Pending sales are a good indication of where the market is headed in the coming months. We know that 2012 was a record breaking year for real estate in Coral Gables but the million dollar question is whether activity will remain high into 2013.
There are currently 66 properties that were placed under contract in Coral Gables during 2013 (there are a total of 107 pending altogether). Of these, the average list price is $1,173,000 and the average list price per square foot is $330.00.
These numbers indicate that the Coral Gables market will continue its trend of solid sales figures and strong values. For comparison sake, 2012 experienced an average sale price per square foot of $303.00. If the current pending sales close for 93% of their list price (the current average in Coral Gables), values will remain steady as we enter the second quarter of 2013. This is great news for Coral Gables homeowners who are interesting in selling this year and helpful information for buyers who can purchase a home with confidence that values aren’t going down anytime soon.
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note here.
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