SOLD! A Million Dollar Residence Every 15 Hours

April 21st, 2015 Written By


Categorized under Coral Gables Real Estate

Hot off the press! I am proud to announce that my company EWM Realty International once again ranks #1 for $1 million+ homes sold in Miami-Dade County.  We are the market leaders for luxury homes, selling a million dollar residence every 15 hours in South Florida.  That  is 23% more than any other real estate firm! When you work with The Riley Smith Group and EWM, you can rest assured that you are getting the highest level of experience, service and professionalism.

EWM Market Leader

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Gables Club Luxury Condos | Slow Start To 2015

April 9th, 2015 Written By


Categorized under Coral Gables Condos, Coral Gables Real Estate

Gables Club

There have only been 2 closed sales at The Gables Club during the first quarter of 2015.  Although sales may be slow, the average “sale price/square foot” on these units were high compared to the sales during 2014.  As you can see from the chart below, the average “sale price/square foot” for 2015 has come in at $631.00.

Buyers are drawn to The Gables Club because it is in a great waterfront location and has incredible 5 star amenities such as a 24 hour concierge, private club, spa, restaurant, tennis courts, lap pool, putting greens and more!

Check out my stats and trends for The Gables Club below!

Gables Club Sale Price Per Square Foot

View some of the units available for sale at The Gables Club:

See all Gables Club.
(all data current as of 4/25/2015)

  1. 2 beds, 3 full baths
    Home size: 2,570 sq ft
    Year built: 1996
    Parking spots: 2
    Days on market: 21
  2. 3 beds, 3 full, 1 part baths
    Home size: 3,100 sq ft
    Year built: 2003
    Parking spots: 2
    Days on market: 24
  3. 3 beds, 3 full baths
    Home size: 2,960 sq ft
    Year built: 2003
    Parking spots: 2
    Days on market: 106

Listing information deemed reliable but not guaranteed. Read full disclaimer.

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Hammock Oaks | Live In A Coral Gables Gated Community For Less

March 30th, 2015 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate, Coral Gables Waterfront Homes

Hammock Oaks, Coral Gables

Hammock Oaks is a quiet, family friendly gated-community situated off of Old Cutler Road in Coral Gables. When you enter Hammock Oaks you will notice right away the lush vegetation that surrounds the homes and two large lakes which are the focal point of the community. While many of the homes are waterfront, they do not have access to the open water.  However, there are some homes that come with a community dock space which does provide ocean access.

There have been two homes sold in Hammock Oaks so far in 2015. The first was a beautiful Ramon Pacheco designed estate located at 414 Rovino Avenue with stunning water views, limestone flooring, wet bar, split floor plan, elevator and steam shower in the cabana bath. The home sold for $2,200,000 or $348.00/square foot.  The second sale in Hammock Oaks this year was located at 11060 Marin Street; this was a 5,288 square foot home with expansive living areas, high ceilings, oversize terrace for entertaining and impact windows and doors.  The home sold for $1,850,000 or $349.00/square foot.

Last year there were 5 homes sold in Hammock Oaks and they closed for an average sale price of $1,465,000 or $386.00/sq. ft.

Hammock Oaks is a great opportunity to live in a gated community for significantly lower prices than you will find in the nearby gated communities of Cocoplum, Gables Estates, Snapper Creek Lakes and Journey’s End where prices can average $5,000,000.

If you are interested in learning more about this unique community please contact us.

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Land In Coral Gables Selling At $60.00/Square Foot

March 17th, 2015 Written By


Categorized under Coral Gables Real Estate

Grass Field

The land market is extremely active in Coral Gables right now. We recently placed our property at 5030 Orduna Drive in the Gables on the market for land value and had multiple offers within a matter of days.  There are tons of investors out there who want to build new construction projects and capitalize on rising values. Due to low inventory and high demand, the average price of land in the Gables has risen to approximately $60.00/square foot for a non-waterfront, non-gated lot. This price may seem high, but it is actually lower than the neighboring community of Coconut Grove which is selling for $80.00/square foot of land.

