• Home
    • Blog
    • 5 Things You Should Know About Q3 2019 Coral Gables Condo Sales

    5 Things You Should Know About Q3 2019 Coral Gables Condo Sales

    The third quarter of 2019 was interesting for the Coral Gables condo market.  The total number of units sold was slightly lower than the same period one year prior.  There were 77 Coral Gables condos sold between July 1 and September 30.  Here are the five things you need to know about the Coral Gables condo market during Q3:

    1.  The total sales for the third quarter is $38,081,663.  That amount is a 19% decrease from the Q3 2018 total sales of $47,078,985.  One explanation for this decrease is that during the third quarter of last year 10% of the units sold were new construction.  Being new construction the value generated was greater than that of older unit resales.  The total sales for new construction condos sold in Q3 2018 was $13,951,668.  That accounts for 30% of the total sales for the period.  During Q3 2019, new construction unit sales (built in the same period as the units sold in 2018) accounted for only 13% of the total sales.

    2.  48% of all transactions were cash purchases.

    3.  The average days on market for Coral Gables condos sold during the third quarter was 132.  That is 16 days faster than the average days on market for Coral Gables condos during Q3 2018.

    4.  The average sale price to original list price ratio of Coral Gables condos sold during the third quarter was 93%.

    5.  The total sales volume of 77 was down 4% year on year for the same period as 2018.

    If you would like a more detailed report of Coral Gables condos sold during the third quarter of 2019 please reach out to Adrian Foley at adrian@adrianfoley.com.  Below is a Compass Collection created by Adrian.  The collection shows all of the Q3 Coral Gables condo sales. If you would like to learn more about the Coral Gables real estate market, check out the 5 things you need to know about Coral Gables home sales in Q3 2019.

     

    Trackback from your site.

    Adrian Foley

    Adrian Foley has lived all over the world—Taiwan, the Philippines, Argentina, New York, California—and has now rooted his professional life in South Florida in partnership with Compass. With 7 years of hands-on industry experience, Adrian holds a B.A. in History and Spanish from College of the Holy Cross, and a J.D. from Santa Clara University School of Law, along with membership in the Florida Bar Association. Adrian, who is bilingual in English and Spanish, is able to combine this global perspective with his legal skills, underscored by the access to best-in-class technology and customer service that are central to Compass’ ethos, supporting clients in residential, commercial, and investment property transactions. Calling Miami home, Adrian is optimistic about continuing growth trends, backed by an expanding tech center, that draw new residents, visitors, and interests to the region. With an approach built on professionalism, service, and technology, Adrian is a committed partner to buyers and sellers, equally giving his all towards the purchase of a first home, the sale of a long-time family home, searching for the perfect second home, or on the commercial and investment side of the transaction. Adrian’s particular area of focus runs from Miami Beach to Palmetto Bay, and feels he is privileged to have the opportunity to support clients in such important life events. In his personal time, Adrian enjoys sports, including cycling and running, boating, and volunteering.

    Leave a Reply