A comprehensive look into the new construction housing market in Coral Gables over $2million

With quarter 2 in the books, it’s the perfect time to take a look at the Coral Gables new construction housing market compared to the first 2 quarters of 2016.  

 Currently in Coral Gables:

• 12 active new construction homes on the market, 6 of which are waterfront.
• 1 home went under contract in June,
•  2 closed between Jan 2017-June 2017.

 In 2016:

• During the same time there were 16 homes on the market (5 waterfront)
• 2 under contract
• 2 closed Jan 2016-June 2016.

There is not much change in the data from last year to this year for new construction homes in Coral Gables, which is pleasantly surprising given the endless talk about a surplus of inventory in the Miami housing market. This is great news for the homebuilders and investors because we can happily conclude that the new construction housing market in Coral Gables is strong, with less inventory this year compared to last year and the same amount of closed sales in the first two quarters of each year. Keep on building!

The new construction homes for sale in Coral Gables have a median list price of $2,824,000 and a median closed sale of $2,700,000, which is 95% of the asking price!!  Click here to take a look at the active homes on the market or recent closed sales 

A Look Ahead…

After analyzing the numbers and trends, there is a boost of confidence in the continued stability of the new construction housing market in Coral Gables.

As you may recall, last year we listed and quickly sold 1410 Sopera Avenue, a new construction masterpiece that combined modern technology with the warmth of Mediterranean style Gables architecture. This builder puts an enormous amount of attention to detail throughout his projects and we can happily say that he is in the process of creating another masterpiece in Coral Gables. We will update you throughout the process and stay tuned for future blog posts on insightful knowledge and details that go into building a new construction home.