Great Miami Homes

🏡 Market Update 📊

🗓️ January 2024

📍 Miami, FL 33133

Hi friends! Paula Barrera-Scheer, REALTOR® from BHHS EWM Realty here to provide you with the latest market trends in Miami - starting with her own neighborhood of Coconut Grove. Let’s dive in! 💼

📈 The Months Supply of Inventory currently stands at 6.61 months. This indicates a healthy balance between supply and demand in the market. Over the past 12 months, we have seen a 15% increase in the months of supply in the Coconut Grove neighborhood (33133 zip code). This still only barely brings us to a stable market (for the last 3 years it has been a seller’s market - it is now entering a neutral, stable market... but barely).

The List to Sold Price percentage is an impressive 95.4%. This means that sellers are achieving close to their asking prices, demonstrating the market’s strength and competitiveness. 💪

⌛️ The median days on market is 54, indicating a well-balanced pace. This gives both buyers and sellers a reasonable timeframe to make informed decisions and negotiate the best possible deals. ⏳

💲 Looking at the numbers, the median sold price in Coconut Grove is currently $1,985,000. This reflects the high desirability of properties in our vibrant city. 🌴

Whether you are buying or selling, these market trends showcase the opportunities that await you in Miami’s real estate market. As a trusted REALTOR®, Paula Barrera-Scheer is here to guide you through every step of the process. 🤝

Reach out to discuss your real estate goals and take advantage of the current market conditions - it’s not a crazy as you may think! If you are planning to make a move in the spring, now is the time to plan, plan, plan!

#33133

Bet you didn’t know Elsa’s Ice Castle was for sale! It had multiple offers on it, but with my secret strategies, my little buyer was able to close the deal (and with a 6.5% interest rate)!

over a in at the Young Patronesses of the Opera Spring Event

Just Listed For Rent in Palmetto Bay! This gorgeous, newly remodeled 4/2 is in very close proximity to Southwood Middle school and features a home office and enviable outdoor grilling area/new pool with submerged lounging bench! $7,499/m

I want to have three legs and twelve fingers. -Mia

This view! 🤩 One of my favorite things about selling real estate is giving my properties a makeover. In this case that meant changing toilet seats (clean but weird yellow mother of Pearl 🤔) and rearranging furniture, staging closets, etc. This tower, is elegant and close to downtown . This is Penthouse 1207 it’s going for $749,000. For this view and level of luxury - it’s a deal!

The of my was an absolute delight! What a great board and what beautiful views at Virginia Key!

🚨 🏡 post 🚨 as a buyer or renter, does it feel like your search is going nowhere? That may be changing soon. If you have given up on buying a home, get back on the carousel - your time is coming. I have a gut feeling (having been through several cycles) that the market has peaked and is beginning to stabilize… perhaps even *gasp* “correct”. Industry euphemisms aside, I don’t think the Miami market will crash, but I do think we are starting to see longer days on market and more price reductions as interest rates and world economic uncertainties (as well as the discouraging level of competition) has buyers on the fence. As Warren Buffet says “When people get greedy, I get scared. When people get scared, I get greedy.” Also as far as the industry goes, here’s another Buffet quote “you only find out who’s swimming naked when the tide goes out”… when the market gets tough, agents like me, who have weathered every real estate storm, are here to help you. If you are thinking of buying in Miami, but gave up despite being qualified, let’s talk!

Swipe for pure love 🤩

A very Happy Mother’s Day was had! Being a mom is hard work and it’s nice to be appreciated and appreciate our moms! 💕

Took a to in this weekend. got to meet her biggest fan! below: pack snacks and a towel and have a shaded snack time 15 mins before showtime to grab a great seat in front of the stage. Another : stop by guest services to get stickers, a map, showtimes & a “first visit” button. We started the day counterclockwise and encountered short lines. The park is PERFECT for toddlers and young children. We did the dino ride first (you can ride with your child) then the grandpa pig pirate boat ride which had a nice amount of movement! Then my kiddo played a ton in the giant sand play area. After that, she was hot and it was the perfect time to hit the splash pad, which was just right for the kiddos. Multiple slides and lots of to jump up and down in. We then caught one of the shows and made the mistake of getting there late and sitting in the sun 😅. Older kids would be bored by the show but it was so cute for toddlers especially Peppa obsessed toddlers! We frequently refilled our water cooler and were very happy we brought the cooler and snacks because the cafe line was always long. Mrs. Rabbit’s hot air balloon ride and Mr. Bull’s drop ride were fun and toddler friendly. There was a height requirement for Daddy Pig’s roller coaster, but recommend you still make the line to see the inside of Peppa’s house. The whole experience was magical and picture perfect. 10/10 highly recommend!

Mia and her little bestie at the live these tiny little people