11 of the 17 lots for sale in Coral Gables are priced abvoe $1,000,000. However, 99% of the lots sold this year have traded under $1,000,000 which tells us that the supply and demand are out of balance in this segment of the market. Much of what is currently for sale is located in a gated community or on the water which raises the average sale price per square foot from $50.00 to $80.00 and higher. Typically buyers who are interested in waterfront lots or lots in gated communities are end-users, and not investors.
The real estate market in Coral Gables is changing rapidly, call us today for a no pressure home valuation. We would be happy to sit down with you and go over all of the recent comparables. Please contact me at 305-342-1623 or send me a message here.
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