top of page

The latest real estate trends in Miami FL (Coral Gables area)

Barry Jilin

Barry Jilin

About author

Highly accomplished, results-proven financial transactions professional with 18 years of experience elevating company performance by capturing new business opportunities and minimizing risk.

May 5, 2023

Miami, Florida, (Coral Gable) is known for its vibrant real estate market, which attracts buyers and investors from around the world.


Here are some insights into the latest real estate trends in Miami, specifically focusing on the suburb of Coral Gables:



Coral Gable city Boundaries

Home Prices:

Coral Gables, a prestigious and affluent neighborhood in Miami, has seen a steady increase in home prices in recent years. The demand for homes in this desirable area has driven up property values. As of the latest data, the median home price in Coral Gables is around $1.2 million. However, it's worth noting that prices can vary significantly depending on factors such as property size, location, and amenities.

Inventory Levels:

The inventory of available homes in Coral Gables has experienced some fluctuations. While the market has generally favored sellers in recent years, providing limited inventory, there has been a slight increase in available homes for sale. This can be attributed to new construction projects and a more balanced market. However, it is important to consult up-to-date data or work with a local real estate agent for precise inventory information.

Buyer/Seller Activity:

Coral Gables continues to attract both domestic and international buyers. The city's reputation for luxury living, beautiful architecture, and excellent schools contributes to its appeal. The market in Coral Gables has seen a mix of local buyers looking to upgrade or downsize as well as international investors seeking stable investment opportunities. However, with the evolving market conditions, it is essential to monitor current buyer and seller activity and consult professionals for accurate insights.

Luxury Market:

Coral Gables is known for its luxury properties, and the high-end market segment has been particularly active. Buyers looking for upscale homes with premium features and exclusive amenities can find a range of options in this suburb. Luxury properties often command higher prices and may have longer marketing times as they cater to a specific niche of buyers.

Shift towards Condos:

While single-family homes remain highly sought-after in Coral Gables, there has been a noticeable shift towards condominium living. The allure of low-maintenance living, amenities, and attractive locations have made condos a popular choice for buyers. This trend has led to increased condo construction and availability in the market.

Strong Rental Market:

Miami, including Coral Gables, has a strong rental market. The demand for rental properties remains high due to factors such as the city's thriving job market, the presence of universities, and the appeal of the coastal lifestyle. Investors can find opportunities to purchase properties for rental income with a steady stream of tenants looking for housing options.

Population in 2019: 49,700 (100% urban, 0% rural).
Population change since 2000: +17.6%
Males: 23,680   (47.6%) Females: 26,020   (52.4%)
Typical Home Values: $1,244,808
1-year Value Change: +10.5%


It's important to note that real estate trends can change over time, influenced by factors such as economic conditions, market fluctuations, and unforeseen events. To gain the most accurate and up-to-date insights, it is recommended to consult local real estate professionals who have in-depth knowledge of the Miami and Coral Gables market


It's important to note that real estate trends can change over time, influenced by factors such as economic conditions, market fluctuations, and unforeseen events. To gain the most accurate and up-to-date insights, it is recommended to consult local real estate professionals who have in-depth knowledge of the Miami and Coral Gables markets. They can provide tailored advice based on your specific interests and goals in the real estate market.

Florida Mortgage, One Republic Mortgage

Tags:

Related Articles

Gabriel Huerta

Navigating Mortgage Loan Modifications and Alternatives

Oct 26, 2023

Mark Kelner

Integrating Environmental Sustainability in Mortgages

Oct 25, 2023

Gabriel Huerta

The Pros and Cons of Adjustable-Rate Mortgages (ARMs)

Oct 23, 2023

bottom of page