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Downtown Coral Gables Condo Market Report

Adrian Salgado

Adrian Salgado is a REALTOR® with the Gables Mavens team at Engel & Völkers in Coral Gables, FL...

Adrian Salgado is a REALTOR® with the Gables Mavens team at Engel & Völkers in Coral Gables, FL...

Apr 24 5 minutes read

Buying or selling a condo in Downtown Coral Gables this year?

Real estate is a hyper-local phenomenon. 

Having a clear understanding of the latest condo market trends in the 33134 zip code of Coral Gables (i.e., Downtown Coral Gables) equips you with the knowledge necessary to make informed decisions that keep you from overpaying for a condo or having your condo sit on the market indefinitely with multiple price reductions and low-ball offers. 

Our easy-to-understand Coral Gables market reports break down the most important information at a city and zip code level, so you know exactly how YOUR condo market is doing.

Looking for other market reports for the Coral Gables real estate market?

Click here for the 33134 Single Family Homes Market Report

Click here for the 33146 Single Family Homes Market Report

Click here for the South Gables Single Family Homes Market Report




Year Over Year Comparison

  • Listing inventory decreased by 3.28% year over year to 147 condos listed for sale. 

  • Condo sales slipped by 1.9% to 53 condos sold.

  • The absorption rate, the number of months to sell all condos at the current rate of sales, decreased by 18.2% to 7.2 months.

  • The condo median sales price increased by 9.4% to $385,000 while the median sales price per adjusted square foot increased by 6.9% to $340.

  • Condo sales above $1,000,000 slipped by 37.5% (5 sales).

  • The median size of condos sold increased by 1% to 1,125 square feet.

  • Cash sales accounted for 60.4% of all condo sales.


Tips For Buyers

If you're in the market to buy a condo in Downtown Coral Gables (or any other area), it's important to know and understand the hyper-local market statistics for the type of condo you're interested in. 

An agent (or a team of agents) who specializes in your area of interest can gather and help you break down the information you need to gain insight on a particular area.

Knowing what type of market you're in allows you to develop an effective negotiation strategy that leads to results. 

Should you offer 10% less than the list price or 3% above asking price? Should you request that the seller pay for all of your closing costs, a portion, or none at all? Should you offer to close in 60 days or 30?

Working with an experienced team of agents to help you navigate these sometimes treacherous waters can mean the difference between securing your dream home or insulting and alienating a seller with a "low-ball" offer.



Tips For Sellers

As the market continues to shift in favor of home buyers, it's important that you do ALL of the things necessary to get the highest price possible in the shortest amount of time with the least amount of worry and inconvenience:

1. Prepare your condo to sell. 

2. Price your condo correctly from the get go.

3. Add professional photography and walkthrough tours, and expose your condo on the proper web portals and social media channels.

Executing these 3 steps with the help of an experienced team of marketers and agents results in a successful home selling experience.

Ready to Sell
Your Condo?

Hiring the wrong agent costs you time and money.

Why hire an acquaintance or agent without a plan to sell your most prized possession?

You deserve to work with someone who understands YOUR market and simplifies the selling process so your condo doesn't stay on the market for months with multiple price reductions and low ball offers that cost you thousands of dollars.

Press the button below and schedule an appointment today. It's never too soon to start planning. Our proven 3-step selling plan helps you sell for more, save time, and worry less.

Schedule an Appointment

ARE YOU WORRIED ABOUT "LEAVING MONEY ON THE TABLE" WHEN SELLING YOUR CONDO?

What your condo needs is exposure - When you work with us to sell, your condo will be seen, discovered, and understood in the marketplace.

With the proven Maven Marketing Plan, your condo will have high-definition photography, interactive 3D tours, professional short films, StoryBrand copywriting, targeted social media advertising, and more.

When you match the right images with the right words and showcase them to the right people in the right places, more qualified buyers discover your condo and you sell for more faster.

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The Maven Marketing Plan

All information provided deemed reliable, but is not guaranteed and is subject to change.

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