{"id":25515,"date":"2009-09-19T09:49:46","date_gmt":"2009-09-19T09:49:46","guid":{"rendered":"http:\/\/thekeyinsider.com\/2009\/09\/19\/coral-gables-real-estate-year-to-year-comparison\/"},"modified":"2019-04-23T20:55:39","modified_gmt":"2019-04-23T20:55:39","slug":"coral-gables-real-estate-year-to-year-comparison","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/coral-gables-real-estate-year-to-year-comparison\/","title":{"rendered":"Coral Gables Real Estate: Year To Year Comparison"},"content":{"rendered":"<p style=\"text-align: center; \"><img loading=\"lazy\" class=\"aligncenter size-full wp-image-2474\" title=\"salvador Park Coral Gables\" src=\"http:\/\/thekeyinsider.com\/files\/2009\/09\/IMG_4256.JPG\" alt=\"salvador Park Coral Gables\" width=\"590\" height=\"442\" \/><\/p>\n<p style=\"text-align: left\"><strong>Have prices hit bottom?<\/strong><\/p>\n<p style=\"text-align: left\">There has been a dramatic drop in prices in Coral Gables<strong>.<\/strong> An analysis of closed sales so far this year reveals that the average sale price per square foot\u00a0is $273 while the median is $255. For the same period last year (January to September) those numbers were $312 and $294 respectively.<\/p>\n<p style=\"text-align: left\"><strong>What is the average price of a home?<\/strong><\/p>\n<p style=\"text-align: left\">The average sale price of\u00a0a Coral Gables home this year is $888,250 (median sale price is $547,500). The average sale price in 2008\u00a0was $951,314 and $1,235,236 in 2007!<\/p>\n<p style=\"text-align: left\"><strong>What is selling?<\/strong><\/p>\n<p style=\"text-align: left\">Of the 208 homes sold so far in 2009 (221 for the same period last year), only 40 sold for over $1 Million, making this the slowest segment.\u00a0The\u00a0up to\u00a0$500K and the $500K-$1 Million price ranges\u00a0have\u00a0seen\u00a0equal activity with 84 closed sales each.<\/p>\n<p style=\"text-align: left\"><strong>Is there room to negotiate?<\/strong><\/p>\n<p style=\"text-align: left\">On average, buyers are paying 90.8% of the listing price; but keep in mind this number factors in all overpriced, underpriced and well priced homes. Well priced homes\u00a0are getting\u00a0something closer to\u00a095% of the asking price on average.<\/p>\n<p style=\"text-align: left\"><strong>What should we expect in the months to come?<\/strong><\/p>\n<p style=\"text-align: left\">Even though the level of activity is virtually the same as last year&#8217;s, I have seen the\u00a0months of inventory figure as well as the number of new listings hitting the market go down. I do not know if this downward pressure of supply will be enough to affect prices.\u00a0 The average sales price per square foot, which I calculate by averaging out three months to account for outliers, is still going down. It was $287 in July, $276 in August and $268 in September.<\/p>\n<p style=\"text-align: left\"><strong>Conlusion: It is\u00a0ALREADY a great time to buy in Coral Gables.<\/strong><\/p>\n<p><strong><strong>Want to receive my posts directly to your inbox?<\/strong><a href=\"http:\/\/feeds2.feedburner.com\/TheKeyInsider\" target=\"_blank\" rel=\"noopener noreferrer\"><strong><span>\u00a0Click here<\/span><\/strong><\/a><strong>\u00a0to subscribe to The Key Insider.<\/strong><\/strong><\/p>\n<p><strong>Looking to buy or sell a property in Coral Gables? Please contact me at 786-301-1054 or\u00a0<\/strong><strong><a href=\"http:\/\/thekeyinsider.com\/contact\/\" target=\"_blank\" rel=\"noopener noreferrer\">send me a note here.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have prices hit bottom? There has been a dramatic drop in prices in Coral Gables. An analysis of closed sales so far this year reveals that the average sale price per square foot\u00a0is $273 while the median is $255. For the same period last year (January to September) those numbers were $312 and $294 respectively.<\/p>\n<p class=\"more-link\"><a href=\"https:\/\/ewmrealestate.com\/blog\/coral-gables-real-estate-year-to-year-comparison\/\" class=\"themebutton2\">Read More<\/a><\/p>\n","protected":false},"author":5395,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coral Gables Real Estate: Year To Year Comparison - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/coral-gables-real-estate-year-to-year-comparison\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coral Gables Real Estate: Year To Year Comparison - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"Have prices hit bottom? There has been a dramatic drop in prices in Coral Gables. An analysis of closed sales so far this year reveals that the average sale price per square foot\u00a0is $273 while the median is $255. 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