An analysis of Multiple Listing Service (MLS) data shows that in Coral Gables, residential value appreciation significantly outpaces the interest rate increases we are currently seeing. That means buyers should factor appreciation trends into their decision to purchase now.
Buyers are certainly taking that into consideration at Merrick Manor, which is experiencing an incredible run of sales activity and nearing SOLD OUT status.
From the end of 2017 to the end of 2021, the average year-over-year increase in appreciation in Coral Gables was 8.58%, according to the MLS. This timeframe is important because it is consistent with how long a typical condominium owner remains in a unit before moving on. That average appreciation is well above the current 6% interest rates – and the expected additional increases.
This appreciation trend shows why Coral Gables is a one-of-a-kind place to call home in the Greater Miami market. The City Beautiful offers a desirable combination of walkability, safety, top-rated schools, dining, shopping and entertainment. And Merrick Manor is the premier new luxury condominium building in the city.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit the new Sales Gallery in Suite 117 on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.
