Isabelle
Alba
Dear neighbors,
Welcome to our quarterly real estate market report.
The 2023 Coral Gables single-family home market remained strong with a $1,682,500 median sold price. Available inventory decreased by 22% compared with inventory from the previous year.
Cash transactions dominated the market with a 51% market share.
Our market study demonstrates the high level of Coral Gables’ desirability and consequently high real estate activity.
Contact us for a confidential meeting.
We will discuss your property’s market value.
Our knowledge of the Coral Gables real estate market and our unique marketing strategy will get the results along with the service you deserve.
Warm regards,
Isabelle, Alba and Ilaria
CORAL GABLES SINGLE-FAMILY HOME MARKET THROUGHOUT THE YEARS
2023 SINGLE-FAMILY HOME MARKET FACTS
$36,000,000 was the highest sale. This waterfront / open bay home is located at 140 Arvida Parkway in Gables Estates. It was built in 1963 and offers 11,478 Sq. Ft. of living space on a 67,000 Sq. Ft. lot. $3,136 / Sq. Ft. was the sold price. The sale was not a cash transaction.
$360,000 was the lowest sale. This home is located at 113 Frow Ave. It was built in 1941 and offers 1,708 Sq. Ft. of living space on a 5,000 Sq. Ft. lot. $211 / Sq. Ft. was the sold price. The sale was not a cash transaction.
$1,982,500 was the median Coral Gables sold price. At that price point, you can own a house with about 2,164 Sq. Ft. of living space on a large lot (over 10,000 Sq. Ft.).
CORAL GABLES SINGLE-FAMILY HOME MARKET - FOR SALE VERSUS SOLD PER PRICE POINT
The Gables market is a strong seller’s market up to $10M price point. Above the $10M market price point, the available inventory is larger.
South Coral Gables (Zip codes 33133, 33146, 33156, and 33143) sales volume represented 59% of the total Coral Gables sales volume. The median sold price was $2,200,000, which is 31% higher than the Coral Gables median sold price. Cash transactions represent 54% of all sales in Coral Gables.
It is a seller’s market for properties priced under $10M. The $10M+ price segment offers a large inventory of gorgeous homes.
SOUTH CORAL GABLES GATED COMMUNITIES 2023 SALES ACTIVITY
Remarks: Old Cutler Bay, Journey’s End, and Hammock Oaks did not offer any MLS recorded sales in 2023