What $3.5 to $4 Million Will Buy

January 2020

Residential real estate in Coral Gables continues to be among the most valuable in South Florida, though it is currently something of a buyer’s market. According to Redfin, homes are currently selling for about six percent below list price, and according to Zillow, Gables home values have declined 1.6 percent over the past year. Having said that, the median home value in Coral Gables, at $753,400, is still twice the median home value for Miami-Dade County as a whole. To see what $3.5 to $4 million would buy today, we asked three real estate agents to submit one of their homes for sale in that price range. Here is what they came up with, in different Gables locations.

Modern Space in Central Gables

6611 Leonardo St.

Listing Price: $3.95 million

5 bed/5 bath/1 half bath, pool, garage. 5,648 sq. ft.

Close to the University of Miami and The Shops at Sunset Place, this completely renovated home is an ode to modern, clean lines with a soaring living room space that has its own loft for a family library/sitting room. A great home for an art collector. Pool with cabana and outdoor second kitchen. Listing agent: Audrey Ross (Compass) 305.206.4003

In the Woods Near Fairchild

5577 Arbor Lane

Listing Price: $3.5 million

6 bed/7 bath/2 half bath, pool, garage. 6,429 sq. ft.

Located on a cul-de-sac in the Snapper Creek Lakes community, this expansive home on more than an acre has access to a private marina. With two working fireplaces, pool, three-car garage and separate wing with three bedrooms (each with its own bathroom), this 1988 home offers plenty of privacy – including an interior courtyard with fountain. Listing agents: Lani Kahn Drody & Blair Sonville (Lowell International Realty) 305.520.5420

Open Access to the Bay

12950 Nevada St.

Listing Price: $3.95 million

5 bed/5 bath/1 half bath. 4,742 sq. ft.

A Frank Lloyd Wright inspired design on the water in the gated Gables by the Sea. Just three minutes to the open bay, with 240 feet of water frontage, this home is built for a yacht owner. Plenty of light, and views of the water from almost every room. Two-car garage, almost new roof (2016). Listing agents: Hilda Jacobson & Stacey Margulies (Douglas Elliman Real Estate) 786.213.4511; 305.491.2376