Even though I live, eat, and breathe real estate, there are many days where I wish I could drop everything and get out on my boat. Unfortunately the market is so busy lately that it seems my boating days are few and far between. I have found however that selling and showing homes on the water is the next best thing. With 56 sales so far this year (16% of the total Coral Gables sales), the waterfront market is very strong in Coral Gables. Sale prices in 2012 have ranged between $634,000 (went for land value) all the way up to $23,000,000.
Although the average price per square foot of these homes is $501.00 you have to keep in mind that this takes into consideration homes that offer canal-front views as well as bay-front views. As you can imagine there is quite a big difference in price point between these two waterfront locations. Even among strictly canal-front homes, you see very divergent prices depending on how far the homes are to the bay and whether there are any fixed bridges.
With over $30,000,000 in sales volume in 2011, The Riley Smith Group knows real estate. If you are interested in buying, selling, building or renting and are looking for realtors who specialize in Coral Gables, please feel free to contact us at 305.960.5317 or send us a note here.