In the past 12 months there have been 16 land sales in Coral Gables.  These have ranged in price from $36.00 – $161.00/square foot.

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Buyers Still Paying Full Price (And Higher) For Homes In Coral Gables

March 11th, 2015 Written By


Categorized under Coral Gables Real Estate

Homes Sold In Coral Gables

Some people believe that the market has cooled off in the past couple of months. Sales may be down slightly, however there are still plenty of buyers out there who are ready to jump on a good opportunity when they see one. So far in 2015, there have been 16 homes which have closed at or above asking price in Coral Gables. That doesn’t sound like a slow market to me!  (Last year during the same time period there were only 8 closed at or above asking price.)

Check out the list of homes sold in 2015 which have sold at or above asking price:

  • 1321 Asturia Avenue | List Price: $469,900 | Sale Price: $495,000 (foreclosure)
  • 510 Palermo Avenue | List Price: $574,000 | Sale Price: $574,000
  • 821 Obispo Avenue | List Price: $543,000 | Sale Price: $580,274 (foreclosure)
  • 222 Cadima Avenue | List Price: $599,500 | Sale Price: $600,000
  • 409 Marmore Avenue | List Price: $619,000 | Sale Price: $619,000
  • 1549 San Rafael Avenue | List Price: $550,000 | Sale Price: $700,500 (foreclosure)
  • 1451 Trillo Avenue | List Price: $670,000 | Sale Price: $710,000
  • 2602 San Domingo Street | List Price: $799,900 | Sale Price: $806,000
  • 630 Camilo Avenue | List Price: $835,000 | Sale Price: $850,000
  • 826 Ortega Avenue | List Price: $918,000 | Sale Price: $918,000
  • 4512 San Amaro Drive | List Price: $949,000 | Sale Price: $951,000
  • 510 Tivoli Avenue | List Price: $1,050,000 | Sale Price: $1,050,000
  • 21 E Sunrise Avenue | List Price: $1,089,500 | Sale Price: $1,089,500
  • 4114 San Amaro Drive | List Price: $1,150,000 | Sale Price: $1,150,000
  • 4405 Granada Blvd | List Price: $1,530,000 | Sale Price: $1,530,000
  • 739 Santurce Avenue | List Price: $1,555,000 | Sale Price: $1,555,000

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Biltmore Parc – New Construction Condos Coming To Coral Gables

March 9th, 2015 Written By


Categorized under Coral Gables Condos, Coral Gables Real Estate

Today I would like to introduce you to Biltmore Parc – an exciting new condo project coming to Coral Gables. Located at 718 Valencia Avenue, Biltmore Parc is just steps from the Granada golf course and the Biltmore Hotel. These condos are going to be Mediterranean inspired and modernly designed. They will offer a contemporary open-plan interior layout with tons of natural light. Every unit will feature a NanaWall (folding glass walls) opening to the terrace which allows for true indoor/outdoor living. Some of the other special features will include custom crafted European style kitchens with premium German stainless steel appliances, walk-in laundry room in every residence,  expansive master suite, spacious walk in closets and over-sized spa bathrooms.

This boutique building will offer private elevator access to the foyer of each unit, a luxurious lobby designed by renowned architect Vincenzo Avanzato, 24 hour concierge, and a 1 year membership to The Biltmore Club offering various fitness and social activities.

Biltmore Parc will offer 32 exclusive and luxurious residences in total:

  • 4 units of 2,545 sqft. 3 Bedrooms + Den + 3 1/2 baths
  • 4 units of 2,486 sqft. 3 Bedrooms + Den + 3 1/2 baths
  • 4 units of 2,437 sqft. 3 Bedrooms + Den + 3 1/2 baths
  • 8 units of 2,217 sqft. 2 Bedrooms + Den + 2 1/2 baths
  • 8 units of 2,066 sqft. 2 Bedrooms + Den + 2 1/2 baths
  • 4 units of 1,745 sqft. 2 Bedrooms + 2 baths

If you are interested in learning more about this exciting condo project in Coral Gables, please feel free to contact me at 305-342-1623 or send us a message here.

