A Comprehensive analysis of Coral Gables Luxury Homes – Quarter 2, 2015
The Comprehensive Analysis of luxury homes in Coral Gables
What is the status of Coral Gables Luxury Homes in Q1 and Q2 of 2015
♦ Average prices ♦ Price changes ♦ Inventory levels
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This comprehensive analysis outlines the Coral Gables luxury real estate market. This research focuses on the Coral Gables luxury homes and it includes only those truly luxury properties with a sales price of $2M or more.
When we speak about Coral Gables we make a distinction between East and West Coral Gables. As a distinction between the two, we use the US1. Everything North or West of the US1 is West Gables whereas everything South or East of the US1 is East Coral Gables. Properties in East Coral Gables are generally speaking more exclusive and high-end, given the high amount of gated communities and waterfront homes in this area.
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Average sales prices per Sq.Ft for luxury homes in Coral Gables – Q1 and Q2 2015
West Coral Gables
The West Coral Gables luxury market saw prices stay at an equal level compared to 2014. The average sales price declined with $1 per Sq.Ft. Waterfront properties slightly declined in price (only 1 waterfront property sold in the last 6 months) while non-waterfront properties slightly increased in price.
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East Coral Gables
Just like in West Coral Gables, the Eastern part of Coral Gables showed slightly declining prices in the first half year of 2015. While waterfront properties increased in price, the non-waterfront properties declined in price compared to the previous year.
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Months of inventory for luxury homes in Coral Gables
For the months of inventory of Coral Gables luxury real estate we combined East and West Coral Gables.
The luxury property market always sees higher inventory levels than the more affordable properties therefore the number of months indicated here might be higher than what you normally see in our analytical reports. The Coral Gables luxury market shows relatively low months of inventory for the luxury market and is approaching a neutral market. This is a favorable for sellers.
Looking at the inventory levels of luxury properties elsewhere in Miami, Coral Gables shows a lower level of inventory for luxury properties (see graph below in section “Comparing the Coral Gables Luxury Real Estate Market“).
Closed sales and Pending sales of Coral Gables Luxury Homes in Q2 2015
In the overview below you can see which Coral Gables luxury properties sold and which ones where under pending sales in Q2 2015
Comparing the Coral Gables Luxury Real Estate Market with Luxury Real Estate in other areas
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