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News for Coral Gables, FL - November 6th, 2015 1:28pm
The price per square foot in Coral Gables averaged $383 in September 2014. In September 2015 the average price per sq. foot is $420, up 10%. The inventory of homes is up 19% from September 2014. The days on market has also increased from 66 to 104 or 58% longer from September 2014. Yet more homes closed, 45%. This shows a slowing down of the market with longer days on the market, yet with prices going up and more sales.

News for Coral Gables, FL - June 19th, 2014 3:11pm
141 Single family homes sold in Coral Gables in the past 90 days, 38 of them were over $1M. Homes under $1M were on the market an average of 70 days, over a million the average was 91 days. The market is HOT in Coral Gables, with homes selling for an average of $407 per sq.ft. and about a six month supply. A year ago the average price was $371 per sq. ft.

News for Coral Gables, FL - March 12th, 2014 5:07pm
Feel like you live in an international city, but still have all the amenities and comfort of a small and pleasant community? Well, that is Coral Gables. According to a recent research done by Movoto, a real estate site, Coral Gables has been ranked 10th in their list of America's Friendliest Small Cities.

The real estate market continues to be hot in Coral Gables, with somewhat limited inventory and prices having risen over 13% in 2013. Our schools are tops, our streets are tree filled and gorgeous, what's not to love? Currently there are 316 available single family homes for sale, 7 of them are short sales and only 2 foreclosures in al price points. 155 condos/townhouses are on the market in all prices, with 7 of them short sales and 6 foreclosures, with a median list price of $750,000 and a median sale price of $738,000. The average listing price for single family homes is $1,198,000 and sale price is $1,121,000. Coral Gables is home to many locals and international residents, considering it a very safe investment.

News for Coral Gables, FL - June 25th, 2013 11:21am
The market is red hot in Coral Gables! With very limited inventory, properties are selling in record time with multiple offers at or above asking price. Prices are going up, but are still way below the peak. Now is the time to buy while interest rates are historically low and the prices are within reach. There are few foreclosures or short sales and no "shadow inventory". There are only 267 single family homes on the market in all price points in Coral Gables, 10 or which are short sales and only 1 foreclosure. Because Coral Gables is considered a top spot to live and has been for many years it is considered a very safe investment and over 45% are cash purchases.
National Market Conditions
2018 1st Quarter Market Report: Home Sales Steady - Prices Continue to Rise

The 1st quarter of 2018 ended on a good note with March existing home sales only down slightly over last year, and with 2018 home sales expected to exceed 2017 excellent year. Home Prices in 2018 continue to rise, increasing 5.8% over the end of March last year.

The most notable change in the 1st quarter was an increase in seller activity. Our survey showed that in 46% of the markets surveyed there were still more buyers than sellers, but a decrease of 27% from March 2017. Additionally, 17% of our markets surveyed showed more seller activity than buyer activity, an increase of 8% over last year. The remaining 37% of the markets showed an equal amount of buyer and seller activity which was an increase of 19% over last year. The increased activity, however did not ease the tight inventory 73% of our markets showing a very tight supply of homes available for sale. Home prices are also on the rise with 86% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were down 1.2% over last year, but annual sales are expected to hit 5.6 million units compared to 5.1 million in 2017; inventory of unsold homes is at a 3.6 month supply and 46% of all homes sold in under one month.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up significantly in the 1st quarter of 2018 compared to the buyer and seller activity from last year. Buyer activity is steady or increasing in 94% of the markets surveyed and decreased in only 6% of the markets surveyed indicating a significant 8% increase in activity from Spring 2017. Simultaneously the trend for seller activity posted a solid 10% gain in the 1st quarter of 2018 with 85% of the markets indicating steady or increased seller activity compared to 75% of the markets at this time in 2017. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly. In fact, according to NAR inventories have decreased to 3.6 month supply compared to 3.8 months in March of 2017. A balanced "normal market" is considered to be a 6 month supply of homes for sale.

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Fall 2018 Market Update
Prices have stabilized in Coral Gables. The well priced and updated homes are selling within days of coming on the market.
Average Sold Home Price: $750,000

Average Time on Market: 90-120 days

Best Selling Price Range: $600,000 - $649,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Increasing

Buyer's or Seller's Market: More sellers than buyers

Buyer Activity for the past 90 days: No Change

Seller Activity for the past 90 days: No Change

Multiple Offers? Yes

Multiple Offers Commentary: great condition properties priced to sell could get multiple offers. We have a limited supply of inventory. All price ranges are selling well.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Comments on Financing For Qualified Buyers: condo financing remains an issue. Most condo sales are cash sales, due to many investors and limited financing, although it is improving from last year.

Housing Inventory: Limited Supply

Housing Inventory Comments: The amount of short sales and foreclosures currently available is less than 5% of the market in Coral Gables.

Greatest Activity: Repeat Buyers

Best reason to buy or sell: A great and stable community and competitive interest rates creates a perfect time to buy in Coral Gables!

Nearest Metro Area: Miami

Housing Hot Spots: Schenley Park and Blue Road areas just west of SW 57 Ave are selling well.

Contact Information
Linda Tartak ABR CIPS CRS GRI
305-962-5156
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Mortgage Rates for Dec 15th, 2018
30 year fixed rate: 4.51%
15 year fixed rate: 3.90%
30 year jumbo rate: 4.41%
15 year jumbo rate: 4.12%
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Real Estate Professional, Linda Tartak ABR CIPS CRS GRI Linda Tartak ABR CIPS CRS GRI
Coldwell Banker
Specializing in Coral Gables Real Estate
1500 San Remo Avenue
Coral Gables, Florida 33146
305-962-5156
Email Me | Receive New Listings by Email
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(Because current market conditions can change rapidly in any given marketplace,
please check with Linda Tartak ABR CIPS CRS GRI for current Coral Gables, FL market conditions before acting on this information.)
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