Another Home Sold In Coral Gables By The Riley Smith Group!

December 15th, 2014 Written By


Categorized under Coral Gables Real Estate

Sunset Drive

Just in time for the holidays! Congratulations to our buyers who just purchased the property located at 825 Sunset Drive in Coral Gables.   The home is in pristine condition and situated on a rare double lot.  It has been recently updated with a new roof, impact glass and new kitchen and bathrooms.  We wish them happiness and joy as they bring in the new year in their new home!

We would also like to congratulate Bea Citron, one of our Coral Gables real estate specialists, who worked diligently with these clients to help them secure this great property!

Details of 825 Sunset Drive:

  • 2,459 Square Feet Of Living Area
  • 10.000 Square Foot Lot
  • 3 Bedrooms, 2 Baths
  • Sale Price: $900,000

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Highest Non-Waterfront “Sale Price/Square Foot” In Coral Gables?

December 11th, 2014 Written By


Categorized under Coral Gables Real Estate

541 Hardee New

It would be no surprise that the highest “sale price/square foot” in Coral Gables went for a waterfront residence in a gated community.  However, I thought it would be more interesting today to show you just how high buyers would go for a dry property.  So far this year, the highest “sale price/square foot” for a non-waterfront home is 541 Hardee Road located in the historic French Village.  This home sold for $620.00/square foot.  Surprisingly, this property also received a higher “SP/SQ. FT.” than other homes which sold in gated communities (non-waterfront).  541 Hardee had all the attributes of a strong sale.  First, it was part of George Merrick’s French Village which is steeped in history.  Second, it had been meticulously renovated and restored with the finest finishes.  Third, it was one of a kind.  You will not find a property similar to this anywhere else in Coral Gables.

Not only did it sell for the highest “sale price/square foot” for non-waterfront properties this year, but it also went under contract in 5 days which shows you how high demand is for homes in the French Village.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Cocoplum Sees Another Year Of Increasing Values

December 9th, 2014 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

Cocoplum Market Data

Cocoplum has seen another year of increasing values with the average “Sale Price/Square Foot” coming in at $542.00 this year.  The number of total sales has remained relatively stable (22 in 2014, 26 in 2013 and 21 in 2012) showing that buyers are not turned away by the higher prices in Cocoplum.  Sometimes when you see such a drastic increase in price over a short period of time buyers become hesitant to jump into the market.  However, that has not been the case here and is great news for anyone thinking about selling in this prestigious gated community.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Another Coral Gables Home SOLD By The Riley Smith Group!

December 2nd, 2014 Written By


Categorized under Coral Gables Real Estate

Messina Collage

Congratulations to our clients who just sold their home located at 806 Messina Avenue in Coral Gables.  They purchased this lovely North Gables home in October of 2013 for $530,000, and closed  yesterday for a sale price of $575,000.  That is a nice profit in just 1 year! This property offered 3 bedrooms, 2 baths with 1,623 square feet of living space on a 5,000 square foot lot.  It had light filled living spaces with new hardwood floors, an updated master bath with California closets and impact glass throughout.  It also offered a bonus room/office and garage.

Our Coral Gables real estate specialist Liz Perdigon got this home under contract in less than 30 days!

If you are interested in learning more about how we market our properties so that they sell quickly and for the highest price possible, contact us at 305-342-1623 or you can send us a message here.

Two Homes On Granada Golf Course Sold This Week

December 1st, 2014 Written By


Categorized under Coral Gables Golf Course Homes, Coral Gables Real Estate

Golf Course Homes In Coral Gables

Inventory is limited if you are looking for a home in Coral Gables with golf course views.  In fact, there are currently only 13 homes in Coral Gables with views of a golf course on the market (out of 213 total for sale).   Prices for these homes range from $1,149,000 for a 3 bedroom, 3 bath home on the Riviera Golf Course and go up to $12,500,000 for an 8 bedroom, 6 bathroom home on the Biltmore Golf Course.

This week there were two closed sales overlooking the Granada Golf Course.   First, 1220 South Greenway Drive sold for $1,725,000.  This was a 4 bedroom, 4.5 bath home which offered 3,426 square feet of living area on a 12,500 square foot lot.  It closed for $1,725,000/$503.00 per square foot.  Listing agent was Ashley Cusack of EWM Realty International.  The second home was located at 1234 South Greenway Drive.  This was a 4 bedroom, 3 bath home which offered 3,514 square feet of living space on a 12,500 square foot lot.  It closed for $1,250,,000/$355.00 per square foot (short sale).  Listing agent was Jeanette Slesnick of Slesnick and Jochem.

Golf course homes in Coral Gables sell at a premium due to their unique location.  Golf courses in Coral Gables include The Biltmore, Granada, Riviera and Deering Bay.  You can find homes for sale on any of these but should be warned that they tend to sell quickly because they don’t become available very often.

If you are interested in buying or selling a home on one of Coral Gables fantastic greens, please give me a call on my cell at 305-342-1623, or fill out a contact form here.

