Coral Gables Condo Market Update 9/2011
Coral Gables Condo sale were for the most part were steady for the month of September. There were 4 foreclosure ( “bank owned listings”)and there were 7 short sales. I am afraid that we will still see more short sales as times goes on. The good news is that banks are processing them faster and this should clear out the Coral Gables real estate market quicker. Luckily for both buyers and sellers Coral Gables remains a great place to live so sales should continue with the record low interest rates and great prices for Coral Gables real estate. The most active price range was between $200,000 to $250,000. The 2nd most active were sales under $149,000 This also bought down the price per square foot. Forty percent of the sales to0k 4 months or more to sell and closes ( see graph below).
Coral Gables condo iventory for sale spiked up form 7.5 months from the previous month to 8.5 months. This may be due to pending sales that did not close and were placed back on the market or simply these are condos new on the market for the first time. There are currently 169 condos for sale 24 of which are short sales and 1 foreclosure.
Keep in mind that the graphs are to give you an idea. Each class of building will be different may or may not command more per square foot.
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See Coral Gables Condos for sale
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1 - 5 of 127.
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(all data current as of
5/20/2012)
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$55,000 : 1014 SALZEDO ST 201, Coral Gables1 bed, 1 full bath
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$59,000 : 700 BILTMORE WY R3, Coral Gables0 beds, 1 full bath
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$79,000 : 40 SALAMANCA AV 2, Coral Gables1 bed, 1 full bath
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$97,000 : 50 MENORES AV 703, Coral Gables1 bed, 1 full bath
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$97,000 : MLS # A1632907 in Coral Gables2 beds, 1 full, 1 part baths
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