Learn more about Coral Gables
Just five miles southwest of Miami and home to the University of Miami, Coral Gables has earned its nickname as The City Beautiful. Inspired by the Mediterranean and with the desire to live in a small town but close to the offerings of the city, historic real estate developer George Merrick designed and built Coral Gables in 1925. Today, the city retains all of its charm with tree-lined streets, gorgeous architecture and historic landmarks such as the beautiful Biltmore Hotel and the Venetian Pool. Complete with coral rock formations, waterfalls and caves to explore, the Venetian Pool is the only pool on the National Register of Historic Places and is a must-see when visiting Coral Gables.
Whether looking to invest in a property in Coral Gables or make the city your home, the economy remains strong in the area. With unemployment rates and tax rates lower than the U.S. average and an average income nearly twice that of the rest of the nation, Coral Gables has had some of the highest home appreciation rates of any community across the country. An average of 57% of residents are homeowners and the types of homes in the area run the gamut from small apartment buildings and large complexes to townhomes with single-family homes accounting for more than half of the properties. Each neighborhood in Coral Gables has its own unique investment potential and your real estate professional can help you determine the best opportunities in today’s market.
In the charming area of Coral Gables you’ll be in good company with around 48,649 residents with around 63% of those homeowners. With an average age of 40, the residents of Coral Gables are well established, made up of families of all age groups. Though fairly kicked back throughout the week, during weekends and holidays, you can see a lot more activity and excitement. Over the recent months roughly 316 homes have been sold with an average sold price of $1,660,166. That is a decrease of $169,948 from the previous period.
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