Coral Gables Real Estate Market Remains Steady

May 12th, 2016 Written By


Categorized under Coral Gables Real Estate

Although we are experiencing a slowdown in certain segments of the Coral Gables real estate market, the overall figures remain fairly steady compared to the same time period last year. Check out the charts below which show a comparison between 2015 and 2016.

Coral Gables Real Estate Market

Average Sale Price In Coral Gables

Coral Gables Chart 3

There is one segment that has certainly seen a slowdown in the number of sales this year. That is the $2,000,000 – $3,000,000 price point. You can see from the chart below that sales have slowed by nearly 50% in that price range compared to the same time period in 2015.

Coral Gables Chart 4

Coral Gables Chart 5

Coral Gables Chart 6

Coral Gables Chart 7

If you are considering selling your Coral Gables home and would like to know how we sell our listings fast and for the highest price possible, please contact us today. We can be reached anytime at 305-342-1623 or by sending us a message here.

New Price 1019 Venetia Avenue | Now Listed At $799,999

April 20th, 2016 Written By


Categorized under Coral Gables Real Estate

1019 Venetia Avenue, Coral Gables

We have just repriced our listing at 1019 Venetia Avenue in Coral Gables. This lovely 4 bedroom, 3 bath home with 2,563 square feet of living space on a 5,563 square foot lot is now listed at $799,999. The home has recently been renovated with a new roof, new porcelain tile floors and all new bathrooms.  It also features a formal living and dining room, as well as a very large master suite. The kitchen has custom wood cabinets with quartz counter-tops and opens to a light filled family room. It is in a great location close to all of the shops, restaurants and cafes in downtown Coral Gables.

1019 Venetia Avenue, Coral Gables

1019 Venetia Avenue, Coral Gables

1019 Venetia Avenue, Coral Gables:

If you are considering selling your Coral Gables home and would like to know how we sell our listings fast and for the highest price possible, please contact us today. We can be reached anytime at 305-342-1623 or by sending us a message here.

Coral Gables Waterfront Homes Market Update | Sales Down, Values Stable

April 15th, 2016 Written By


Categorized under Coral Gables Waterfront Homes

Coral Gables Waterfront Homes

During the first quarter of 2016 there were 12 waterfront homes sold in Coral Gables. These sold for an average of $4,600,000. The numbers this year are down slightly from the first quarter of 2015 where there were 20 waterfront closed sales in Coral Gables which averaged $5,100,000. The good news is that values seem to be holding for waterfront property. In 2016 the average price per square foot has come in at $738.00 where during the same time period in 2015 it was $721.00/square foot.

I believe this data is similar to what we are seeing across the rest of the luxury market in Coral Gables. There are fewer ultra-luxury sales thanks to the strong dollar and less buyers in the market. However these conditions have not yet had a negative impact on values.

If you are considering selling your Coral Gables home and would like to know how we sell our listings fast and for the highest price possible, please contact us today. We can be reached anytime at 305-342-1623 or by sending us a message here.

Little Gables Home Sells Over Asking Price

March 30th, 2016 Written By


Categorized under Coral Gables Real Estate

7550 SW 43rd Avenue, Little Gables

Congratulations to our sellers of 1503 SW 43rd Avenue who just closed on their house in the Little Gables.  As soon as we put this listing on the MLS the phone was ringing off the hook with potential buyers and we had a multiple offer situation just a few days later. The home closed last week for $690,000, which was $15,000 over asking price.

What factors made this such a sought-after listing? First of all, it was priced perfectly at $675,000 which generated a lot of interest from potential buyers. Second, it was in excellent condition and turn-key ready. Third, the price point (below $1,000,000) is one of the most active segments of the Coral Gables real estate market.

Details of 1503 SW 43rd Avenue:

  • 3 Bedrooms, 3 Baths
  • 2,662 Square Feet of Living Area
  • 5,350 Square Foot Lot
  • List Price: $675,000 | Sale Price: $690,000

If you are considering selling your Coral Gables home and would like to know how we sell our listings fast and for the highest price possible, please contact us today. We can be reached anytime at 305-342-1623 or by sending us a message here.

