Demand Dwindles For Luxury Condos In Coral Gables

May 9th, 2013 Written By

Gables Club, Coconut Grove

As I reported earlier this year, the luxury condo market in Coral Gables is struggling.  Although there is plenty of inventory in this segment of the market, there has only been 1 closed condo sale over $1,000,000 in 2013.  

With all of the high-end condos that have gone up on Brickell (and the rest of  Miami), it makes you wonder whether buyers are being lured away from Coral Gables to the newer buildings that have all the bells and whistles.  

What’s the difference between the two markets?  A $1,500,000 unit in The Gables Club (Coral Gables’ premiere luxury condo building) buys you 3 bedrooms, 3 baths with 2,950 square feet of living space and water views.  Whereas a $1,500,000 condo in The Jade or Icon Brickell buys you just 1,900 square feet of living space with water views.  

Although Gables condos offer larger square footage for the price, the newer condos on Brickell tend to offer more amenities that some buyers may be drawn to.

If you are interested in working with a Realtor who specializes in the Coral Gables real estate market, please contact me at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

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Don’t Miss Today’s News From Our Other Real Estate Blogs:

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