The City of Coral Gables has many diverse communities and neighborhoods. The southernmost gated community is Gables by the Sea, which is a boater’s or yachtsman’s dream community because of its unobstructed ocean access. Some call Gables by the Sea the maritime center of Miami because of its easy access to both the Brickell area and the Florida Keys.
Membership in the homeowner’s association is optional, and the fee is nominal. The community is simple. It has a sculpture at the entrance and a children’s park. There is an annual boat/yacht parade. The atmosphere is down to earth, very relaxed, and informal. The closest shopping district is in Pinecrest.
Gables by the Sea saw a massive resurgence in real estate prices in 2018. For the previous two years before that, the sale price per foot square declined steeply, from $508 in 2015 down to $435 in 2017. In 2018 it climbed to about $540 per square foot. Buyers who wanted waterfront properties at bargain prices purchased properties in all price ranges and remodeled the homes, with some of them going back on the market at $700+ per square ft.
A property that tells the narrative: A house on Lerida Street is currently listed for $3.4M. A Vice-President of FedEx purchased the property for about $1.8M in 2014, gutted it and poured well over $1M to modernize it and just as he finished the renovation… was transferred to a different location. The house sold in April 2018 for $3M to its current owners. They now have to move and have listed it for $3.4M. Call or text Maria Murdock at 305.815.9425 if you would like a viewing appointment.