Coral Gables Market Snapshot – March 2009 – $700,000 to $1,499,999

107377265_86112229c92
Well, the numbers are in for March! Here are our findings for Coral Gables in March 2009 on single family homes between $700,000 to $1,499,999.

There are currently 181 active listings in the MLS. There were 7 sales pending as of the end of the month, and 4 homes closed. In the past 6 months, 31 homes in this price range have sold.

At this time last year, there were 225 homes on the market, so we have seen a 19% decrease in the inventory in this price range. This is great news!

The average price per square foot of the sold homes in this price range was $231, versus $326 in March 2008. So the price per square foot of homes in this price range has dropped 29%.

All in all, it’s good news that our inventory has come down so much. And with these declining prices, it means more and more people will be buying again to help turn this market around!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: