Before our eyes, the market is shifting again. Literally there are few good homes available on the market these days. We're talking "non-short sales", as most people don't want to fuss with short sales.
The graph above shows "single family" home data for the City of Coral Gables, properties listed under $1 Million. Year to date, there was a 31.2% decline in single family home listings while sales were up 52% since Nov. '08.
This lack of good "single family home" inventory makes it a unique time for those sellers who really want to sell to put their property for sale now. My last two listings / sales to go under contract each went in a bidding war with multiple offers: Old Spanish on Sarria in the Gables and South Miami property sale on 42 ST.
We are seeing similar data in South Miami and surrounding neighborhoods of Coral Gables. In the past 90 days of active listings, 50% of the inventory has either sold or gone under contract!
If you are considering buying a property, I can't stress enough - now is the time. Carpe Diem!
Posts
No comments:
Post a Comment