Florida nabes rule the roo$t
Florida’s pandemic-era real estate boom has catapulted enclaves in the Sunshine State to the top of the most expensive neighborhood list — knocking Manhattan hot spots out of the top 10 and cutting Beverly Hills down to size.
The most expensive neighborhood in the country is in the Coral Gables section of Miami, where a home in the gated Gables Estates community is on the market for more than $21 million, according to data compiled by Bloomberg News.
In all, Florida is home to seven of the nation’s most expensive neighborhoods when measured by housing prices, the data showed.
Beverly Hills Gateway in Los Angeles — which was the most expensive neighborhood before the pandemic and where a typical home costs $10.6 million — dropped to third on the list.
A typical manse now costs $12 million in Beverly Hills Gateway, a rise of 12.3% since 2020.
Meanwhile, Big Apple neighborhoods fell out of the top 10 altogether thanks to depreciating home values in the West Village and Upper East Side.
A residential property in the West Village typically costs $5.9 million — down 8.2% compared to before the pandemic.
Upper East Side home prices fell 26% compared to February 2020. A typical residential property there costs $4.2 million.
In Manhattan, home prices are down 14.4% compared to 2020 — fueled partly by an exodus of more than a half-million residents over the past four years.
The typical home in Manhattan sold for $1.04 million in February of this year, down from a median price of $1.21 million in 2020.
Data compiled by Redfin found that nearly three in 10 Manhattanites who were searching for a home were looking to flee the borough.
The most popular destination was Miami, followed by Philadelphia and Washington, DC.
Michael Martirena, cofounder of the “Ivan and Mike” team of luxury Realtors at Compass, told The Post he’s not surprised that Coral Gables soared to the top.
“It’s not surprising that the neighborhood is gaining global recognition for its real estate market” given the fact that it’s “a treasure trove of beauty with protected value,” Martirena said.