Market Trends: 5/20/2012
Coral Gables
Market Snapshot
Total Properties Listed:
565
Month-Over-Month Change: -5.68%
Average List Price:
$1,907,290
Month-Over-Month Change: +.7%
Median List Price:
$895,000
Month-Over-Month Change: N/A
Typical Property
Single-Family Home
3.72 Bedrooms
3.66 Baths
$1,907,290 Average List Price
$412/SqFt Average Price per SqFt.
Average Price by Bedrooms:
1 Bedroom:
$210,519
2 Bedrooms:
$466,803
3 Bedrooms:
$833,412
4 Bedrooms:
$1,411,569
5 Bedrooms:
$2,802,357
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Coral Gables, FL Real Estate:
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Coral Gables Real Estate
About Coral Gables
Coral Gables is a city in Miami-Dade County, Florida, southwest of Downtown Miami, in the United States. The city is home to the University of Miami.
Coral Gables is known as a pedestrian-friendly destination. Located four miles from Miami International Airport, the "City Beautiful" has around 140 dining establishments and gourmet shops, and many notable international retailers. Among the landmarks in Coral Gables are the Venetian Pool, Douglas Entrance, the Biltmore Hotel, and many fine residences. There are also nine properties listed on the National Register of Historic Places, including Coral Gables Merrick House, Venetian Pool and Coral Gables City Hall, as well as over 1300 locally designated properties
Coral Gables was one of the first planned communities, and prefigured the development of the gated community and the homeowners association. It is famous for its strict zoning regulations. The city was developed by George Edgar Merrick during the Florida land boom of the 1920s. The city's architecture is almost entirely Mediterranean Revival Style. By 1926, the city covered 10,000 acres (40 km2), had netted $150 million in sales with over $100 million spent on development. In 1925, roughly simultaneous to the founding of Coral Gables, the city was selected as the home to the University of Miami, which was constructed that year on 240 acres (0.97 km2) of land just west of U.S. Route 1, approximately two miles south of downtown Coral Gables.
Today, Coral Gables is home to approximately 155 multinationals and 26 consulates and trade offices. It is also known as the Fine Dining Capital of South Florida and has the highest concentration of live theater in Miami-Dade County. Growth in the commercial sector has brought a wealth of new activities for residents, including nighttime entertainment, live music, casual and fine dining, and new retail options. It has also helped maintain low property taxes. At the same time, the residential areas have remained protected from commercial intrusion.
The City supports both the residential and business sectors with excellent City services, having attained the highest possible standards in every field. In fact, Coral Gables is the only City in the State of Florida and one of only two cities nationwide to have a Class 1 Fire Department, a fully-accredited Police Department, and the highest awarded Building and Zoning Department rating. In addition, Coral Gables has been named a "Tree City USA" for 26 consecutive years; it has an award-winning Communications Division and offers one of the most comprehensive Parks and Recreation programs in the state.
"The Building of Coral Gables has not been a thing of the moment, but a wonderful monument that will as solidly endure as does the everlasting coral upon which it is founded." - George Merrick, 1926
Coral Gables Neighborhoods