If you have been on the fence about buying a home, then this figure will certainly light a fire under you. Per my calculations, the average home in Coral Gables has increased an astonishing $1,300 per day every day this year. If that doesn’t make you want to get something under contract NOW, then I don’t know what will. The market is showing no signs of slowing down and if you wait another 6 months the home you can afford today may be out of your price range.
Home values are rising at a quick pace. Last year, the average home in Coral Gables sold for $1,082,454 and this year they are selling for an average of $1,373,806. They have also increased from $332.00/square foot last year, up to $379.00/square foot this year.
Coral Gables isn’t the only city in South Florida which is seeing gains. According to the Miami Association of Realtors, median sales prices increased by 6% in June compared to the same month last year and the number of sales increased by 2%.
The market is changing rapidly and it is more important than ever to use a knowledgeable, experienced Realtor. If you are interested in setting up a buyer or seller meeting with us, please contact me directly at 305-342-1623 or send us a message here.