Activity is so slow in Gables Estates this year that you could hear a pin drop. With just 3 homes sold since January 1st, the market is pretty much at a standstill in this prestigious gated community. The reason? A lack of inventory is the main contributor but we have also seen a slowdown in the number of ultra-luxury sales. In fact, there has not been a home sold over $5,000,000 in Coral Gables during the last 90 days. This is a problem for Gables Estates where homes start at $5,000,000 and go up to $15,000,000.
If you follow the blog you may remember that 2012 was a record setting year for Gables Estates with 12 sold homes and $100,000,000+ sold in volume.
Gables Estates is a private, 200 acre gated community situated on Biscayne Bay in Coral Gables. With homes that have an average sale price of $7,000,000, it is certainly one of Florida’s most exclusive addresses. Gables Estates was developed in the 1960′s by industrialist Arthur Vining Davis (Davis owned an estimated 1/8 of Dade County at the time).
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 .
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