Check out how your neighborhood compares in average price per square foot for single family homes for sale. I analyzed homes currently on the market in six cities: Coconut Grove, Coral Gables, Key Biscayne, Pinecrest, Palmetto Bay and South Miami. The numbers are quite interesting, especially if you are thinking of buying or selling a home.
Key Biscayne is king of the mountain with the average home offered at $1,079 a square foot. Coconut Grove and Coral Gables are comparable to each other with homes averaging $578 and $574 a square foot, respectively. Pinecrest homes average $356, South Miami $263 and Palmetto Bay$238 per square foot.
I also broke out waterfront properties to see what price they averaged per square foot and, not surprisingly, all waterfront homes for sale averaged $953 per square foot. These include residential homes fronting canals, lakes, bays, creeks, lagoons, ponds and oceanfront. I also analyzed strictly bayfront or oceanfront homes that typically command the most money and the average price per square foot, for 19 homes meeting this criteria, was $1,254.
Coral Gables, Coconut Grove and Key Biscayne, the three communities with high numbers of luxury waterfront properties with bay or ocean access, realize tremendous added value.
I am a luxury real estate specialist. If you would like to schedule a buyer or seller meeting, feel free to call me directly at 305-898-1852 or drop me a note at Wellins.D@ewm.com