Real Estate Values Decline in Gated Community of Hammock Oaks in Coral Gables

posted on May 12th, 2010 filed under: Properties in Focus

A recent post compiled first-quarter home sales in Coral Gables 33156.  One of those sales suggests that real estate values in the gated community of Hammock Oaks may be down 18% since 2007.

11097 Paradela Street is a 3239-sf home on a 20,475-sf lot, and sold in March for $930,000.

11097 Paradela St., Hammock Oaks

11097 Paradela St., Hammock Oaks

11060 Paradela Street is a 3170-sf home on an 18,678-sf lot, and sold in August 2007 for $1,135,500.

11060 Paradela St., Hammock Oaks

11060 Paradela St., Hammock Oaks

Down 18% since 2007 seems pretty good compared to the nearly 50% decline in greater Miami.  Is that because wealthier communities will decline less in this downturn?  Or are they just lagging behind, still working their way down?  The truth is probably a little of each.

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posted by // This entry was posted on Wednesday, May 12th, 2010 at 9:53 pm and is filed under Properties in Focus. You can follow any responses to this entry through the RSS 2.0 feed.

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