all single-family homes in the 33134 zip code of Coral Gables by price bands and demonstrates how the different price segments of the single-family homes market have performed in the 33134 zip code of Coral Gables over the last six months.
Typically, a Seller's Market has less than six months of supply, while more than six months indicates a Buyer's Market.
The market for single-family homes in the 33134 zip code of Coral Gables is currently a Normal Buyer's Market with 6.7 months of inventory.
That means that, generally-speaking, buyers have more negotiating leverage than sellers at this time.
A closer look at the individual price bands shows that the market for single-family homes below $1.2M is performing well. Generally-speaking, sellers have more negotiating leverage than buyers at this time for homes below $1.2M.
The market for single-family homes above $1.4M is an Extreme Buyer's Market. Generally-speaking, buyers have more negotiating leverage than sellers at this time.
A buyer who is aware that it's a Buyer's Market not only has more homes to choose from, she may also be in a position to offer less for a home or request additional items in her offer, such as seller concessions or repairs completed by the seller.
A seller who is aware that it's a Buyer's Market may price her home slightly below the recent comparable sales to avoid having her home sit on the market indefinitely and ultimately sell for less than what she could have sold for.
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This easy-to-understand real estate market report breaks down the most important information for single-family homes in all of Coral Gables.