6275 Dolphin Drive, Coral Gables – Waterfront Villa With 100′ Seawall

March 30th, 2016 Written By


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

Waterfront Home In Coral Gables

Aerial Image of Kings Bay Estates

If you love the water and are looking for a home with plenty of dock space, then you will love our listing in the gated community of Kings Bay Estates. “Paradiso” is an elegant Bermuda style Villa with grand interior spaces which are flooded with natural light. The home overlooks the Deering Bay Marina and a stunning deep water lagoon with direct bay and ocean access. A private 100′ sea wall accommodates four 60′ boats. A few of the features include an expansive formal dining area and custom kitchen with center island. The home also has a 3,000 SF ground level 8-car garage, elevator & security system with cameras throughout.  For more information about this property, please contact Bea Citron at 305-606-7993 or [email protected]

Kings Bay Estates Waterfront Villa

Waterfront Home In Kings Bay Estates Coral Gables

Details of 6275 Dolphin Drive, Kings Bay Estates:

  • 5 Bedrooms, 3.5 Baths
  • 4,623 Square Feet Of Living Space
  • 16,800 Square Foot Lot
  • View Virtual Tour Here
  • Offered At: $3,500,000

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.

Can He Sell It Now? Alan Potamkin Splits Property And Drops Price

March 10th, 2016 Written By


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

1 Casuarina Concourse, Coral Gables

Back in May of 2015, auto-tycoon Alan Potamkin’s spectacular Gables Estates residence at 1 Casuarina Concourse hit the market. Listed by The Jills of Coldwell Banker, the home featured 20,862 square feet of living space, 9 bedrooms, 10.5 baths, pool, gym, tennis court, 1,500 wine cellar, a professional chef’s kitchen and 937′ of water frontage.

After nearly 1 year on the market, Potamkin has now divided the 3.6 acre lot that his current home is situated on and reduced the price from $67,800,000 to $49,000,000 in a further attempt to get the property sold (according to The Miami Herald).  By separating the lots, he believes that he will open up options for potential buyers. The two properties are now listed separately, however, Potamkin has said that he wants to sell the property with the house first before he sells the empty lot.

The highest recorded sale price for a home in Coral Gables occurred in 2012 for $25,000,000 (41 Arvida Parkway in Gables Estates).

With over $85,000,000 in sales volume in 2015, The Riley Smith Group knows real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.960.5317 or send us a note here.

The Platinum Triangle Sees Few Sales Due To Low Inventory

March 9th, 2016 Written By


Categorized under Coral Gables Real Estate, The Platinum Triangle

San Servando

There are only 5 homes currently for sale in the sought after neighborhood of The Platinum Triangle. Homes in this area tend to get snapped up quickly due their proximity to the neighboring communities of South Miami and Coconut Grove. It is a very central location in Coral Gables which helps with the daily commute to work and schools.

The active listings in The Platinum Triangle range in price from $997,000 to $3,950,000. Sales in this area have ranged over the past 12 months between $670,000 and $2,575,000. Although there were 11 sales in The Platinum Triangle during 2015, there have not been any closed sales so far in 2016. The lack of activity is a result of low inventory levels.

Check out what is for sale in The Platinum Triangle below:

  1. 4 beds, 3 full baths
    Home size: 1,992 sq ft
    Lot size: 9,400 sqft
    Year built: 1953
    Parking spots: 1
    Days on market: 40
  2. 5 beds, 4 full baths
    Home size: 4,180 sq ft
    Lot size: 16,500 sqft
    Year built: 1965
    Parking spots: 2
    Days on market: 42
  3. 3 beds, 2 full, 1 half baths
    Lot size: 11,000 sqft
    Year built: 1955
    Parking spots: 1
    Days on market: 45
  4. 4 beds, 3 full, 1 half baths
    Home size: 3,900 sq ft
    Lot size: 11,000 sqft
    Year built: 2016
    Parking spots: 2
    Days on market: 56
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,592 sq ft
    Lot size: 16,400 sqft
    Year built: 1954
    Parking spots: 2
    Days on market: 115

See all Coral Gables Platinum Triangle.
(all data current as of 5/24/2016)

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

With over $85,000,000 in sales volume in 2015, The Riley Smith Group knows real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.960.5317 or send us a note here.

