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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Is It Still Possible To Find A Distressed Sale In Coral Gables

October 13th, 2014 Written By


Categorized under Coral Gables Real Estate

Despite the unbelievable turnaround in the Coral Gables real estate market over the past few years, we are still seeing some distressed properties come across the MLS.  There have been a total of 17 short sales and 12 foreclosures sold in 2014 in Coral Gables.  The average sale price of these homes has been $600,000 ($250.00/sq. ft.).

There are 21 short sales and 4 foreclosures pending/under contract in Coral Gables and approximately 5 short sales and 5 foreclosures currently for sale.

While it is still possible to snag a distressed sale, you typically have to be a cash buyer and willing to pay close to or above asking price.

Check out the spreadsheet below which shows all of the short sales and foreclosures which have closed in Coral Gables this year.  If you would like more information about any of these sales, please feel free to contact us.

Distressed Sales Coral Gables

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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Just Listed In Coral Gables! 806 Messina Avenue

October 7th, 2014 Written By


Categorized under Coral Gables Real Estate

Messina Collage

We just listed a great home with 3 bedrooms, 2 baths + office/den for under $600,000 in North Gables.  This is a fantastic property that I know will sell fast.  The home offers light filled living spaces with new hardwood floors, updated master bath, California closets and impact glass.  French doors in the family room open to a charming Chicago brick terrace and lush tropical garden which is perfect for entertaining.

Details of 806 Messina Avenue in Coral Gables:

Please contact Liz Perdigon of The Riley Smith Group at 786-543-5777 to set up a showing.

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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Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

731 Minorca Avenue Sells $84,000 Above List Price!

September 29th, 2014 Written By


Categorized under Coral Gables Real Estate

Minorca

731 Minorca Avenue listed by Jeannett Slesnick hit the market with a description that read:

“Stunning, updated/expanded home close to CG Country Club and downtown Gables. Enter large foyer, then step into LR with carved stone fireplace & cathedral ceiling. Formal DR leads to the Fam Rm that opens to a covered back porch and lushly landscaped/lighted back yard. The new kitchen has breakfast area, plus dining counter. 3 large bdrms/2 baths. Master is huge with walk-in closet. Like a brand new home as most major updates have been completed including impact windows.  FIRM PRICE OR ABOVE LIST PRICE EXPECTED

They weren’t joking with that caveat!  The home went under contract in days and sold $84,000 above asking price.  This was a 1930′s home that had been well updated and expanded.  It offered 2,954 square feet of living space on a 11,250 square foot lot with 3 bedrooms, 2 baths.  Special features included carved stone fireplace, cathedral ceilings & impact windows and doors.  The home closed for $1,180,000.

With inventory so low in today’s market, a well priced home garners a huge amount of interest and typically sells at or above list price.

The Coral Gables real estate market is changing on a daily basis.  If you are interested in buying or selling and want to work with an experienced Realtor who knows the numbers and tracks the sales, please contact me directly at 305-342-1623. 

Coral Gables Homes For Sale Under $1,000,000 | Lowest Level In 5 Years

September 22nd, 2014 Written By


Categorized under Coral Gables Real Estate

Gables Chart

 

The chart above shows the number of homes for sale in Coral Gables which are priced under $1,000,000.  You can see that we are currently at the lowest inventory level in over 5 years.   These figures are a result of rising home prices as well as increased activity in this price point.  This segment of the market is by far the most active in Coral Gables right now as buyers quickly snap up entry-level homes.

While this is great news for sellers, it has led to frustration among many buyers.  When a good home priced under $1,000,000 hits the market it is common for there to be multiple offers with the highest and best offer securing the deal.

An interesting figure about this segment of the market is that sale prices for $1,000,000 and below homes have increased from $500,000 to $600,000 since 2010.

The Coral Gables real estate market is changing on a daily basis.  If you are interested in buying or selling and want to work with an experienced Realtor who knows the numbers and tracks the sales, please contact me directly at 305-342-1623.

Land In Coral Gables Sells For $58.00/Square Foot

September 8th, 2014 Written By


Categorized under Coral Gables Real Estate

Land for sale in Coral Gables

With home prices on the rise, developers are circling Coral Gables real estate looking for opportunities to build.  The property at 6505 Castaneda Street sold for full price in just 2 days after hitting the market.  The property offered 17,078 square feet of land in a prime location.  Although there was a structure on the lot, the property sold for land value at $1,000,000 or $58.00/square foot.  Listed by Dee Quintero of EWM Realty.

