The city of Coral Gables is located in Miami-Dade County in Florida, southwest of Miami. Famous is also known simply as “The Gables” and is best known for being the home of the University of Miami. It is located at 25 43′ 42″N, 80 16′ 16″W and has an area of more than 96 km2. According to a recent estimate, the city has a population of over 42,000. The median home price is around $900,000. Over 60% of residents earned a bachelor’s degree or higher. Median household income is around $75,000. The median age at home is 49 years.
The city’s history is relatively new compared to other cities in the United States. It was developed by George Merrick somewhere in the 1920s. Despite a relatively new history, Coral Gables is one of the first classic planned communities with three-line boulevards, winding driveways, and architecture that is primarily Mediterranean in character. The developer formulated concise planning for the city so much so that he boasted that no business was too far away for anyone to reach. Coral Gables is also known as “The Beautiful City” and is located very close to the Miami International Airport and the Port of Miami. The city is perhaps most acclaimed for being home to a large number of high-quality dining establishments such as Norman’s and Christy’s and internationally known retailers.
The Gables also has some major places of interest, among which the most famous are the Coral Way scenic drive, the Montgomery Botanical Center, the University of Miami and the Venetian Pool. Coral Way is nothing more than State Highway 972, where the beauty lies in the banyan trees that line the road. The Montgomery Botanical Center is a non-profit botanical garden that collects wild plant seeds from around the world, but focuses primarily on cycads and palms. It acts as a research center and is not open for public tours. The University of Miami happens to be a major center of education for Coral Gables and the surrounding areas. It was founded in 1925 and is accredited to the Southern Association of Colleges and Schools. Among all the interesting sites in Coral Gables, one of the most unique is the Venetian Pool, complete with a Venetian-style bridge and classic mooring posts. The Biltmore Hotel, City Hall, Fuente De Soto, and the Miracle Mile are also a must-see.
Coral Gables real estate is a highly desired address as it is one of the most prestigious cities in South Florida. Some luxury communities in Coral Gables include Coral Bay, Gables by the Sea, Coral Estates, and Granada Place. Real estate here is luxurious and elegant. There are currently over 500 homes available for sale from $400,000 to over $10,000,000. There are over 300 condos for sale from $200,000 to over $2,500,000. Currently the real estate market in Coral Gables is very slow and there is a good chance of finding a beautiful house at a great price. Coral Gables Real Estate is expected to improve again in 2009. Now is the time to buy a home in Coral Gables.