Surprised Sellers Learn The Value Of Their Home In A Changing Market

November 17th, 2014 Written By


Categorized under Coral Gables Real Estate

Stressed businessman

Now that the real estate market has come back in full force, many sellers are unsure about the current value of their home.  There are certain segments of the market which have increased more than others and only after an in depth analysis will you know the true value of your home.  I met with some potential sellers on Sunday morning to discuss their home’s market value and delivered the good news that their house was worth nearly $100,000 more than they thought.  Now that was a refreshing change!

There are many factors that I take into account when performing a valuation aside from just the recent comparable closed sales.  I also like to pull the comparable active listings to see what the competition (including the “days on the market” for these properties).  If a similar home down the street from the subject property is listed for $750,000 and still hasn’t sold after several months, then it is an indication that buyers don’t see the value at this price.  Another important factor is pending sales. Pending sales can tell you where prices are headed in the future.  Even though we don’t know the sale prices yet, we know that Coral Gables homes sell roughly 5% off of their list price which will give us an approximate value.

If you are interested in working with Realtors who specialize in Coral Gables, please feel free to contact us at 305-342,1623, we would love the opportunity to work with you.

After 4 Years On The Market 6801 Pullen Avenue Sells For $6,025,000

November 13th, 2014 Written By


Categorized under Coral Gables Real Estate, Coral Gables Waterfront Homes

Pullen Avenue, Coral Gables

The home located at 6801 Pullen Avenue in Coral Gables just sold for $6,025,000.

This property originally hit the market back in 2010 for a list price of $6,500,000.  The home offered 5,157 square feet of living area with 4 bedrooms, 4 baths on a 31,304 square foot lot.  It was marketed as a renovation project and/or land value.  Over the years they raised the price to $7,500,000 then lowered it back down to $7,100,000, $6,999,000 and finally $6,495,000.  This was a unique property for Coral Gables because it was direct-bay front with 121 feet of water frontage, however it was not located in a gated community.  Most direct bay-front homes in Coral Gables are in Cocoplum, Gables Estates, Sunrise Harbour, Gables By The Sea, etc.  But Pullen Avenue in Coral Gables is between North Prospect and South Prospect and not in a gated community.  That presented some difficulty in the sale of the home because there aren’t too many buyers who are willing to pay upwards of $6,000,000 for a non-gated community home that needed torn down or renovated.

At $192.00 per square foot of land, the house sold for approximately the same price that a similar direct bay-front lot sold for in the nearby gated community of Sunrise Harbour (6975 Sunrise Terrace closed for $187.00/square foot).

**This is the first home sold over $5,000,000 in the past 90 days in Coral Gables.

Listing agent was Dennis Carvajal of One Sothebys.

Pullen Avenue, Coral Gables

Pullen 3

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Gables Estates Activity Is SLOW In 2014

November 10th, 2014 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

Gables Estates Aerial

Activity is so slow in Gables Estates this year that you could hear a pin drop.  With just 3 homes sold since January 1st, the market is pretty much at a standstill in this prestigious gated community.  The reason? A lack of inventory is the main contributor but we have also seen a slowdown in the number of ultra-luxury sales.  In fact, there has not been a home sold over $5,000,000 in Coral Gables during the last 90 days.  This is a problem for Gables Estates where homes start at $5,000,000 and go up to $15,000,000.

If you follow the blog you may remember that 2012 was a record setting year for Gables Estates with 12 sold homes and $100,000,000+ sold in volume.

Gables Estates is a private, 200 acre gated community situated on Biscayne Bay in Coral Gables.   With homes that have an average sale price of $7,000,000, it is certainly one of Florida’s most exclusive addresses.  Gables Estates was developed in the 1960′s by industrialist Arthur Vining Davis (Davis owned an estimated 1/8 of Dade County at the time).

Our team knows the Coral Gables real estate market and tracks the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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Coral Gables On Track To Break Record | $1,000,000+ Home Sales

October 29th, 2014 Written By


Categorized under Coral Gables Real Estate

Coral Gables Million Sales Chart

Reports surfaced this week stating that Miami was now among the nation’s Top 10 Luxury Home Markets.  The cities with the most $1,000,000+ home sales earned a spot on the list.  Coral Gables certainly contributed to these figures with over 177 $1,000,000+ properties sold in 2014.  And we are on track to sell more $1,000,000+ homes in 2014 than any year in history (with 79 under contract).  Rising values, low inventory and high demand are among the contributing factors to these high price sales.  Take a look at the chart I created above which shows how this segment of the market has grown over the past 5 years.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Direct Waterfront Sells In Gables By The Sea For $2,650,000

October 23rd, 2014 Written By


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

780 Lugo Avenue, Gables By The Sea

This unique property located on a peninsula in the gated community of Gables By The Sea (780 Lugo Avenue) just closed for $2,650,000.  It was being sold as a renovation project and offered 4,045 square feet of living area on a 11,500 square foot lot.  It had 100′ of direct bay views with a private dock and boat lift. Although the home needed significant updating, it still sold for $655/sq. ft. of living area which is one of the highest price per square foot figures this year in Gables By The Sea.

It is not likely that the property sold completely for land value because at $250.00/sq. ft. – you would be looking at a higher $/sq. ft. than even Gables Estates is fetching for direct waterfront land.

Property was listed by Joann Roberts.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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