The Difference in Single Family Home Prices in Miami’s Top Three Residential Areas

Pinecrest, Coral Gables and Coconut Grove Home Prices compared

The Gables, The Grove and Pinecrest belong to Miami’s top 3 most preferred residential areas. They are known to be Miami’s safest areas and the areas with the best schools, which makes them extremely attractive for families with children.

Many parents see the location of their children’s school as one of the main reasons to pick one area over the other, after all who wants to sit 2 hours per day in a car to bring and pick them up from school. We decided to compare the three areas on home features and home prices.

As always we don’t want to generalize the entire market so we compared homes in the $1M-$1,5M market. This is generally speaking the most desired price range for young parents who are looking for single-family homes in the area. The numbers below are taken over the last 6 months of sales.

The Difference in Single Family Home Prices in Miami’s Top Three Residential Areas
The Difference in Single Family Home Prices in Miami’s Top Three Residential Areas

As can be seen from the tables above, Pinecrest homes for sale are the most affordable from all three areas with an average of $312 per SF in the $1M – $1,5M range. Next in line are Coral Gables homes for sale with an average of $393 per SF. Coconut Grove homes for sale top the list with an average sales price per SF of $425.

If we then compare the home and lot sizes we see that Pinecrest offers the largest homes on the most expansive lots. For the same amount of money, Pinecrest offers approximately 35% more home on a lot that is three times bigger than in Coral Gables or Coconut Grove. We also see that the Grove offers the smallest homes on the smallest lots.

For many buyers, Coral Gables and Coconut Grove are more centrally located. Pinecrest’s location is ideal for those working down South or those who have children that attend Gulliver or any other top rated school in the Pinecrest area.

A Typical Coral Gables Home that sold in each area in the last 6 months

This home on 4207 Braganza Ave was sold by the David Siddons Group. This 2,564 SF home on a 10,710 SF lot was sold for $536 per SF or $1,375,000

David Siddons is a top producing real estate agent who specializes in the Miami luxury real estate market. David is known for his market analytics, honesty and out-of-the-box marketing. 

David Siddons | david@siddonsgroup.com | +1.305.508.0899

FAQ

These are the most commonly asked Google Real Estate Related questions

1. What are the Current Best New Condos in Miami?

If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023

2. What is the best New Construction Condo in Fort Lauderdale?

In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.

3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami? 

Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!

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