Miami Neighborhood Comparison – 2017 Quarter 1

    Miami Neighborhood Comparison - 2017 Quarter 1 - Miami, FL Real Estate - Prestige Realty GroupToday we will be taking a detailed look at the closed sales for Single Family Homes in Coconut Grove, Coral Gables, Pinecrest, and South Miami for 2017 – Quarter 1.

    This will help us gain a clear understanding of the current market conditions in each respective area and provide us an apples-to-apples comparison of some key market indicators as they relate to each neighborhood. Let’s dive right in.

    To start off, let’s go over some general market statistics for each of the four selected neighborhoods. All statistical data used in this publication was obtained from the Miami Association of Realtors – Multiple Listings Service, effective Thursday, 4/6/2017.


    Miami Neighborhood Comparison – 2017 Quarter 1

    Single Family Home Sales

    Miami Neighborhood Comparison - 2017 Quarter 1 Summary - Miami, FL Real Estate - Prestige Realty Group

    For 2017 – Quarter 1 (1/1/2017 thru 3/31/2017) there were 46, 118, 41, and 23 closed sales for Single Family Homes in Coconut Grove, Coral Gables, Pinecrest, and South Miami respectively. The average sale price for each of these four areas was $1,533,145.65, $1,490,295.17, $1,160,017.49, and $675,727.00 respectively.

    A great market indicator which provides an apples-to-apples comparison is the average price per square foot. As shown in the illustration above, for Coconut Grove this was $450.33, for Coral Gables this was $385.76, for Pinecrest this was $296.83, and for South Miami this was $286.71. Other important market indicators displayed in the illustration above are average discount from the original listing price which were 4.98%, 5.32%, 6.42%, and 4.63% for Coconut Grove, Coral Gables, Pinecrest, and South Miami respectively.

    The graphs below offer better visual representations of the data displayed in the illustration above.

    Total Homes Sold

    Total Homes Sold Graph - Miami, FL Real Estate - 2017 Quarter 1 - Coconut Grove, Coral Gables, Pinecrest, South Miami

    Average Sale Price

    Average Sale Price - 2017 Quarter 1 Single Family Homes - Miami, FL - Prestige Realty Group - Coconut Grove, Coral Gables, Pinecrest, South Miami

    Average Price/SF

    Average Price per Square Foot - Miami, FL Single Family Home Sales 2017 Quarter 1 - Prestige Realty Group - Coconut Grove, Coral Gables, Pinecrest, South Miami

    Average Discount

    Average Discount - Miami, FL Single Family Home Sales 2017 Quarter 1 - Real Estate - Prestige Realty Group - Coconut Grove, Coral Gables, Pinecrest, South Miami

    Average Days on Market

    Average Days on Market - 2017 Quarter 1 Single Family Home Sales - Miami, FL Real Estate - Prestige Realty Group - Coconut Grove, Coral Gables, Pinecrest, South Miami

    Be sure to check back again next week. We will be focusing on the 2017 Quarter 1 market summary in the coastal area of Miami including the Miami Beaches, Key Biscayne, and Barrier Islands.


    If you are curious as to what the current inventory is for any of these four great Miami neighborhoods check out our detailed Neighborhood Guides below. Our site always offers the most up-to-date, accurate info available for all your Miami residential real estate search needs.

    Coconut Grove – Neighborhood Guide

    Coral Gables – Neighborhood Guide

    Pinecrest – Neighborhood Guide

    South Miami – Neighborhood Guide


    If you are considering to purchase, sell, or rent in any of these neighborhoods contact us today! Our team of highly experienced and qualified agents have an acute understanding of the Miami real estate market and are equipped with all of the tools necessary to help you meet your personal residential housing needs. Don’t delay, contact us today and let us help you make your dream a reality!

    Contact Us Today at 786-615-2130 or Info@PrestigeRG.com

    Our office is conveniently located at 3330 Virginia St (Second Floor) Coconut Grove, Miami, FL 33133

    “Prestige Realty Group – Your trusted and dependable Miami Real Estate Experts.”

     

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