HOME SELLING INFORMATION

September 13, 2022

Fall 2022 Coral Gables State of the Market

As we move into the fall of 2022, the Coral Gables market is continuing to trend upward. Fall of 2021 into winter of 2022 saw pricing swings in both directions. However, we are back on the steady upward track we were seeing for much of last summer.  The median sale price in the area is $950K, which is up 8.6% year over year. Homes are being sold in about 32 days on the market compared to 63 days during this same period last year. The number of homes sold, however, is down 35.4%: 104 homes were sold in June of this year, while it was 161 in June of 2021.  What Does It All Mean? The data suggests we are […]
September 6, 2022

Selling Your Home in a Down Market

After 2008, it’s normal for buyers and sellers to feel a little skittish about less-than-ideal market conditions, but 2008 was (hopefully) a once-in-a-lifetime event. The next recession, whenever that may be, will very likely not be as damaging for real estate (as a whole).  So, as of right now, there’s no reason to panic – but there is reason to be concerned. The best way to avoid worrying about what is going on in the market is to have the best listing in your neighborhood. Here’s how to outshine the competition when you’re selling your Miami home in a down market.  Price Your Miami Home Right From The Start You only make a first impression once. So once you are […]
August 2, 2022

State of the Market: Palmetto Bay + Pinecrest

Heading south on US-1 has been a growing trend in real estate for the past couple of years. Because of this, the state of the real estate market in Palmetto Bay and Pinecrest has been leaning heavily towards the sellers since early 2020.  Now, as interest rates are rising, what’s most interesting is how little has changed. Currently, there are 112 properties for sale in Pinecrest and 91 in Palmetto Bay. Housing Inventory in Palmetto Bay & Pinecrest The level of inventory is up from last year, but still well below pre-COVID levels of inventory (low inventory typically drives up prices). Homes in Palmetto Bay are currently selling with a median sale price of $1,017,000and Pinecrest homes are going for a median price of $2,623,000. These are both still […]
July 19, 2022

The Next “It” Neighborhood in Miami

There’s no doubt why Miami is a very desirable place to live. With the tropical weather, beautiful beaches, and amazing restaurants, what’s not to love? All these factors – plus the business climate in South Florida – are reasons the real estate market in Miami remains strong. Prices have been rising steadily over the past few years and that has been leading to a common question we get – what is the next ‘It’ neighborhood in Miami? Before we dive in – to be clear, there are many neighborhoods that are attracting a lot of developer attention like Allapattah for which there is a strong argument to be made that it will be the next ‘It’ neighborhood.  We’d rather talk […]
July 12, 2022

Should Schools Play a Role in Your Location Selection When Buying a Home?

Real estate is always about location. Neighborhoods are – in a way – defined by their surrounding schools. There is a strong correlation between the quality of the schools nearby and the demand for homes within a given neighborhood (read more about that here. This is why it’s crucial to do your research on districts when house hunting. Even if you don’t have kids, school districts should still be carefully considered when buying a home.  Commute Times Near Schools in Miami When looking at a home near schools, we always encourage our clients to check out the neighborhood during drop-off and pick-up times. If you don’t have kids, you may discover that certain streets are not ideal due to school-related traffic. […]
July 5, 2022

What’s New In Coconut Grove Real Estate?

The Grove has seen a lot of changes over the past few years – but at the same time, has kept the allure it’s had for decades. There has always been a certain level of walkability and community that other neighborhoods just don’t possess. It’s not hard to see why with the restaurants, new and improved Cocowalk shops, and tree-lined streets, right on the bay. What We’re Seeing in Coconut Grove Real Estate The part of the Grove along Main Highway & Ingraham has been a mainstay in desirable addresses for ages. A decade ago we saw the parts east of Mary st and north of Bayshore flourish. Now we’re starting to see homes on the other side of US-1 […]
June 21, 2022

The Pros and Cons to Hosting an Open House

While many agree that hosting an open house is an excellent way to get potential buyers through your door, it is still a heavily debated topic between homeowners and real estate professionals. Truthfully, there are pros and cons to choosing to have or forgo an open house. Having a strong understanding of these pros and cons can help you make an informed decision. Pros Increased exposure – Perhaps more important than having open houses is gaining exposure for your home. While a sale may not come directly from an open house, you will undoubtedly gain exposure from ads, street signs, and promotions for your open house     . Low pressure environment – Open houses are usually very laid back and give potential buyers an […]
March 29, 2022

Recent Sales in Palmetto Bay

When looking to buy or sell a property, one of the first things to consider is what the comps are for recent sales in the area. As for Miami, the numbers still show a seller’s market.  In Palmetto Bay specifically, we’re seeing very little supply – only about 40 active listings ranging from 3 bedroom homes in the mid $400s near US-1 to estates abutting the Deering Nature Preserve asking $2,500,000.  Recent sales have mostly ranged from $325 a square foot to $375 a square foot. The median listing home price is sitting right around $875,000 in early 2022, which is up over 29% in the last 12 months. Homes in Palmetto Bay have been selling right around asking price in […]
March 15, 2022

Questions Empty Nesters Should Ask Before Downsizing

For many empty nesters, there comes a time to face the impending question: keep the family home or downsize to something smaller? Like any real estate investment, there are a lot of things to think about when downsizing to a smaller home. Here are a few questions to ask yourself before deciding whether or not to downsize: Lifestyle With the kids out of the house, you now have the freedom to decide how you want to live your life. Before downsizing, it’s important to think about what you do – for instance, if you’ve been commuting to work an hour plus each way to be near the kids’ school, and if your hobbies are near your home. It’s not uncommon for empty […]