We Have The Most Sought After Listing In Coral Gables

February 22nd, 2016 Written By


Categorized under Coral Gables Real Estate

Menendez, Coral Gables

Our team currently has the hottest listing in Coral Gables……but it’s probably not what you would expect. Last month we listed an investment property located at 517 Menendez Avenue for $699,000. Situated on a quiet Gables street, this duplex offered 3 bedrooms, 2 baths upstairs and 3 bedrooms, 2 baths downstairs with tile floors and a washer and dryer in each unit. There are tenants in both the top and bottom of the duplex who are interested in renewing their leases in May.

Since listing over 3 weeks ago, we received at least 3 showing requests per day and nearly 10 offers on the property. Considering that this is neither a foreclosure or a short sale, that is a lot of interest. Just goes to show how many investors there are out there who are looking for this type of property. I am happy to report that we went under contract yesterday! Congratulations to all parties involved!

Would you like to work with Realtors who specialize in Coral Gables real estate? Contact us today at 305-342-1623 or send a message here to learn more about working with our team!

Homes Trading For Full Price In Coral Gables

February 10th, 2016 Written By


Categorized under Coral Gables Real Estate

Algeria, Coral  Gables

The real estate market may be slowing down in some respects, but when a well-priced home hits the market buyers are still acting fast. There have been 3 homes that closed for full asking price in the past 30 days in Coral Gables.  Some sellers are hesitant to price their property at market value, however, the proof is in the pudding that it is the best way to sell your home quickly and for the highest price.

Below is a list of the homes that closed for full list price in the past 30 days:

  1. 641 North Greenway Drive | List Price: $2,188,000 | Sale Price: $2,188,000 | 6 bedrooms, 4 baths | 3,949 Sq. Ft. LA | 16,800 Sq. Ft. Lot
  2. 811 Santiago Street | List Price: $649,000 | Sale Price: $649,000 | 4 bedrooms, 2.5 baths | 1,798 Sq. Ft. LA | 5,500 Sq. Ft. Lot
  3. 810 Algeria Avenue | List Price: $550,000 | Sale Price: $550,000 | 2 bedrooms, 2 baths | 1,774 Sq. Ft. LA | 5,000 Sq. Ft. Lot

The real estate market in Coral Gables is changing on a daily basis. If you are thinking of selling and would like a valuation performed on your home, please give me a call anytime at 305-342-1623 or send us a message here. I would be more than happy to sit down with you and discuss the recent comparables.

 

Just Listed In Little Gables | 1503 SW 43rd Avenue

February 1st, 2016 Written By


Categorized under Coral Gables Real Estate

7550 SW 43rd Avenue, Little Gables

We have just listed a great property in a special community known as Little Gables. 1503 SW 43rd Avenue is a charming Spanish style home on a corner lot just nine blocks from Miracle Mile. Some of the special features include new impact glass, hardwood floors, marble baths, tumbled marble patio, french doors and New England shutters. The custom kitchen has an island, wood cabinetry, granite counter-tops and stainless appliances. The expansive master suite has his/hers closets with a spa-like bath and whirlpool tub with separate shower.

Details include 3 bedrooms (+ den convertible to bedroom/office), 3 baths with 2,667 square feet of living area on a 5,350 square foot lot.  List price is $675,000.

7500 SW 43rd Avenue, Little Gables

7500 SW 43rd Avenue, Little Gables

 

7500 SW 43rd Avenue, Little Gables

Would you like to work with Realtors who specialize in Coral Gables real estate? Contact us today at 305-342-1623 or send a message here to learn more about working with our team!

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