Doral Real Estate Market Update July 2024: Trends, Inventory, and Market Insights.
Are you keeping up with the latest trends in the Doral real estate market?
Our July 2024 update offers insights into inventory changes and market dynamics for Single-Family Homes and Condos.
When we explore Doral Real Estate Market Data, it’s essential to distinguish between different property types and the data we use for comparisons. Single-Family Homes and Condos each exhibit distinct trends. Today, we’re highlighting general trends, but remember, evaluating a specific property requires a closer look at each micro-market.
Current Inventory Trends in Doral Real Estate:
Right now, inventories in Doral are on the rise compared to recent years, though we still have fewer active listings than we did 5 years ago, pre-COVID. Additionally, properties are taking a bit longer to sell.
For example, in Doral, we have 67% fewer Single-Family Homes and 43% fewer Condos on the market than we did in 2019. If we compare with 2023 we have 79% more Condos and 20% Single-Family Homes.
Supply and Demand:
Single-Family Homes are still showing characteristics of a Seller’s Market, whereas Condos are moving towards a Balanced Market. There’s no sign of a market crash in sight, especially with the expected interest rate reductions expected to come in September.
To Sum Up:
- Inventories are increasing, more in Condos than in Single-Family Homes.
- The market is stabilizing into a more balanced state.
For more details on specific properties in Doral or any other South Florida Real Estate Market, don’t hesitate 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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Is this a good time to Buy or Sell a Property?
Real Estate market cycles are never ending… we go from Seller’s Markets to Buyer’s Markets with Balanced or Neutral Markets in between; and the other way around. Predicting exactly when a market will shift it’s impossible, but there are several signs that indicate where it is trending.
