Coral Gables has some of the most valuable real estate in South Florida, with a median home value of $753,800 – more than twice the median home value for Miami-Dade County as a whole ($302,600). The median price per square foot ($454) is also more than twice the Miami-Fort Lauderdale-West Palm Beach average ($221). Median prices for home sales have fallen 10 percent over the last year (according to Trulia) so now might be a good time to buy.
To see what $5.5 to $6 million would buy today, we asked three 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.
Historic Spanish Home
8820 Arvida Drive
Listing Price: $5.5M
6 bed/6 bath/1 half bath. 5,389 sq. ft.
A 1929 Old Spanish mansion on two acres in the exclusive Gables Estates gated community. Lots of updates including six-year-old barrel tile roof, new electric, new bathrooms, impact resistant French doors, and large modern kitchen. Beautiful wooden floors, large formal living and dining rooms. Lovely Southern live oak trees. Listing Agent: Roz Marks (Coldwell Banker Global Luxury), 305.205.2740
A Gables Villa
9400 Old Cutler Road
Listing Price: $5.7M
6 bed/6 bath/2 half baths. 8,804 sq. ft.
Built in 1970 and remodeled in 2000, “Villa Ventura” sits on 1.5 acres of tropical fruit trees, exotic palms, oak trees and winding paths. Swarovski crystal chandeliers, ornate columns, crown moldings, Venetian painted walls, mosaics by Versace’s artist, chef’s kitchen. Spacious master bedroom with his/hers closets. Outdoor kitchen, covered patio and pool with waterfall. Listing Agent: Hilda Jacobson (Douglas Elliman Real Estate), 786.213.4511
Luxury with an Urban View
515 Valencia Ave. Unit LPPH1
Listing Price: $5.99M
5 bed/5 bath/1 half bath. 4,267 sq. ft. To be built in 2021
Villa Valencia aims to be just that, a villa in the sky. Being built just off the downtown, with views of Granada Golf Course and historic City Hall, Villa Valencia will feature luxury condos with cutting edge technology, sophisticated design and two lower penthouses with corner exposure made for indoor/outdoor living – at an altitude. Listing agent: Jorge Uribe (ONE Sotheby’s International Realty) 786.371.8777