The Premium for New Construction in Coral Gables Real Estate

posted on July 14th, 2011 filed under: Properties in Focus, Real Estate Market Data

As noted previously, big old houses in Coral Gables have been selling for about $200 per square foot.  What about big new houses?

One of those will cost you quite a bit more, if recent sales are any indication.  The luxury home at 3716 Durango Street sold for about $375/sf, and the luxury home at 2000 North Greenway Drive (which has a golf-course view) sold for about $425/sf.

3716 Durango St.

3716 Durango St.

A premium for new construction may be worth paying to avoid the delay and disruption of renovations.  But are new homes really worth $200 per square foot more than existing homes?  That’s almost the cost of building from the ground up.

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posted by // This entry was posted on Thursday, July 14th, 2011 at 3:16 pm and is filed under Properties in Focus, Real Estate Market Data. You can follow any responses to this entry through the RSS 2.0 feed.

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