Number Of Coral Gables Waterfront Home Sales Down, But Prices Are Up

July 27th, 2016 Written By


Categorized under Coral Gables Waterfront Homes

Waterfront Homes In Coral Gables Chart 1

Today I ran the numbers for waterfront properties in Coral Gables and found some interesting stats. Since the beginning of 2015, sales of waterfront homes in Coral Gables has significantly slowed down. On the flip side, values have increased at a steady pace for this segment of the market. The fact that sales have slowed down as prices have risen is not surprising. Buyers tend to get cold feet when they see prices increasing in such a short period of time. This also

Coral Gables Waterfront Homes Chart 2

There are currently 72 waterfront properties on the market in Coral Gables.  These are listed for an average price of $6,000,000 and $889/square foot. Values for waterfront homes vary dramatically depending on whether or not the property is in a gated community, what type of access it has to the bay (bridges or no bridges) and the condition & size of the home. For a list of waterfront homes in Coral Gables click here.

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.

Significant Sale: French Village Home Sells For $1,775,000

June 29th, 2016 Written By


Categorized under Coral Gables Real Estate

French Village, Coral Gables

George Merrick was the founder of the City Of Coral Gables back in the early 1900’s. His original architectural plan for Coral Gables included Spanish and then Mediterranean style homes. However he later expanded his vision to include 7 “villages” scattered all over the city which would lure northerners with their unique architectural style. The 7 villages include: The French Normandy Village, The Chinese Village, The Pioneer Village, The Italian Village, French City Village, French Country Village and lastly the Dutch South African Village. Homes that are located in these communities are highly desirable and certainly sell for a premium compared to similar homes in their areas.

French Village, Coral Gables

The residence located at 1017 Hardee Road in the French Country Village has recently sold for $1,775,000 or $528.00/square foot. The home offered 4 bedrooms, 3.5 baths on a 5,000 square foot lot. Built in 1925, the home had been restored to perfection. Broker was Grove Properties.

French Country Village Market Update:

  • The last sale in the French Village was located at 508 Hardee Road and sold for $1,682,500 or $556.00/square foot.
  • There are currently no homes for sale in the French Village.

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.

Homes In Snapper Creek Lakes Continue To Increase In Value

June 21st, 2016 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

Snapper Creek Lakes Chart 1

Snapper Creek Lakes Chart 2

Although values in certain segments of the Coral Gables real estate market have flattened, we continue to see an increase in prices for homes sold in the gated community of Snapper Creek Lakes. Snapper Creek Lakes is a highly sought after gated community located west of Old Cutler Road. Homes here are very large and situated on over-size lots. Values have increased by 72% since 2012 which is great news for residents of Snapper Creek Lakes!

List prices in Snapper Creek Lakes typically range from $2,000,000 – $5,000,000 and generally have 5-10 sales every year.

Check out the 2016 sales in Snapper Creek Lakes:

  • 10101 Sabal Palm Avenue | 7 Bedrooms, 8 Baths | 11,758 Sq. Ft. LA | 74,980 Sq. Ft. Lot | Sale Price: $8,400,000 | SP/Sq. Ft.: $588.00
  • 5250 Snapper Creek Road | 7 Bedrooms, 7 Baths | 9,997 Sq. Ft. LA | 49,658 Sq. Ft. Lot | Sale Price: $5,762,500 | SP/Sq. Ft.: $576.00
  • 10400 Coral Creek Road | 5 Bedrooms, 4 Baths | 4,074 Sq. Ft. LA | 52,708 Sq. Ft. Lot | Sale Price: $2,725,000 | SP/Sq. Ft.: $668.00
  • 10500 Snapper Creek Road | 4 Bedrooms, 3 Baths | 4,362 Sq. Ft. LA | 53,579 Sq. Ft. Lot | Sale Price: $2,637,500 | SP/Sq. Ft.: $604.00

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.

Two New Developments Coming To Coral Gables | Biltmore Parc & Beatrice Row

May 24th, 2016 Written By


Categorized under Coral Gables Condos, Coral Gables Townhouses

After years without any large scale development in Coral Gables, there are now multiple residential projects in the pipeline. Two that I am very excited about are Biltmore Parc and Beatrice Row. Below are the details and information on each of these unique projects.

Biltmore Parc, Coral Gables

Biltmore Parc rendering 1
Biltmore Park rendering 2

Biltmore Parc has a great location just steps from downtown Coral Gables. The boutique building consists of 32 residences (2/2; 2/2.5 +den; 3/3.5 +den), with large expansive terraces featuring Nanawall folding glass, European style kitchens with German appliances, walk in laundry room in every unit, over-sized spa inspired bathrooms with separate shower and tub and walk in closets. The building will be 5 stories high, and reflect the historic architecture of Coral Gables with a modern twist. Residents will benefit from 24/7 concierge service and a one year membership to The Club at the Biltmore.

Beatrice Row, Coral Gables

Beatrice Row

Beatrice Row is located on an entire block in the Biltmore area of Coral Gables. It will be 9 townhouses that are 3 levels each. The townhouses were inspired by the elegant and fashionable townhomes of London, New York and Boston. MG Developer Miami is working with the internationally recognized architectural firm de la Guardia Victoria Architects and Urbanists (DLGV Architects) based in Coral Gables. DLGV Architects’ design of luxury residential projects in Florida and The Bahamas have been featured in Architectural Digest, Home & Design, Period Home, Metropolitan Home, Coastal Living, Veranda and Southern Living.

For more information on either of these new construction projects, please contact me at 305-342-1623 or send me a message here. 

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

Gables Chart z

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.

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