Happy New Year! I hope that 2017 is off to a great start for you – it sure is for me! On the first fiscal day of the year, I had three closings: two in Coconut Grove and one in the Redland. Three more closings are scheduled before the end of the month, which is indicative of the market upswing that we have seen recently.
Take a look at the graph above, which depicts months of inventory in Coral Gables, based on closed sales, between $1,000,000 & $2,000,000. You’ll see that between October and November of 2016, inventory fell from a peak of 26.5 months’ to 7.8 months’ worth. That is a dip that so drastic that it is certainly an anomaly, but if you compare November 2016 to November 2015, inventory is still down year over year. This past November’s inventory is also well below the average of 11.25 months’ inventory reflected in the graph, meaning that the market has picked up somewhat.
With 2017 promising an interest increase, we probably will not see another graph that looks quite so much like a roller coaster, but it is good to see inventory decreasing because houses are selling. I think that 2017 is going to be a great year for all of us here in South Florida!
See the full charts on the current Coral Gables Real Estate trends.
My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.
Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!
Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.