Months’ Supply of Homes in Coral Gables — Luxury Real Estate Sellers Still in Denial

posted on November 26th, 2010 filed under: Real Estate Market Data

Most of the price ranges in the Coral Gables single-family real estate market are exhibiting the most normal conditions since the downturn began.  The exceptions are the very low end, where anything priced under $250,000 sells almost immediately, and the very high end, where sellers refuse to lower their prices and buyers refuse to pay those prices.

Months Supply of Homes for Sale -- Coral Gables Real Estate -- Nov. 2010 (Table)There is now an almost comical 160-month supply of homes priced $1.5 million and up.

Months Supply of Homes for Sale -- Coral Gables Real Estate -- Nov. 2010 (Chart)

Aside from the inaction at the high end, the Coral Gables property market improved from the more broadly weak October picture.

Data are based on comparison of current active listings to October closed sales.

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posted by // This entry was posted on Friday, November 26th, 2010 at 11:17 pm and is filed under Real Estate Market Data. You can follow any responses to this entry through the RSS 2.0 feed.

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