The Gables Club had a very strong year during 2012 with an average selling price per square foot of $443.00 and 12 total sales. However we are almost finished wtih the first quarter of 2013 and there are no pending sales in the building and there have been no closed sales. In fact, the luxury condo market as a whole is struggling in Coral Gables. There have been 55 condo sales and the highest sale price is $705,000.
It will be interesting to see if this is just a temporary trend or if this segment of the market remains stagnant throughout the rest of the year. Whatever the outcome, I will keep you posted here on The Coral Gables Real Estate Vault.
If you are interested in buying or selling a historic home in Coral Gables, please feel free to call me directly at 305-342-1623 or send me a message here.
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