Listings of Bank-Owned (REO) Luxury Homes Surge in Coral Gables Real Estate Market

posted on April 15th, 2011 filed under: Real Estate Market Data, Real Estate News

In the last 90 days, more bank-owned (REO) homes have been listed over $900,000 in Coral Gables than were listed in the preceding year.

Since January 15, 2011, 14 bank-owned homes have been listed in Coral Gables.  Five of them — more than a third — have been over $900,000.

From January 15, 2010 to January 14, 2011, 67 bank-owned homes were listed in Coral Gables.  Four of them — less than one sixteenth — were over $900,000.

825 Coral Way

825 Coral Way

There were already cracks in the ice of the overpriced upper end of the Coral Gables real estate market.  The surge in luxury-home liquidations will add to the downward pressure on prices in this bloated segment.

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posted by // This entry was posted on Friday, April 15th, 2011 at 10:21 am and is filed under Real Estate Market Data, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.

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