With South Florida single-family prices surging to the point of no longer being attainable for most buyers, condominiums offer the strongest value proposition. A new report shows that condo buyers are beginning to act on this short-term window before prices inevitably rise.
Condo sales in the region jumped by 20% between the second quarter and third quarter, according to the RelatedISG Miami Q3 Report, as cited by the Miami Herald. Yet, average condo sale prices remained flat during the summer while single-family prices skyrocketed as inventory remains low and new construction faces a multi-year shortage.
“Single-family homes are closing at the listing price or above,” RelatedISG President Craig Studnicky said while revealing the findings of the third-quarter report. “That’s going to influence buyers to look at condos.”
Such buyers demand modern, move-in ready residences at prices they consider to be fair. That’s where Coral Gables luxury condo building Merrick Manor comes in.
When comparing Merrick Manor’s well-appointed, brand-new condominiums to nearby single-family homes that need significant renovations and constant upkeep, the choice is easy.
Merrick Manor is the only brand-new, move-in ready condominium offering in Coral Gables. 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.