Coral Gables Thrives in Troublesome Miami Real Estate Market
By Jim Haas
(EWM Realtors, Inc.)
Originally posted on my Miami Condo Blog on 9 September 2007. With the news abuzz with tales of nightmarish situations for both real estate owners and real estate developers in the metropolitan Miami area, it's worth nothing that highly desirable areas can be relatively immune to deteriorating market conditions.In the greater Miami area, one example of a resilient area is Coral Gables. Sales data indicates that the average selling price in Coral Gables rose from $1.2 million to $1.4 million, posting a $200,000 increase. During the same period, the greater Miami market posted declining numbers. What makes Coral Gables different?First off, Coral Gables isn't alone, and, the factors that make certain communities immune to a shaky market aren't hard to trace. Consider Coral Gables:Coral Gab...