CORAL GABLES REAL ESTATE MARKET UPDATE: JULY 2024
When analyzing Coral Gables Real Estate Market Data, it's crucial to understand the nuances of different property types and the data we're using for comparisons. Single Family Homes and Condos in Coral Gables each have their unique patterns and behaviors. Today, we’ll focus on general trends, but remember, assessing a specific property requires a closer look at each micro-market.
Currently, we’re seeing an uptick in inventories compared to recent years, although we're still seeing fewer active listings compared to 5 years ago, pre-COVID. Properties, also, are taking a bit longer to sell.
For instance, in Coral Gables, we have 60% fewer Single-Family Homes and 50% fewer Condos on the market than we did in 2019. And we have 80% more Condos and 46% more Single-Family Homes available for sale than last year.
In terms of supply and demand, Single Family Homes continue to show signs of a Seller’s Market, while Condos are leaning towards a Balanced Market. There’s no indication of a market crash on the horizon, especially with the anticipated interest rate reductions expected for September.
To summarize:
- Inventories are on the rise, still at healthy levels
- The market is stabilizing into a more balanced market.
For insights on specific properties or markets, feel free to reach out!
Take the Smart Path!
Miami-INES GARCIA
HER PROMISE
Working with Inés is not only about her experience, is not only about how much she cares… it is also about passion to keep learning every day in an ever-changing industry; all this along with communication which is key and the cornerstone of every relationship.
A long time South Florida resident with a deep knowledge of the different lifestyles you can enjoy in Miami-The Capital of the Americas.
Positive Impact:
Her goal is to positively impact the people around her transforming the experience when buying and selling real estate in a relationship based on education and enjoyment.
Trust:
What you see is what you get… transparent relationships and a lot of communication.
Congruence:
She follows her heart and her customer’s needs and interests lead the relationship.
The REAL Customer Experience:
She applies her knowledge and experience to simplify the complexities of the real estate process for you.
HER STORY
Born and raised in Venezuela, Ines moved to Miami in the year 2000. She owned a Real Estate Office in Venezuela for the largest network there, for 5 years prior to her moving to the USA.
Having lived in Broward and Dade, and selling in several areas, provides her broad perspective of the South Florida Real Estate Market. Currently a Downtown Coral Gables resident who enjoys everything about the city… especially the ability to walk to restaurants, the super market and around the Granada Golf Course.
Ines has an architecture degree from the Universidad del Zulia in Venezuela and holds an MBA from the University of Miami. Her background provides a strong foundation to share insights that help her customers make informed Real Estate decisions.
Currently a Real estate Advisor with KW Legacy. During her Real Estate career, Ines has worked both in sales and management, being the managing broker for several years with one of the largest companies in South Florida.
Previously participated in the Miami Association of Realtors as a member of the Grievance Committee, and prior to that, served on the Professional Standards Committee at the Fort Lauderdale Association of Realtors.
Ines actively participates in “Fundación Mayacuchas”, that helps organizations in Venezuela providing food and medicines along with used clothing that is distributed among the people who need it most.
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