Coconut Grove vs. Coral Gables in 2009?

January 5th, 2010 | categories: Coconut Grove Real Estate

Coral Gables Tower

I think many people were surprised after yesterday’s post to learn that Coconut Grove home values dropped 15% in 2009.  I did a quick analysis of the Coral Gables market for 2009 and thought some of you might be interested to see how we compared to the City Beautiful.  It wasn’t just Coconut Grove that was hit hard, see the stats for Coral Gables below.

Coral Gables 2009 Real Estate Market Review

  • The total number of homes sold in Coral Gables in 2009: 347 (308 in 2008)
  • Average “sales price per square foot” in 2009: $284.00 ($309.00 in 2008)
  • Average sales price in 2009: $987,687 ($1,042,585 in 2008)

For those of you who missed yesterday’s post, Coconut Grove 2009 Real Estate Market Review.

To view all homes for sale in Coconut Grove, click here.

To view all homes for sale in Coral Gables, click here.

Written by Riley Smith

This entry was posted on Tuesday, January 5th, 2010 at 8:44 am and is filed under Coconut Grove Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Linda Pollack said at January 5th, 2010 at 1:34 pm

    Thanks, Riley. According to today’s NYT, the situation may worsen. As a potential buyer, a further drop in prices should be good but it’s not if it means even more people will be unable to put their house on the market without ending up underwater. If house prices traditionally drop with an increase in interest rates, and interest rates are increasing, I’m not sure where things will end up. Or down.

    Linda

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