Market Report

We are eight months into the year 2014 and it is very interesting to see the positive changes in the real estate market.

Inventory has increased in Coral Gables by 3.3% compared to the first eight months in 2013.

Pinecrest inventory has increased 32.1%  in 2014 and in addition, Palmetto Bay and Cutler Bay have increased more than 70% .




Houses For Sale

In the chart below, you can see statistics of the market based on the closed sales:

* Coral Gables:  10.4% less than 2013

* Pinecrest:  4% less than 2013
* Palmetto Bay:  4.7% more than 2013
* Cutler Bay:  10.5% more than 2013

Closed Sales

In Coconut Grove, the inventory is more limited compared to the previous cities analyzed.  Closed sales during 2013 Vs. 2014 has been reduced to 15%

Homestead inventory four years ago was grim, with foreclosures and short sales on the rise.  Now, 823 houses were sold, an increase in 8.7% vs. 2013. This city has surged with more pre construction projects already in development.




Homestead

*Information taken from MLS with approximate ranges. 

 

Highest Closed Sales (August 2014)

Coral Gables   

90 Casuarina

7 bedrooms

7 bathrooms

Waterfront

$6,200,000.00

 

Pinecrest

5790 SW 97 St.

6 bedrooms

7 bathrooms

$5,495,000.00

 

Cutler Bay

19528 SW 80 Ct.

5 bedrooms

4 bathrooms

$ 688,000.00

 

Palmetto Bay

8740 SW 155 Ter.

4 bedrooms

3 bathrooms

$810,000.00

 

Coconut Grove

1872 S. Bayshore Ln.

6 bedrooms

6 bathrooms

$5,950,000.00

 

Homestead

24163 SW 212 Ave.

4 bedrooms

3 bathrooms

$500,000.00

 

For a personalized report, please feel free to contact me at 305-905-3370.

 

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