Is South Gables, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South Gables has remained a Seller's Market.
Key Takeaway
South Gables is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Gables, FL
How much do homes in South Gables, FL cost?
Median Sold Price
$1,550,000
$818/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Gables have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in South Gables was $1,550,000 in April 2024, up 7.5% from last year, and the median price per square foot was $818.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $279.5K | $282.4K | +1.1% |
| 2 Bedrooms | $395K | $415K | +5.1% |
| 3 Bedrooms | $1.4M | $1.6M | +10.0% |
| 4 Bedrooms | $2.3M | $2.3M | +2.5% |
| 5+ Bedrooms | $4.4M | $2.7M | -38.2% |
Summary: South Gables housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 38.2%.
Median Sold Price Compared To Nearby Neighborhoods
| West Cutler Area | $1.8M | $2.8M | +48.8% |
| High Pines | $1.6M | $1.8M | +11.5% |
| Coral Gables Riviera | $1.4M | $1.5M | +9.5% |
| South Gables | $1.4M | $1.5M | +7.5% |
| Granada | $1.4M | $1.5M | +5.8% |
Housing Supply in South Gables, FL
How many homes are available in South Gables, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 41 | -4.7% |
Summary: The South Gables real estate market had 41 homes for sale in April 2024, a 4.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 12 | 11 | -8.3% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The South Gables housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Gables, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in South Gables in April 2024, up by 28.6% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.
Days on Market for South Gables, FL
How long does it take to sell a home in South Gables, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 85 Days | 59 Days | -30.6% |
Summary: Homes in South Gables had an average of 59 days on market in Apr 2024, down by 30.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Gables are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in South Gables; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.