Home In Gables Estates Sells For $17,200,000

March 6th, 2015 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

If you follow the real estate market in Miami, then you know that recently there has been one luxury home sale after another.  First, news broke that a $30 million home was sold on Indian Creek, earlier this week a home sold in Coconut Grove for $11,000,000 and now in Coral Gables a home in the exclusive gated community of Gables Estates has closed for $17,200,000.

The home in Gables Estates was located at 555 Leucadendra Drive offered 6 bedrooms  and 10,200 square feet of living area.  The main draw of this property was that it was located on 3 acres of prime waterfront land.  The home was built in 1965 and owned by the former chairman of mattress giant Serta at the time of sale. Listing agents were Judy Zeder and Howard Wollofsky.

This makes the 3rd closed sale in Gables Estates this year.  The other two sales were 2 Casuarina Concourse for $8,642,700 and 540 Leucadendra Drive for $6,200,000.  Last year, the total volume of homes sold in Gables Estates came to $60,500,000.  So far this year, the total volume is $32,042,700.

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Coral Gables Foreclosure Sells For Above Asking Price

March 2nd, 2015 Written By


Categorized under Coral Gables Real Estate

Foreclosure IN Coral Gables

When the home located at 821 Obispo Avenue hit the market for $543,000, it received a flurry of activity and offers. Not only was this home listed for under $600,000 but it was a bank owned property – which only increased buyer’s interest. Not surprisingly, the home went under contract in less than 7 days. The home closed well over asking price this week at $580,274 (cash deal).

Many buyers these days still hope to snag one of these elusive foreclosures.  If you are willing to pay cash with no other contingencies then you might have a chance. But you have to keep in mind that Coral Gables foreclosures don’t come around that often and when they do, they almost always end up in a bidding war.

Coral Gables Foreclosure

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here. 

So How Accurate Is Zillow?

February 23rd, 2015 Written By


Categorized under Coral Gables Real Estate

Ask any Realtor and they will tell you that Zillow is the bane of their existence.  1 out of every 2 listing appointments that I go on, I am asked about a property’s Zestimate on Zillow.  I think that Zillow works great in some markets where homes don’t vary much by price, style, condition and age.  But for areas like Coral Gables where every home is so unique, I believe that Zillow gets it wrong most of the time.  For example, imagine two Coral Gables homes that on paper were identical in size, location and condition.  However, one is an Old Spanish and one is a ranch.  Zillow doesn’t know how much value a buyer is going to place on the charming Old Spanish home compared to the ranch style home which could be $100,000 more!  In today’s market, you need an experienced Realtor who knows the comparables and can give you a proper assessment of value.

Many people aren’t aware that Zillow publishes their accuracy figures.  You can see on the chart above that Miami only gets two stars (out of 4).  They come within 5% of the actual price 31.3% of the time, within 10% of the actual price 55.5% of the time and within 20% of the actual price 78.8% of the time.  Here in Coral Gables where average values are $1,000,000, that can be a big difference!!

The moral of the story is, you can use Zestimates as a starting point for your home value.  But why rely on Zillow when you can have a customized valuation performed by a top producer – with no obligation to list your home? The answer seems obvious to me….

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Makeover Coming To Miracle Mile

February 19th, 2015 Written By


Categorized under Coral Gables Real Estate

Miracle Mile

Miracle Mile, one of Coral Gables most recognizable shopping areas, will be getting a complete makeover in the coming months.  The City of Coral Gables has hired Cooper, Robertson and Partners of New York to design a more pedestrian friendly street with wider sidewalks, garden areas, more trees, and to install better lighting and new public artworks.  The project will cost $20 million with half of the money coming from the city and the other half from business owners along the street.  The makeover will last approximately 18 months and will occur between the blocks of Galiano and Ponce.

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

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