Coral Gables, Florida Reports Strong Seller's Market

Written by Posted On Sunday, 06 March 2005 16:00

Realtors say that the "City Beautiful" Coral Gables, Florida, is in a strong seller's market.

"Coral Gables is one of the most beautiful areas in Miami," says Realtor Cinthia Ane . "Dining, nightlife, architecture, world-famous Miracle Mile shopping, Merrick Park Mall, and just minutes to the Miami Airport, to downtown, Coconut Grove, and Miami Beach all make this location one that will always have a strong market."

Agrees Realtor Jennifer Wollmann , "Coral Gables is home to several historic landmarks including the Biltmore Hotel, and Venetian Pool, the University of Miami, art galleries and some of the nation's most celebrated restaurants. The extensive tree canopy, numerous golf courses, colorful Mediterranean-style homes, monthly Gallery Walk, and attractive downtown, make Coral Gables popular with local residents and tourists alike."

About the market, Wollmann explains, "Low interest rates and a tight inventory of single family homes, continues to make Coral Gables a seller's market. Single-family home prices range from $300,000 to several million dollars. Condominiums start in the mid $100,000's and go up to several million dollars.

"New condo construction within walking distance to the Coral Gables business and entertainment district has sparked interest from investors, and residents who want an urban lifestyle," she continues. "From Spanish-style homes built in the 1920's to new construction in gated communities, there is a home in Coral Gables to suit any taste. There are waterfront communities with their own yacht clubs as well as golf course communities, and traditional communities next to neighborhood parks."

Wollmann advises, "Both condominiums and single-family homes that are priced well are selling within three months from the time they are listed. Many, especially those properties on the water, are selling within a matter of days. Since January 1st of this year, 46 condos and 74 single family homes listed with Realtors, have closed. Since Coral Gables is also known as the Corporate Capital of the Americas, over 150 multinational corporations have their headquarters in the city and more are positioned to move here. The schools in Coral Gables, both public and private, are also a draw to those looking to move to South Florida."

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