Luxury Coral Gables building Merrick Manor just closed the sale of one of its last available one-bedrooms, as buyers increasingly recognize that they should act now while conditions are temporarily favorable.
Merrick Manor’s closing of Residence 424 underscores broader trends detailed in new reports from Realtor.com and U.S. News & World Report. In an article titled “Is This the Calm Before the Mortgage-Rate Storm? Here’s Why Homebuyers Should Hurry,” Realtor.com writer Andrea Riquier notes that would-be buyers would be shocked to know that total housing inventory is still more than 50% down from pre-pandemic levels. That keeps pressure on supply-and-demand levels and likely means pricing declines will not occur – especially in the Miami market.
Mortgage rates fell for the second straight week as the Federal Reserve hinted at the upcoming end of its rate hike program. This is creating a temporary window for quick-moving buyers to lock in lower rates. However, stricter lending standards in the wake of high-profile bank failures may keep rates from falling dramatically in the near term.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.” The building is surrounded by three championship golf courses and is just 20 minutes from Miami Beach.
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 new Sales Gallery in Suite 117 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.