Coral Gables Foreclosure Market
By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
Coral Gables Foreclosure | 4114 San Amaro Drive | Sale Price: $601,000 In 2009 there were 53 single family foreclosure homes that sold in Coral Gables. Of these homes, the average selling price was $368,882 with an average sales price per square foot of $170.00. To put these numbers into perspective, the average sales price of a non-distressed home in Coral Gables (2009) was $987,687 at an average sales price per square foot of $284.00. As would be expected the sales price to list price ratio for foreclosure homes in Coral Gables is 96% whereas the ratio is only 90% for non-distressed homes. In layman's terms, the foreclosure homes sold much closer to the asking price than the non-foreclosures. This is due to the fact that the properties are already heavily discounted when they hit...
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