2 Recent Coral Gables Sales By The Riley Smith Group!

July 31st, 2015 Written By


Categorized under Coral Gables Real Estate

604 Alcazar Avenue, Coral Gables

Although we are in the summer doldrums, our office has been staying busy! We recently closed on 2 of our listings in Coral Gables. Immediately upon listing 604 Alcazar Avenue we had a flurry of activity.  The showing requests poured in and we had multiple offers within a matter of days.  The home sold above asking price for $669,000.  This property offered 3 bedrooms, 1 full bath, 1 half bath with 1,866 square feet of living space on a 5,000 square foot lot.  Originally from 1924, the home had a renovated kitchen, 10′ ceilings, wood floors, fireplace and a formal living and dining room. Jessica Adams of The Riley Smith Group represented the sellers.

3271 Riviera Drive, Coral Gables

Our second recent sale was located at 3271 Riviera Drive in The Golden Triangle area of Coral Gables. This was an off-market sale, we sold the property before it came on the MLS. The home offered 3 bedrooms, 2 baths with 2,053 square feet of living space on a 10,100 square foot (double) lot. It sold for $850,000.  Some of the special features included a renovated kitchen, wood floors, pool surrounded by lush gardens and Chicago brick driveway. Liz Perdigon of The Riley Smith Group represented the sellers.

Homes priced under $1,000,000 are flying off the market right now in Coral Gables. In fact, during 2015 homes priced under $1,000,000 in Coral Gables took just 75 days to close (on average), as opposed to homes priced over $1,000,000 which took 145 days to close (on average).

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.

Sellers Who Bought Just 1 Year Ago See A Nice Return On Investment

July 17th, 2015 Written By


Categorized under Coral Gables Real Estate

We all know that the market has gone up in the past year. On average, homes in Coral Gables have increased from $374.00/square foot in 2014 to $398.00/square foot in 2015 (an increase of 6%).  Sometimes it is easier to see an actual example of specific properties increasing in value.  Today I am showing you two different properties that sold twice within 12 months. They both garnered a significantly better price the second time around, with no major improvements or renovations to the properties being made.

Aduana

924 Aduana Avenue, Coral Gables

  • Sold in 2014 for $1,570,000 | Sold in 2015 for $1,750,000
  • Increase in value of 11%
  • 4 Bedrooms, 3 Baths
  • 4,188 Square Feet Of Living Area
  • 15,378 Square Foot Lot
  • Agent: Francisco Paz of Paz Realty

land in coral gables

3226 Riviera Drive, Coral Gables (Land Value)

  • Lot sold in 2014 for $750,000 | Lot sold in 2015 for $1,000,000
  • Increase in value of 33%
  • 15,000 square foot lot
  • Agent: Issam Shalhoub of Avanti Way

Of course I can’t guarantee that every home has increased in value over the past year.  We are seeing values increase by varying amounts depending on the type of home you have and its location. If you are interested in learning more about the value of your home in today’s changing market, please feel free to contact us. We would be happy to provide you with a no pressure home valuation and share with you the most recent comparables.

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.

Under Contract In 3 Days! 604 Alcazar Avenue Receives Multiple Offers

July 2nd, 2015 Written By


Categorized under Coral Gables Real Estate

Alcazar-28

The Coral Gables real estate market may be slower right now than years past, but when you have a great listing that is perfectly priced it will still sell fast! Jessica Adams from The Riley Smith Group recently listed the home at 604 Alcazar Avenue. This property was built in 1924 and was nicely updated and restored with attention to detail. Located on a tree-line street within walking distance to the Coral Gables city center, it featured 10′ ceilings, wood floors, custom mill-work, light filled rooms and a rooftop terrace.  604 Alcazar Avenue offered 3 bedrooms, 1.5 baths with 1,866 square feet of living space on a 5,000 square foot lot and was listed for $669,000.

Alcazar-3

Alcazar-25

We received several offers on the property and placed it under contract within just 3 days! Congratulations to Jessica and the sellers on their quick sale!

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.

Just Listed In Coral Gables – Waterfront Villa With 4 Dock Spaces!

June 12th, 2015 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 new 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: $3,790,000

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.

Coral Gables Real Estate Market Update

June 8th, 2015 Written By


Categorized under Coral Gables Real Estate

The Biltmore Hotel

As we approach the middle of the year, I wanted to provide you with a Coral Gables real estate market analysis.  All in all, I see a healthy market here; the number of sales are down but we have seen a bump in prices since 2014.  Coral Gables has had 220 single family homes sold so far in 2015 at an average “sale price/square foot” of $398.00.  During 2014, there were 551 single family home sales which sold at an average “sale price/square foot” of $374.00.

Pending sales give you a good indication of where the market is heading in the coming months.  There are 84 homes under contract listed at an average “list price/square foot” of $403.00.  Right now the “Sale Price/List Price” ratio is running at 93% in Coral Gables, so we can figure that these homes will sell at approximately $374.00/square foot which is slightly below the average for the year.

To date, 56% of the sales in Coral Gables have closed under $1,000,000. There is not much change in that figure from the previous year which came in at 60%.  The $1,000,000 and below price point is certainly the most active segment of the Coral Gables market and where we tend to see homes sell in the quickest amount of time.

There are currently 324 single family homes for sale in Coral Gables.  The inventory is split between 40% priced under $1,000,000 and 60% priced above $1,000,000.

As always, stay tuned to The Coral Gables Real Estate Vault for updates on significant sales, market trends and new listings!

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.

