Existing sales reports tell you what has happened in the past whereas a pending sale report will show you what is going to happen in the future.
Currently in Coral Gables there are 96 homes under contract. The average “list price per square foot” of these pending home sales is $268.00 which is well below the average “selling price per square foot” in Coral Gables during 2012 ($302.00).
Although I can’t predict the future, there are certain trends that I look at to help determine the direction of the market in the coming months. These figures indicate that there may be a slight dip in certain segments of the Coral Gables real estate market in the months ahead.
The pending sales also show what the buyer demand is at the moment, and you can see from the chart below that the $1,000,000 and below homes are certainly the most active.
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