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November 3, 2016
Doral Real Estate Market Sales Report – Q3 2016
Single Family Homes – For the third quarter of 2016 we have seen a decrease in the volume of sales when compared to 2015…interestingly we also saw an increase in pricing. The number of homes sold in Doral between June 1st and September 30th was only 47. When compared to the same period for 2015 when there were 63 homes sold. This is a decrease of 25% which is a significant drop in volume. On the flip side, the average sales price of a home in Doral INCREASED from $508,000 to $560,000 – This is an increase of 10.2% !! The average price per square foot of a home sale went from $214 to $220.
Condos & Townhomes – Like the Single family home market we also saw a decrease in sales volume and a sharp increase in sales price. For the 3rd Quarter of 2016 there were 141 Townhomes & Condos sold in Doral compared to 163 in Q3 of 2015. This was a decrease of 13.5%. The average sales price for those 141 Townhomes & Condos increased from $253,000 to $283,000 showing price increases of almost 12% year over year. The average price per square foot of a Townhome/Condo sale increased from $183 to $193.
Does this make sense!?!? You may be asking yourself why prices didn’t decrease if there are less people buying…lets analyze the reasons.
Keep in mind that these numbers only take into account homes that are being resold. This does NOT include any NEW developments in the Doral market. Sales activity in new development still continues at a healthy pace as Lennar has recently announced a new project called Park Central which consists of over 800 housing units including single family homes, condos and townhomes.
To view all homes for sale in Doral visit http://www.onemiamihomes.com/doral here you can find all properties available in each gated community and all new pre-construction projects in Doral. If you are looking to sell or purchase a home please call Diego Valencia at (954) 296-9189 or (305) 704-8849 for a consultation and specific market statistics in your neighborhood. We can provide you with recent sales in your community and give you a broker’s appraisal on the value of your home.