Where Does Miami Rank in Forbes’ List of the Most Expensive Zip Codes in America?
In the latest from Forbes’ famed lists, the publication ranked the most expensive zip codes in America. Residents of South Florida will not be surprised to see Miami Beach ranks in the top 10 at number six. Coral Gables makes the list twice for its different zip codes, ranking 28 with zip code 33156 and 35 for the postal code of 33143, while Pinecrest makes the list at 78.
Impressive Real Estate Statistics for Miami Beach, Coral Gables, and Pinecrest
How do Miami Beach, Coral Gables and Pinecrest stack up against the rest of Miami? According to EWM’s Facts and Trends reports, the average price per square foot in homes sold for $750,000 or more in Miami-Dade County range from $569 to $682 per square foot in the last 12 months. In the same time period, the most expensive sold homes in Coral Gables averaged $485 per square foot, $977 per square foot in Miami Beach, and $302 per square foot in Pinecrest.
In October 2015, there were 4,013 homes priced at $750,000 or higher listed for sale in Miami-Dade County. Of those, 259 sold. In October alone, 32 homes over $750,000 sold in Coral Gables, with 61 sold in Miami Beach and 15 in Pinecrest.
It may not come as a surprise that Miami Beach, Coral Gables and Pinecrest rank in the top 100 of the most expensive zip codes in America. If the mantra in real estate is location, location, location, Miami may be the Holy Grail. Coral Gables, Miami Beach, and Pinecrest are three of the most desirable neighborhoods in Miami. It doesn’t get much better than luxury living in paradise.
Suzanne Feanny has extensive experience in working with buyers and sellers in Coral Gables, Miami Beach, and Pinecrest. Contact Suzanne for a complimentary consultation.
Esslinger Wooten Maxwell. (2015). Real Estate Market Trends. EWM Realty International. Retrieved from http://ewm.com/trends
Schiffman, B. (2015). Full List: America’s Most Expensive ZIP Codes 2015. Forbes. Retrieved from http://www.forbes.com/sites/betsyschiffman/2015/11/10/full-list-most-expensive-zip-codes-in-2015/