Currently in Coral Gables the average sale price per square foot of non-waterfront lots is $55.00, while the average waterfront lot is selling for over $100.00 per square foot.

There have been 14 other lots sold in Coral Gables this year, see details below:

  1. 2 Arvida Parkway | Sale Price: $6,125,000 | Waterfront and Gated Community | $161.00/Sq. Ft.
  2. 10350 Old Cutler Road | Sale Price: $1,300,000 | $29.00/Sq. Ft.
  3. 1507 Cordova Street | Sale Price: $600,000 | $55.00/Sq. Ft.
  4. 432 Madeira Ave. | Duplex Lot | Sale Price: $425,000 | $42.00.Sq. Ft.
  5. 450 Como | Sale Price: $1,500,000 | $60.00/Sq. Ft.
  6. 6975 Sunrise Terrace | Sale Price: $5,000,000 | Waterfront and Gated Community | $187.00/Sq. Ft.
  7. 2 Arvida Parkway | Sale Price: $6,159,000 | Waterfront and Gated Community | $112.00/Sq. Ft.
  8. 111 San Souci Drive | Sale Price: $950,000 | $55.00/Sq. Ft.
  9. 816 Paradiso Avenue | Sale Price: $600,000 | $71.00/Sq. Ft.
  10. 4940 Hammock Lake Dr. | Sale Price: $1,830,000 | $36.00/Sq. Ft.
  11. 145 Leucadendra Dr. | Sale Price: $7,000,000 | Waterfront and Gated Community | $193.00/Sq. Ft.
  12. 0 Cantoria Ave | Sale Price: $650,000 | $59.00/Sq. Ft.
  13. 0 Calibira Ave | Sale Price: $490,000 | $75.00/Sq. Ft.
  14. 12 Sorolla Ave | Sale Price: $470,000 | $62.00/Sq. Ft.
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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Top Broker In Coral Gables | EWM Realty International Ranks #1

August 26th, 2014 Written By


Categorized under Coral Gables Real Estate

Top Broker In Coral Gables

With so many real estate brokerage firms out there, it can be hard to find the best company who will give your home the most exposure and offer the best service.  I am proud to announce that my firm, EWM Realty International, is the #1 top choice for buyers and sellers in Coral Gables.  Check out the chart above which shows that we dominate the Coral Gables real estate market.

How do we do it? We combine traditional marketing channels and cutting edge strategies to reach maximum exposure.  Through our affiliation with Christie’s Great Estates we have a network of more than 25,000 agents across 40 countries offering an unmatched level of global viability.   Our listings are also showcased on LuxuryPortfolio.com which is an award-winning website marketing over 25,000 listings and featuring more $1,000,000+ homes than competitor sites.

For our buyers, EWM Realty International has a relocation team to help streamline the moving process reducing stress, energy and money.

Above all that, we are known for having top-notch, professional agents who will do whatever it takes to help you find the right home, or get yours sold.

If you are interested in learning about the benefit of hiring an EWM real estate agent and would like a no pressure buyer or seller consultation, please contact me directly at 305-342-1623 or send me a message here.

Pocket Listing In North Gables!

August 21st, 2014 Written By


Categorized under Coral Gables Real Estate

Coral Gables Home For Sale

I wanted to give our blog reader’s the first opportunity at a Coral Gables listing we have coming online after Labor Day.  This great North Gables home has tons of curb appeal. The home offers 3 bedrooms, 2 bathrooms and brand new hardwood floors.  Please call our luxury real estate specialist Liz Perdigon at 786-543-5777 if you would like more information.

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.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

Coral Gables Waterfront Homes | Market Update

August 19th, 2014 Written By


Categorized under Coral Gables Waterfront Homes

Coral Gables Waterfront Homes

I was doing an analysis of Coral Gables waterfront homes for a client of mine and created these charts to show him where the market has been over the past few years.

As you can see, prices are up significantly this year and have made a nice recovery from the drop we experienced in 2013. Right now Coral Gables waterfront homes are selling over $600.00/square foot.  These are some of the highest average figures we have seen in the history of Coral Gables real estate.  Keep in mind that prices can vary drastically depending on the type of waterfront home you are looking for.  Homes that have direct bay views, for example, are selling over $800.00/square foot while those with limited ocean access can come in as low as $400.00/square foot.

Coral Gables Waterfront Homes In Coral Gables

The market is changing rapidly and it is more important than ever to use a knowledgeable, experienced Realtor.  If you are interested in setting up a buyer or seller meeting with us, please contact me directly at 305-342-1623 or send us a message here. 

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