Wednesdays, my office hosts in-depth sales meetings. They are always insightful and necessary.
Today, Ron Shuffield, the president of EWM International shared many statistical trends regarding our market. The lead story continues to be the decreasing inventory which is increasing property value appreciation. He also emphasized that months of inventory are down below normal healthy market levels (which should be between 6-12 months supply).
We are down to about 4 months supply. Many in the industry feel that when inventory is within 6-12 months, the market is defined as stable. When inventory levels fall below 6 months, sellers have more control over list price typically resulting in increased housing prices, creating more of a seller’s market.
While this is unfolding, you might find it interesting to view a snapshot over the last ten years of Coral Gables $300,000-999,000 real estate market. It looks a bit like a roller coaster, right? It feels like a roller coaster sometimes too…