Demand for homes in Coral Gables continues to outstrip supply, especially true in the $1.5million to $2 million range, now the average sale price. “That is the sweet spot,” says Patrick O’Connell, Senior Vice President at BHHS/EWM Realty. “There are a lot of buyers still chasing a relatively low amount of inventory in that price range.” At present, there is only one month’s worth of inventory for homes at around $2 million. The result, says O’Connell, is that “people are frequently coming in over the asking price.” To see what $2 million or less would buy today, we asked two real estate agents to submit one of their homes for sale in that price range – give or take a few hundred thousand dollars. Here is what they came up with, in two different Gables locations.
“Post War” in Central Gables
536 Alminar Ave
Listing Price: $1.399m
3 Bed/2 Bath. 2,709 Sq. Ft.
Located blocks from the Shops at Merrick Park, this 1949 post-war home has wooden floors, a new roof, a one-car garage, a fireplace, update plumbing and high impact glass doors and windows. The spacious kitchen, with bonus refrigerator, opens both onto a sunny family room and the dining room, with 400-square-feet of covered porch. Listing Agent: Carole Smith (Compass), 305.710.1010
“Wood Manor” in Central Gables
3703 Segovia St.
Listing Price: 1.85m
4 bed/3 bath/2 half bath. 3,435 sq. ft.
A Colonial Revival style home designed by renowned architect Upton C. Ewing for the Wood family in 1939, “Wood Manor” is designed for dual dwelling, with two staircases and two kitchens. Impressive entry, lovely staircases, fireplaces, tall ceilings, niches, large closets, and authentic custom millwork, all within a walled and gated quarter-acre lot two blocks from the public library. Listing Agent: Mauricio J. Barba, P.A. (Compass), 305.439.8311