Last year it seemed like every other deal in Coral Gables was selling at or above list price. If you were the type of buyer who liked to negotiate, then you were out of luck on many properties which came on the market. In fact, during 2013 there were 144 single family homes in Coral Gables which sold for full price or higher.
This year the market has certainly slowed down. As of today, there have been only 27 homes closed in Coral Gables which traded for full asking price. Last year at this time there was almost double that number with 44 on the books.
One reason behind the drop in full price deals could be the fact that sellers are more optimistic with their asking prices and buyers aren’t willing to come up that high. For the past 2 years, Coral Gables real estate has certainly favored the seller. Is this the first indication that we are headed towards a more balanced market? I can’t predict the future but will certainly keep you informed of any new trends or important sales which will impact the market.
Real estate in Coral Gables is changing on a daily basis, if you own a home in Coral Gables and are considering selling please don’t hesitate to contact us at 305-342-1623 or send us a message here. We are Coral Gables real estate specialists and would be happy to provide you with a no pressure home valuation.