Video: Real Estate Community Tour for Coconut Grove, FL
See Real estate community tour for Coconut Grove, FL
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of April. The number of active listings was down 15% from one year earlier, and down 5% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 950-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up more than 150%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 720-thousand dollars. The number of units sold decreased 43% year-over-year, and increased 13% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.