Falling Softly, Softly Falling
September 10th, 2008 categories: Coconut Grove Market Conditions
I can’t remember where I’ve heard this phrase before, but when I saw this month’s Coconut Grove real estate statistics it came to mind.
Last month marked the 6th consecutive month that the number of homes for sale in Coconut Grove have fallen. This trend has major implications. In February of 2008 we had 1,007 properties for sale, and in August of 2008 we had only 910. That is 100 LESS homes currently for sale in the area.
Why is this important?
- Experts say that 3 consecutive months of falling inventory indicates a real estate market in recovery (we now have 6!)
- If your house is for sale, you now have a 10% higher chance of selling than you did in February (generally speaking)
- With the number of homes on the market decreasing, the good homes will be snapped up faster than before.
Click here to read more about the status of our Coconut Grove real estate market.
Want to receive my blog posts directly to your inbox? Click here to subscribe to my blog.
