In January, the Coral Gables real estate market showed a steady flow of activity, with home sales remaining consistent compared to the previous month. A total of 27 single-family homes were sold, just one less than the 28 homes that changed hands in December, indicating a relatively stable market. Among these sales, three were waterfront properties, reflecting a continued demand for homes with access to scenic water views.
When looking at price trends, the average price per square foot for non-waterfront homes was $854.30. This figure highlights the ongoing value of single-family homes in the area, though the prices may vary depending on specific location, size, and condition of each property. For waterfront homes, the price per square foot saw a notable increase, averaging $1,415.72. This price difference underscores the premium buyers are willing to pay for the unique benefits and views associated with waterfront living, a trend that continues to show the strong demand in this niche segment of the market.
Overall, January’s home sales reflect a stable market environment with steady prices, though the distinction between non-waterfront and waterfront properties remains significant in determining overall values. The slight decrease in total sales from December to January could simply be attributed to the natural ebb and flow of the market after the holiday season, and the outlook remains positive as the year progresses.
Stay tuned to see how the trends change for the month of February!
