The Coral Gables real estate market is currently experiencing a “buyer’s market.  A buyer’s market emerges when there are more homes on the market than there are buyers. A “normal or stable market” exists when there is equality between buyers and sellers and an active home inventory with a  4-6 month supply of homes.  Meaning that if no new home came on the market, the actively listed homes would sell out in 4-6 month’s time.  In a “seller’s market“, the supply would be less than 4 months and in a “buyer’s market“, the supply more than 6.  Currently, there are roughly 450 homes for sale in Coral Gables and they are selling at a rate of approximately 35 per month.  Homes for sale/sold homes per month = supply in months.  Coral Gables has 450 homes for sale/35 homes sold per month = 12.8 months of supply.  So we have nearly twice as many homes on the market as we do buyers for a normal market.

What a Buyer’s Market means for Coral Gables Buyers

You have a great selection of homes to choose from and are likely to find a home that you like at a good price.  Prices are significantly less than in the past five years and the entry level for buying a home in Coral Gables is lower than it has been in years.

Helpful articles for home buyers in Coral Gables

What a Buyer’s Market means to Coral Gables Sellers

Less than 10% of homes are selling every month.  You want yours to be one of them.  To do so you have to look great, be priced right and marketed well.  A buyer’s market does not allow time to “test the price” or “wait and see”, any decline in the market means the home will sell for less later than now, so selling NOW is the key.  Work with a Coral Gables Realtor who knows the market, can help you prepare your house to be the most attractive and market to ready, willing and able buyers.

Helpful articles for home sellers in Coral Gables

If you are considering entering the Coral Gables real estate market as a buyer or seller, call Janie Coffey, the Coral Gables specialist today at 786-252-4970 to find out more about just the right deal for you.

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