As mentioned in last week’s issue of By The Numbers (did I just date myself, again?), decreasing inventory in Coral Gables and Coconut Grove is impacting median sales prices. They are creeping up. Additionally I’m finding that double digit “discounts” off of list prices are diminishing as well. I’ve included median sales price charts for Coral Gables and Coconut Grove comparing January 2012 to years past. Of course, keep in mind that any anomaly in property pricing can impact these numbers, a sale for $13 million or $25,000 – can skew the trend. However, it’s a quick snapshot to depict the increase in the median price – music to sellers’ ears.
These figures, the amount of activity I’m seeing at Open Houses– and most importantly, the amount of contracts my team and I preparing tell me that we are climbing out of the bottom.
If you’re considering buying or selling in Coconut Grove or Coral Gables, feel free to contact me and benefit from my Strength of Experience.
305.710.1010 | [email protected] | facebook.com/CaroleSmithMiami
Affiliated with EWM REALTY International | Christies International of Coral Gables