The Foreclosure Market In Coral Gables
January 31st, 2010 Categories:Coral Gables Real Estate
Coral Gables Foreclosure | 4114 San Amaro Drive | Sale Price: $601,000
In 2009 there were 53 single family foreclosure homes that sold in Coral Gables. Of these homes, the average selling price was $368,882 with an average sales price per square foot of $170.00. To put these numbers into perspective, the average sales price of a non-distressed home in Coral Gables (2009) was $987,687 at an average sales price per square foot of $284.00.
As would be expected the sales price to list price ratio for foreclosure homes in Coral Gables is 96% whereas the ratio is only 90% for non-distressed homes. In layman’s terms, the foreclosure homes sold much closer to the asking price than the non-foreclosures. This is due to the fact that the properties are already heavily discounted when they hit the market and buyers recognize the value in them. View all properties that SOLD in foreclosure in Coral Gables in 2009.
Shockingly there are only 5 single family homes on the market right now in Coral Gables that are currently in foreclosure. They are all priced under $1,000,000. View all foreclosure properties for sale in Coral Gables.
Contact me here, or call me on my cell at 305.342.1623 if you are interested in buying, selling or renting real estate in Coral Gables, Florida.
