State of the Market: Coral Gables

Coral Gables’ central location, leafy streets and abundance of, well, everything makes it easily one of the most desirable neighborhoods in Miami. This is old Miami – established in the ‘20s – and the vintage feel is everywhere! Plenty of greenspace, and veryaccessible. Coral Gables is dotted with parks and fountains that add a feeling of peace and relaxation everywhere you go. 

A Neutral Market

Let’s talk about what creates a “neutral market.” It’s mostly related to the amount of housing inventory available and how long it’s expected to remain available. In other words, supply and demand. In a buyer’s market there is at least 6 months’ worth of inventory – plenty of homes to choose from. A seller’s market happens when there is only 3 months’ or less worth of available housing inventory. Coral Gables is currently sitting right in between – making it a neutral market. 

Good for Buyers and Sellers Alike

A neutral market is equally beneficial to both buyers and sellers. If you’re in the market to buy you can expect to have a little time to shop around rather than having to jump in to make an offer immediately. You are also not likely to find yourself in a bidding war. Not to say that it couldn’t happen – because it does – but with more available homes the competition isn’t quite so fierce. Price per square foot in Coral Gables has been fluctuating over the past several months. 

If you’re looking to sell in Coral Gables right now, let’s talk. Because pricing has been up and down the best way for us to advise you is to do a free market analysis on your property. Our general take for sellers right now is to set a firm, but fair price and then to market your home perfectly to find the right buyer. The Kern Team is here for any of your real estate needs in Miami. Let us know how we can help!