Coral Gables is a city in Miami-Dade County and one of Miami’s most sought after residential areas. The Gables is a very extensive neighborhood and home prices range considerably depending on the community you are located in. For this very reason our different blog posts analyze the individual subsections and communities that Coral Gables has to offer, in order to give you a better overview of the market.
The Coral Gables real estate market is dominated by single-family homes but also offers a great amount of condos and townhomes.
The Gables’ attraction to (younger) families is mainly due to the strong school district and the safety in the area. Coral Gables’ core is concentrated around the Miracle Mile where residences can enjoy the many shops, cozy restaurants and bars. Other points of attraction are the several golf courses like the Riviera Country Club, The Biltmore Golf Course, Granada Golf Club and the Coral Gables Country Club as well as family friendly parks like Jaycee Park, the Fairchild Tropical Botanic Garden and Montgomery Botanical Center.
Coral Gables is centrally located within Miami and residents are within close proximity of their Coral Gables based offices (The Gables is home to a great amount of international companies and offices), the financial district of Brickell or the entertainment of Miami Beach.
Single Family Homes in Coral Gables
Coral Gables offers a great variation in single-family homes, from smaller Spanish Colonial homes to multimillion-dollar oceanfront mansions in gated communities.
The Gables can be divided into two main sub communities; Coral Gables west of the US1 and Coral Gables East of the US1. Both areas west and east of the US1 offer waterfront homes. The Eastern part is closer to the bay or the open water and therefore very exclusive and sought-after. The waterfront properties west of the US1 are further from the open water and therefore less in demand with boaters than the properties with direct access to the open bay.
This South-East part is home to a great amount of waterfront and gated communities. This Miami neighborhood arguably offers one of the most exclusive gated communities in Miami and buyers are eager to find a home in the exclusive enclaves. Given the safety, the exclusivity and the scarcity of gated communities the demand for these properties is high and the turnover rates are low. The most sought-after gated communities in the Gables are Cocoplum, Gables Estates, Gables by the Sea, Sunrise Harbour and Snapper Creek Lakes.
While most luxury homes in the Eastern part are located in waterfront and gated communities the western part offers some great luxurious mansions around the Biltmore Golf Course and the Riviera Golf Course
The streets of the western part are tree filled and homes can often be identified by the signature Spanish colonial style. In case you have a more contemporary taste, you have not to worry. Like elsewhere in Miami, this part of town is also seeing the trend of investors buying land or tear-down properties to rebuild brand new and modern residences.
Condos in Coral Gables
Luxury Condos are scarce. There are many smaller condominiums but newer, luxury condos are hard to find. In the last years some new projects were announced (Giralda Place, Biltmore Parc, Laguna House and the Collection Reidences) but there is still a severe lack.
Townhomes in Coral Gables
Townhomes are a hot topic in Miami. The demand for townhomes in Miami is enormous and the market seems to finally be responding to this ever-increasing demand with new townhome projects. The newest of the newest in this continuing townhome trend seems to be the rise of the luxury townhomes in Coral Gables.
Coral Gables in particular is seeing a new supply of luxury townhomes that resemble a lot the NYC or London style of townhomes. These brand new townhomes fill a gap in a market in which people do not want to live in a condo but neither want a large single family home.
More townhomes will be delivered in the future as the market rapidly absorbed the current supply. Since the Gables doesn’t have much new residential construction underway, this city is a great location for new construction.
The Coral Gables Neighborhood blogs will provide you with different analytics and neighborhood information that is very useful for both people looking for Coral Gables homes for sale as well as people who would like to sell their Coral Gables Property
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