Euphoric Miami Real Estate Market Provides Unique Opportunity for Sellers | NOW is the Time to Sell your Coconut Grove Home

Record Breaking Prices in the Coconut Grove Real Estate Market!

The Miami real estate market is currently in a state of euphoria. Relocation buyers are still coming into town and inventory is at an all time low. The extreme dryness of the market is leading to record-breaking prices. The market cannot go up indefinitely and we expect the market to normalize by the end of 2021. Simply put, some homes are selling at over inflated numbers. This is to say that the market won’t go down in many cases, but outlier properties that suddenly sell at 50% more than they sold 2 years ago will become less likely. These anomalies are caused by hysteria and this will stabilize soon. After we pass this moment of euphoria, we will see less anomalies in property prices as exceptions to the rule will cease to exist. Sellers can only profit from massive gains in a certain window, which is NOW. This window of opportunity will go away in the next months and the market will normalize.

* We focused this article on Coral Gables, but this is the case for homes in Pinecrest, Coral Gables and Ponce Davis.  Contact the David Siddons Group at (305) 615-7263 for more information about the latest sales prices and opportunities for sellers.