I’m flooded with buyers looking for homes in walkable communities. Millennials, downsizing couples and people with disabilities are all in search of a unicorn – town homes, single-family homes and apartments within walking distance to a city center.
Homeowners of all ages don’t want to drive. They want to walk into town, grab a bite to eat, throw back a few and shop or catch a movie. It’s a beautiful thing…log in a few walking miles and avoid parking hassles, costs and driving under the influence.
But buyers also want affordability, modernization, great amenities, highly rated schools and a safe environment. Walkable cities, though, have not kept pace with consumer taste and interest. Inventory is low while demand is high. And the increased popularity of walkable communities has naturally driven up the price of homes, especially in Coconut Grove, Coral Gables and South Miami, three communities that meet most of the criteria for walkers.
Over the last few years, developers are responding to this demand in all three cities, building luxury town homes with price tags from $800,000 to over $2.5 million. Ultra modern two and three bedroom town homes are going up like crazy in Coconut Grove, north of Grand, west of McDonald and all along Bird Road. These neighborhoods are undergoing gentrification where builders are scooping up affordable land and building very cool residences.
In the Gables, west of LeJune and north/south of Coral Way, upscale contemporary town homes are selling out pre-construction at a premium price. And the Gables, of all the communities, has a vibrant city center that attracts and cultivates walkers. They are preparing to renovate Miracle Mile and have a convenient hop on-hop off trolly that services walkers.
South Miami has really come on strong the past few years, with spacious lux town homes going up very close to the action and more restaurants opening around the perimeter of the city center.
Looking to move to a walkable community? Call, text, email or send smoke signals. I’ve got the skinny on them. 305.898.1852 Wellins.D@ewm.com