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\nThe first quarter this year has shown the trend of inventory continuing to increase over what we had been seeing the past year. I am currently holding about 23 listings and, on average, typically carry about 15 or so. This is closely in line with what we are seeing in the market of $1-$2 million homes in area 41, which is predominantly made of Coconut Grove and Coral Gables. My listings represent a 35% increase over what I have carried for the last couple of years, and the graph that you see above shows a 40% increase in the past year. The number of sales is only up 3% which definitely gives us an unbalanced number of closings compared to inventory. The months of inventory are up 33% from the first quarter of 2015. The average price per square foot is up slightly at 3%, but days on market is also up 32% from a year ago. It went from 3 months to closer to 5 months. That honestly feels like a shorter time than we are typically seeing these days. We are selling, but it is a slower process and buyers are very happy to take back some power.<\/p>\n
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