Coral Gables Single-Family Homes Sales Running Flat Year-Over-Year?

posted on January 21st, 2010 filed under: Real Estate News

It’s become a reliable assumption that real estate has found some kind of bottom, if not in prices, then at least in sales.  Heck, I told you a long time ago that sales would recover before prices.

But the number of closings has seemed rather thin of late.  Sure enough, a data check on the MLS shows that the number of closed transactions for single-family homes in Coral Gables from December 1, 2009 to January 15, 2010 was exactly the same as the number from December 1, 2008 to January 15, 2009.  For each period, the MLS shows 41 closed sales.

A few more will probably trickle in from lackadaisical brokers for the ’09-’10 period.  But the year-over-year sales gains had been tremendous in the months running up to the initial November 30, 2009 expiration of the $8,000 buyer tax credit.  Now the gains appear to have largely evaporated.

Real estate sales in Miami and Coral Gables may have fallen back down from a government-induced sugar high.

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posted by // This entry was posted on Thursday, January 21st, 2010 at 11:56 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.

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