Buying or selling a home in Coral Gables this summer?
Real estate is a hyper-local phenomenon.
Having a clear understanding of the latest Coral Gables market trends 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 Coral Gables market reports break down the most important information at a city and zip code level, so you know exactly how YOUR market is doing.
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 Coral Gables by price bands and demonstrates how the different price segments of the Coral Gables single-family homes market have performed 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 Coral Gables is currently a Normal Buyer's Market with 8.6 months of inventory.
That means that, generally-speaking, buyers have more negotiating leverage than sellers at this time.
Homes between $600,000 - $1M are showing the greatest demand, accounting for 40% of all home sales in Coral Gables in the last 6 months.
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 in the 33134 zip code of Coral Gables.
This easy-to-understand real estate market report breaks down the most important information in the 33146 zip code of Coral Gables.
This easy-to-understand real estate market report breaks down the most important information in the 33133, 33143, 33156, and 33158 zip codes of Coral Gables.