Looking at pending home sales gives you a better indication of where the market is headed. Nationwide pending sales are steady, if you take a look at the first chart below you can see that the momentum of pending sales continued throughout the summer which sets us up for a great finish to 2011 as well as a good start to 2012.
Locally here in Coral Gables we are seeing the same trend. The red line in the second chart shows pending sale history in Coral Gables. You will notice a bump during May and June of this year which were the highest pending sale figures we have experienced in more than 4 years. As a whole the pending sales are stable which is a great sign for real estate in Coral Gables.
On a sidenote you can also see how low the inventory has fallen in the Gables which is indicated by the light green bars. The combination of lower inventory and higher demand contributes to a healthy market.
NATIONAL PENDING HOME SALES
CORAL GABLES PENDING HOME SALES
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.