Coral Gables Rental Market Frenzy

imagesWe all know the real estate market goes through many trends, constantly shifting. Some trends last months, other trends may span over several years. Right now in Coral Gables, I have seen that the rental market is hot. Many rentals aren’t lasting more than a day or two. It is important to know how the trends work to be able to get the best deal and strike when the iron is hot!

My extensive list of contacts allows me to reach many potential tenants when I send out my new listings, allowing me to get properties rented in even just a day or two. Already a week into May, I have rented three Coral Gables properties within one day: 4101 Toledo Street, 1216 Milan Ave, 2665 SW 37th Ave #1214.

After seeing the trends of the Coral Gables rental market, I can say that renters are not being picky. They are looking to rent all sorts of properties, not in any particular range or location. Property is selling at very high prices and bank financing has grown increasingly more difficult to secure so many people are turning to renting for their housing needs. This forces rental inventory to drop. Due to limited inventory, prices are skyrocketing in the rental market here in Coral Gables. Tighter supply of rental units will tend to command high rents.

Here are the current Coral Gables listings for rent:

 
$4,850 (Rental)
Beds: 4
Baths: 3 | 1
Sq. Ft.: 3,177
Type: Rental
 
$5,000 (Rental)
Beds: 4
Baths: 2
Sq. Ft.: 2,598
Type: Rental
 
$5,000 (Rental)
Beds: 3
Baths: 4
Sq. Ft.: 2,938
Type: Rental
 
$5,000 (Rental)
Beds: 3
Baths: 3
Sq. Ft.: 1,953
Type: Rental
 
$5,000 (Rental)
Beds: 3
Baths: 3
Sq. Ft.: 2,515
Type: Rental
 
$5,000 (Rental)
Beds: 4
Baths: 3
Sq. Ft.: 2,549
Type: Rental
 
$4,950 (Rental)
Beds: 3
Baths: 2
Sq. Ft.: 2,496
Type: Rental
 
$4,500 (Rental)
Beds: 4
Baths: 3
Sq. Ft.: 2,606
Type: Rental
 
$4,500 (Rental)
Beds: 4
Baths: 3
Sq. Ft.: 2,396
Type: Rental
 
$4,500 (Rental)
Beds: 3
Baths: 3
Sq. Ft.: 2,270
Type: Rental
 
© 2018 Miami Association of REALTORS®. All rights reserved.
IDX information is provided exclusively for consumers' personal, noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data is deemed reliable but is not guaranteed accurate.
Miami-JTHS data last updated at February 24, 2018 1:26 PM ET