During the first quarter of 2016 there were 12 waterfront homes sold in Coral Gables. These sold for an average of $4,600,000. The numbers this year are down slightly from the first quarter of 2015 where there were 20 waterfront closed sales in Coral Gables which averaged $5,100,000. The good news is that values seem to be holding for waterfront property. In 2016 the average price per square foot has come in at $738.00 where during the same time period in 2015 it was $721.00/square foot.
I believe this data is similar to what we are seeing across the rest of the luxury market in Coral Gables. There are fewer ultra-luxury sales thanks to the strong dollar and less buyers in the market. However these conditions have not yet had a negative impact on values.
If you are considering selling your Coral Gables home and would like to know how we sell our listings fast and for the highest price possible, please contact us today. We can be reached anytime at 305-342-1623 or by sending us a message here.