Here is a quick snap shot of MLS listings right now in Coral Gables, what’s been sold in the last three months, and what’s been sold between 3-6 months ago.
Compared to what has been sold in the last 6 months, current inventory is high.
Realtors have been spot on with their listing prices in the Gables, with most properties selling well within 10% of the asking price.
Though sales in the lower price range has been low, there is inventory. This may be an attractive area for investors to exploit as Coral Gables has traditionally been a very expensive neighborhood. The slight drop in sold price and the amount of inventory may also indicate that Gables is shifting over to a buyers’ market.
Got any insights I missed? Drop them in the comments below!
Thanks for reading! Next week we will do a quick history of another Miami neighborhood and follow that up with another market analysis.