Coral Gables Waterfront Home Values Are Stagnant In 2015

October 16th, 2015 Written By

Coral Gables Homes 2015

 

For another year in a row Coral Gables has seen an overall increase in value of single family homes.  However, when you break the numbers down into waterfront and non-waterfront, you will see that the non-waterfront segment has increased in price by 8% while waterfront homes have actually decreased in value by 2%. I think these figure are consistent with the state of the South Florida market as a whole. Thanks to fewer foreign buyers, we are seeing a slowdown in the number of ultra-luxury home sales and that lack of activity is impacting values.

That being said, the waterfront market is still very stable and is selling nearly 35% higher than waterfront homes sold 5 years ago. I would say that the market is in a much needed correction phase right now and is simply trying to catch its breath.

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

 

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