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Buyers Purchased 8 Distressed Condo Units In Coral Gables In Year 2019

No Distressed Coral Gables Condos Listed For Sale At Peak Of South Florida Winter Buying Season

(This Report Is Powered By Brickell Ventures LP)

DOWNTOWN MIAMI (March 14, 2020) - No distressed condo units - both shortsales and real estate owned (REO) by lenders - are formally listed for sale in the city of Coral Gables in the South Florida county of Miami-Dade, according to a new report from Condo Vultures® Realty LLC.

Based on distressed condo sales of less than one unit monthly in the entire 12 months of 2019, Coral Gables now has a zero-month supply of REO and shortsale units available for purchase in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach at the peak of the Winter Buying Season, according to the report based on data from the Southeast Florida MLS Matrix.

A balanced market is generally considered to have about six months of supply. More months of condo supply listed for sale suggests a buyer’s advantage and less months typically indicates a seller’s advantage in the market.

It is worth noting that one distressed condo unit is currently under contract - or pending - and waiting to transact in Coral Gables.

On the REO front, no Coral Gables REO condos are currently listed for sale, according to the data compiled by CondoVulturesRealty.com.

In the 12 months of 2019, the average transaction price of a Coral Gables REO condo was about $284,167 or about $264 per square foot.

In the four quarters of 2019, the lenders that were able to unload their REO units needed about 133 days to transact a Coral Gables condo listed for sale, according to the statistics.

On the shortsale front, zero Coral Gables shortsale condos are currently listed for sale, according to the data compiled by CondoVulturesRealty.com.

In the 12 months of 2019, no shortsale condos transacted in Coral Gables.

CondoVulturesRealty.com is a licensed Florida brokerage that specializes in assisting buyers and tenants in value-oriented condo acquisitions and leases in the tricounty region of Miami-Dade, Broward and Palm Beach.