Luxury Miami Real Estate

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550 South Dixie Highway

Coral Gables, FL 33146

Cell: 305-798-8685

Office: 305-960-5330

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What is your home worth?

The past few years have been such an unsteady time in the real estate market that is has left people guessing how much our market is really down. So I want to give you a glimpse at what has really transpired, in terms of our home values. Below is a breakdown evaluating the average sold price per square foot of a home during the month of August over the past three years. This week I am investigating Coral Gables and Coconut Grove, in the price range between $800,000 and $1,250,000.

Coral Gables – average price/square foot:

August 2007 – $336

August 2008 – $312

August 2009 – $298

Coconut Grove – average price/square foot:

August 2007 – $333

August 2008 – $298

August 2009 – $284

You can see that there is a great difference between values in 2007 and 2009, but we have seen a shift recently with people buying again, and prices stabilizing. I am hopeful that within the next couple years, we will begin to see these numbers start to inch up again.

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