By Guest Contributor Charlette Seidel, Co-Manager, Coldwell Banker Residential Real Estate Coral Gables office.
Our weather is exceptional and so is our real estate market! November brought an increase in activity over October and the activity has continued into December. The Miami market again posted the highest sales increases of any major metro area for condominiums and all single family home markets in Florida.
Strong demand from international buyers is fueling robust sales activity in Miami. Short sales and foreclosures continue to have an impact on the market; short sales have a higher rate of approval currently in a faster time frame. The key is to have a great negotiator on the Seller’s side.
The Coral Gables market has 275 listings currently, 71 pending sales that are not closed and 16 closed in November. Most likely we will see more homes hit the market in January 2012.