Alan Potamkin’s Home Hits The Market In Gables Estates | Listed For $67,000,000

May 15th, 2015 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

1 Casuarina Concourse, Gables Estates

Alan Potamkin, the owner of Potamkin Companies (who has an estimated net worth of over $150 million), has listed his Gables Estates home for $67,000,000. Located at 1 Casuarina Concourse, the home offers 9 bedrooms, 10 baths with 20,862 square feet of living area on 3.6 acres of waterfront land (937 feet of water frontage).  Some of the special features include a gym, game room, nanny’s quarters, tennis court, pool, guest house, private beach and boat dock with space for a 160 foot boat. The property is listed by The Jills of Coldwell Banker.

This is the second highest priced listing currently on the market in Miami-Dade County.

Insider Notes: Potamkin purchased the lot for $2,000,000 back in 1987 and built his current home in 2000.  His ex-wife, Claudia Potamkin recently sold her condo at The Grovenor House in Coconut Grove for $8,100,000.

1 Casuarina Concourse, Gables Estates

1 Casuarina Concourse, Gables Estates

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.

Off-Market Property For Sale In The Golden Triangle | The Riley Smith Group

May 13th, 2015 Written By


Categorized under Coral Gables Real Estate, The Golden Triangle

Golden Triangle

I wanted to let my blog readers know about our newest off-market property which is available for sale in the coveted area of  “The Golden Triangle” in Coral Gables. This is a great 3 bedroom, 2 bath home with 2,000 square feet of living area on a 10,000 square foot lot.  Some of the special features include a remodeled kitchen, large walk-in closet in the master bedroom, dual sinks in the master bath, formal living and dining room and pool.  If you are looking for a home with these specifications but have exhausted everything that is currently on the market, then you should definitely take a look at this property. Once it hits the market, it will sell fast!

For more information please call Liz Perdigon of The Riley Smith Group at 786-543-5777.

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.

1020 Placetas Avenue Sells For Full List Price

May 6th, 2015 Written By


Categorized under Coral Gables Real Estate

Placetas 1

When 1020 Placetas Avenue hit the market back in March, I knew that it would sell fast and close to asking price. The home offered 2,571 square feet of living space on a 10,238 square foot lot with 3 bedrooms, 3 baths. It was being offered for $1,429,000. The house was turn-key ready, located on a great street, and priced perfectly. The combination of those 3 things at any price point will create a lot of interest.

After just 5 days on the market, the home was under contract.  It closed this week for full asking price of $1,429,000. Listing agent was Cecilia Samaja of One Sotheby’s.

Placetas 2

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.

Highest Sale Price In “Old Cutler Bay” In Over 4 Years

May 5th, 2015 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

Gallardo

The gated community of Old Cutler Bay has had a great start to 2015 with some very pricey sales.  There have been 3 homes closed since January 1st totaling nearly $15,000,000 in volume.  Another impressive figure is the sale of 9320 Gallardo Street which traded for $8,350,000 – the highest sale price in Old Cutler Bay in over 4 years.  Listing agent was Toni Schrager of Avatar.

Old Cutler Bay is a very prestigious gated community with spectacular waterfront homes situated on large lots. It is one of the smaller gated communities in Coral Gables, and therefore we typically see a low amount of turnover.  Last year there were 8 homes sold, with an average sale price of $3,615,000.

View the list of homes sold in Old Cutler Bay so far in 2015:

  • 9320 Gallardo Street | 8 beds/8.5 baths | 9,365 Sq. Ft. LA | Built in 2007 | Sale Price: $8,350,000
  • 60 Solano Prado | 4 beds/4.5 baths | 5,032 Sq. Ft. LA | Built in 1973 | Sale Price: $3,790,000
  • 605 Solano Prado | 3 beds/3.5 baths | 3,859 Sq. Ft. LA | Built in 1982 | Sale Price: $3,250,000

Check out homes currently for sale in Old Cutler Bay below:

  1. 5 beds, 5 full, 1 part baths
    Home size: 4,463 sq ft
    Lot size: 17,327 sqft
    Year built: 1969
    Parking spots: 2
    Days on market: 22
  2. 7 beds, 6 full, 1 part baths
    Home size: 7,096 sq ft
    Lot size: 32,246 sqft
    Year built: 2001
    Parking spots: 3
    Days on market: 142
  3. 4 beds, 3 full baths
    Home size: 3,573 sq ft
    Lot size: 21,420 sqft
    Year built: 1970
    Parking spots: 2
    Days on market: 227

See all Old Cutler Bay, Coral Gables Gated Community.
(all data current as of 9/4/2015)

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

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.

Just Listed By The Riley Smith Group! 6002 Cellini Street

April 29th, 2015 Written By


Categorized under Coral Gables Real Estate

Cellini Collage

Another Coral Gables home listed by The Riley Smith Group! 6002 Cellini Street is a fantastic property which has been completely rebuilt and expanded with top of the line features and finishes. It offers expansive and light filled living spaces with 24 x 24 travertine marble flooring and a luxurious master suite with marble bath. The spectacular chef’s kitchen has custom cabinetry and an 8 burner Wolf gas range with 2 ovens.  French doors lead out to a covered terrace, pool and tropical gardens which surround the home.

This home is listed by Bea Citron of The Riley Smith Group. If you would like more information about this home, or would like to schedule a showing, please contact Bea at 305-606-7993 or you can send us a message here.

Details of 6002 Cellini Street, Coral Gables:

  • 6 Bedrooms, 4 Full Bathrooms, 1 Half Bathroom
  • 3,936 Square Feet Of Living Area (+ recent expansion)
  • 15,000 Square Foot Lot
  • 2 Car Garage
  • Offered at: $2,250,000

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.

Copyright ©     Log in     Design by Real Estate Tomato     Powered by Tomato Real Estate Blogs