An exclusive neighborhood in Miami-Dade has become the most expensive in the United States, even surpassing Beverly Hills, in Los Angeles, California.
According to data provided by the real estate website ZillowFlorida has cemented its position as the epicenter of luxury real estate, home to seven of the ten most expensive neighborhoods in the country.
Among these, one stands out especially: Gables Estates, located south of Coral Gables, and which has surpassed Beverly Hills to become the most expensive neighborhood in the nation.
Gables Estates is known for its exclusivity and opulence, home to extravagant mansions and luxury residences, according to a publication by Cuba in Miami.
The median home price is $19.4 million, while in Beverly Hills Gateway it is $10.79 million.
But the Californian city was not only displaced by this enclave in Coral Gable, but also by Port Royale, near Naples, Florida, where the average price of a home reaches 16.9 million dollars.
This change in classification evidences a significant trend in the real estate market, driven by the increasing flow of people to Florida and the increase in housing prices in the region.
According to Berkshire Hathaway HomeServices EWM Realty, the Covid-19 pandemic led a new group of buyers to consider moving to locations of their choice, which has contributed to the booming real estate market in the so-called Sunshine State.
In February 2020, before the health emergency, California and New York City had six of the most expensive neighborhoods in the country.
Such is the booming market in Miami that although the average home price in Gables Estates is $19.4 million, only four homes are currently available on the market, with an average price of $40.2 million.
The list of ten America’s most expensive neighborhoods and their respective average home prices according to Zillow is as follows:
Gables Estates, Coral Gables, Florida: $19.4 million
Port Royale, Naples, Florida: $16.49 million
Beverly Hills Gateway, California: $10.79 million
Old Cutler Bay, Coral Gables, Florida: $10.22 million
Beverly Hills The Flats, California: $9.28 million
Rivo Alto Island, Miami Beach, Florida: $9.1 million
Bear’s Club, Jupiter, Florida: $8.99 million
Aqualane Shore, Naples, Florida: $8.88 million
San Marino Island, Miami Beach, Florida: $8.84 million
Trousdale Estates, Beverly Hills, California: $8.5 million
