We already knew that available housing inventory was scarce – especially in Greater Miami. A new analysis by Calculated Risk shows that inventory is even lower than recent reports indicate.
Calculated Risk crunched the numbers behind the National Association of Realtors (NAR) August report, which cited a 13.4% year-over-year decline in active inventory. The NAR report includes some pending sales as inventory, however. Local MLS data, excluding those pending sales, shows that active inventory is actually down close to 25% year-over-year.
For anyone on the fence about buying versus renting, this report provides further evidence that the window to control your own destiny by purchasing your residence is closing rapidly. Between the lack of inventory and historically low interest rates that are projected to rise in the coming months, the time to act is now.
In Coral Gables, Merrick Manor buyers are acting quickly to purchase luxury residences at the building before it’s too late. Merrick Manor closed six residential sales and put another five transactions on their way to the closing table in the past 30 days.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit the Sales Gallery on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.