Waterfront homes in Coral Gables sell on average for $3,900,000 or $639.00/square foot (this includes homes in both gated and non-gated communities). These high prices are not within the budget for many buyers who are interested in waterfront properties. A lot of them end up buying a home on a dry lot and looking for dock space elsewhere in Miami. However, there is a place in Coral Gables where waterfront homes sell $1,000,000’s below the average price. Where can you find them? In the gated community of Gables-By-The-Sea. Gables-By-The-Sea is located in the south-east corner of Coral Gables (by Gulliver Academy). Here, prices for waterfront homes start at just $1,595,000.
Why are they less expensive? It’s all about location. Although Gables By The Sea is a wonderful gated community, its southern location is not as desirable to some buyers. In addition, a majority of the homes here were built in the 1970’s and 1980’s and haven’t been completely updated in quite some time.
Because the inventory of waterfront property will always be limited in Coral Gables and considering the current prices of homes in Gables By The Sea compared to the rest of Coral Gables, I believe that buying a home here is a great investment.
If you are interested in learning more about the current homes for sale in Gables By The Sea, please contact us here.
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.