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Coral Gables Has Record Breaking Year In 2013!

January 8th, 2014 Written By

The 2013 Coral Gables real estate figures are in!  I waited a few days to let the last few closed sales trickle in but I am thrilled to report that Coral Gables had a record breaking year with 629 homes sold and an incredible $690,120,602 worth of volume.  Both of these figures exceed any other year on record in Coral Gables.  In fact, the number of homes sold in 2013 was twice the amount sold in 2007.

The breakdown of closed sales in Coral Gables is as follows:

Coral Gables Homes Sold

There is great news for Coral Gables residents, the average sale price per square foot increased from $303.00 in 2012 up to $337.00 in 2013.

Average Sale Price Per Square Foot

Some other interesting highlights from the closed sales in 2013:

  • The number of waterfront homes sold was down.
  • Although the overall number of homes sold in Coral Gables increased during 2013, the number of ultra-luxury homes (over $3,000,000) sold remained the same.
  • We saw the largest increase in value for homes that sold under $1,000,000.  This price range saw a rise in “sale price/sq. ft.” from $248.00 in 2012 to $286.00 in 2013.
  • We saw the second largest increase in value for homes priced between $1,000,000 to $2,000,000.  This segment increased from $331.00 in 2012 to $358.00 in 2013.

Sellers will take advantage of the rising prices and we can expect to see a large influx of homes hitting the market in 2014.  Stay tuned to the blog for the latest news on the Coral Gables real estate market!

Our team knows the Coral Gables real estate market and tracks the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Visit Today’s News From Our Other Miami Real Estate Blogs:
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