Supply & Demand In Coral Gables | Out Of Balance

September 16th, 2015 Written By

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When I take a look at what is currently for sale and what has closed in 2015, I notice a large imbalance between the supply and demand of homes in Coral Gables.  Right now there are 331 active listings which are made up of 119 priced under $1,000,000 and 212 priced over $1,000,000. You can see that the majority of homes on the market are listed over $1,000,000.  When you compare those figures to what has sold this year you will see that the distribution shifts and the majority of homes that sell are priced under $1,000,000.  Out of the 396 homes that have closed in 2015, 233 sold under $1,000,000 and 163 sold over $1,000,000.

This data is the perfect example of why homes listed under $1,000,000 have increased in value and are selling so quickly when they hit the market. The demand for homes in this segment of the market is high (58% of the total homes sold), while the supply is low (representing just 35% of the total homes for sale).

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here. 

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