Coconut Grove, Coral Gables & South Miami Real Estate
Expert Guidance with a Personal Touch
Categories
Tri-City Market Update – July 2010 – Coconut Grove, Coral Gables & South Miami
The national news regarding real estate sales was a bit negative recently and the tri-city area was not immune to this downturn. All segments of the market, with the exclusion of the $500K – $1MM, showed a significant drop in closed sales for the month of July. The good news is the pending sales were up across the board indicating an increase in sales in the coming months. Only time will tell if these homes under contract make it to the closing table.
The below graphs outline the sale statistics over the past year, for the areas of Coconut Grove, Coral Gables and South Miami. As usual, I have broken down the data into categories: Single family under $500K, $500K – $1MM, over $1MM and Condominiums/Townhomes.
Single Family Homes under $500,000.
Under $500,000.
The under $500,000. sales were down 50% over the two previous months.
Single Family homes from $500,000 to $1,000,000.
$500,000. to $1,000,000.
The pending and closed sales is holding steady in this segment of the marketplace.
Single Family over $1,000,000.
Over $1,000,000.
The over $1MM market seems to be in line with the under $500K for this month with sales down 50% but showing a slight increase in pending sales.
Condominium and Townhomes
Condominium and Townhomes
The condo and townhome market is the same as most, closed sales are down 36.4% and pended sales up 6.1% over the previous month.
If you or someone you know is looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami real estate, give me a call at 305-987-2644 or send me a note here.
