Your Real Estate Market Update
Coral Gables, FL
Single-Family Homes
Maria Murdock | 305.815.9425
Coral Gables, FL
Sun May 26 2019
This week the median list price for Coral Gables, FL is $1,500,000 with the market action index hovering around 26. This is about the same as last month's market action index of 26. Inventory has held steady at or around 450.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Slight Buyer's Advantage
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $1,500,000 | |
| Per Square Foot | $496 | |
| Days on Market | 185 | |
| Price Decreased | 40% | |
| Price Increased | 1% | |
| Relisted | 10% | |
| Inventory | 450 | |
| Median House Rent | $2,250 | |
| Most Expensive | $29,900,000 | |
| Least Expensive | $250,000 | |
| Market Action Index Slight Buyer's Advantage | 26 |
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,187,500 | 5,961 | 0.5 - 1 acre | 6 | 7 | 23 | 3 | 4 | 263 |
| $2,149,500 | 3,966 | 0.25 - 0.5 acre | 5 | 5 | 60 | 5 | 3 | 206 |
| $1,198,000 | 2,623 | 0.25 - 0.5 acre | 4 | 3 | 65 | 7 | 1 | 150 |
| $699,000 | 1,679 | 4,500 - 6,500 sqft | 3 | 2 | 69 | 11 | 5 | 123 |