Coral Gables Waterfront Market Snapshot – March 2016

By
Real Estate Agent with ONE SOTHEBY'S INTERNATIONAL REALTY 3055685

The Coral Gables Waterfront property category is a more tailored universe of listings. Waterfront properties are inherently limited compared to inland options. In the past 6 months, there have been 17 transactions compared to 34 in the previous 6. This is a 50% slowdown in activity. However, in the last 6 months the average sold price was 7% higher. The average $ per sq. ft. growing by 1%. Exact figures show that in the last 6 months the average sold price was $4,341,324 and the average $ per sq. ft. was $668 in the single family home category.

Waterfront condos in Coral Gables are also showing slower transaction activity. In the last 6 months, there were 14 transactions while in the previous 6 there were 23. This marks a -39% change. The average sold price however has grown 61%. In fact, in the last 6 months the average was $1,289,135. The average $ per sq. ft. was $530 in the last 6 months, marking a 20% rise from the previous 6.

Currently, the average list price for Coral Gables waterfront homes is $5,092,000. Waterfront condos are averaging $870,000 in this market.

See all the data for this historic market here and reach out to learn more about the niche inventory in the Gables’ coveted waterfront. I have significant experience representing record breaking sales for my clients looking for classic Old Florida homes or more contemporary estates with open water access. Value is strong in this community which offers unbelievable views, deep water docking, and private club like amenities in gated communities. I look forward to guiding you!

 
Work with an experienced and trusted Coral Gables market specialist as you explore real estate opportunities in Miami’s most sought after communities. Call today for a buyer or seller consultation with the Jill Penman Group at 305.807.9199.  My expertise in local real estate and the global luxury market delivers extraordinary service that has firmly established my brand as an international luxury real estate leader for the past 13+ years. Read more about how I tirelessly chase the results that matter most to our clients and reach out to experience this for yourself.

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