Comprehensive Real Estate Report for Coral Gables – Coral Gables Homes of $1M – $1.5M
The most comprehensive and up-to-date report on the Coral Gables real estate market
Homes between $1 million and $1.5 million
A 3-bedroom Coral Gables home on San Domingo Street, now listed for $1,274,000.
Sale prices for Coral Gables homes
In 2015, the average sales price per Sq.Ft was $398 for a Coral Gables home in this price range. Looking at the graph below we can see the continuous increase in the selling price per Sq.Ft since 2011, with a 33.5% increase in property values over the last 5 years. The average selling price for properties between $1M and $1.5M was $1,250,694.
The amount of homes sold over the years. 2015 Shows average sales activity compared to previous years.
The percentage of increase or decrease in the selling price per Sq.Ft over the years.
Inventory levels and days on market
The inventory within this price range of Coral Gables homes decreased significantly from 2011 to 2013. In 2013 we experienced a true sellers market. This year, in 2015, we see an average of 10 months of inventory which is a moderate buyer’s market.
The months of inventory is an important indicator in real estate. It indicates how many months it takes to sell all the current listings under the assumption that no new listings will enter the market.
♦ Buyer’s market: more than 9 months of inventory based on closed sales
♦ Neutral market: 6 – 9 months of inventory based on closed sales
♦ Seller’s market: less than 6 months of inventory based on closed sales
The days a property stays on the market before being sold has decreased considerably. In 2011 it was 206 days while today this has been decreased to only 75 days.
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Coral Gables homes for sale at this moment
There are currently 60 homes on the market. We showcase the most important data below. In case you might want to know more about Coral Gables homes for sale in this price range contact David or search for Coral Gables homes yourself by clicking on the link.
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