A non-waterfront home has just closed in the guard-gated community of Cocoplum for $3,600,000. Located at 295 Vistalmar Street, this is the highest non-waterfront sale that Coral Gables has seen in the past 6 months. This sale is significant because it is a very high price for a home on a dry lot in Coral Gables. This property had been completely renovated in 2009, and offered 6,350 square feet of living space on a 30,012 square foot lot. It had floor...Continue Reading!
There have only been 2 closed sales at The Gables Club during the first quarter of 2015. Although sales may be slow, the average "sale price/square foot" on these units were high compared to the sales during 2014. As you can see from the chart below, the average "sale price/square foot" for 2015 has come in at $631.00. Buyers are drawn to The Gables Club because it is in a great waterfront location and has incredible 5 star amenities such as...Continue Reading!
Hammock Oaks is a quiet, family friendly gated-community situated off of Old Cutler Road in Coral Gables. When you enter Hammock Oaks you will notice right away the lush vegetation that surrounds the homes and two large lakes which are the focal point of the community. While many of the homes are waterfront, they do not have access to the open water. However, there are some homes that come with a community dock space which does provide ocean access. There have...Continue Reading!
The land market is extremely active in Coral Gables right now. We recently placed our property at 5030 Orduna Drive in the Gables on the market for land value and had multiple offers within a matter of days. There are tons of investors out there who want to build new construction projects and capitalize on rising values. Due to low inventory and high demand, the average price of land in the Gables has risen to approximately $60.00/square foot for a...Continue Reading!
Some people believe that the market has cooled off in the past couple of months. Sales may be down slightly, however there are still plenty of buyers out there who are ready to jump on a good opportunity when they see one. So far in 2015, there have been 16 homes which have closed at or above asking price in Coral Gables. That doesn't sound like a slow market to me! (Last year during the same time period there were only...Continue Reading!
Today I would like to introduce you to Biltmore Parc - an exciting new condo project coming to Coral Gables. Located at 718 Valencia Avenue, Biltmore Parc is just steps from the Granada golf course and the Biltmore Hotel. These condos are going to be Mediterranean inspired and modernly designed. They will offer a contemporary open-plan interior layout with tons of natural light. Every unit will feature a NanaWall (folding glass walls) opening to the terrace which allows for true...Continue Reading!
If you follow the real estate market in Miami, then you know that recently there has been one luxury home sale after another. First, news broke that a $30 million home was sold on Indian Creek, earlier this week a home sold in Coconut Grove for $11,000,000 and now in Coral Gables a home in the exclusive gated community of Gables Estates has closed for $17,200,000. The home in Gables Estates was located at 555 Leucadendra Drive offered 6 bedrooms and...Continue Reading!
When the home located at 821 Obispo Avenue hit the market for $543,000, it received a flurry of activity and offers. Not only was this home listed for under $600,000 but it was a bank owned property - which only increased buyer's interest. Not surprisingly, the home went under contract in less than 7 days. The home closed well over asking price this week at $580,274 (cash deal). Many buyers these days still hope to snag one of these elusive foreclosures....Continue Reading!
Ask any Realtor and they will tell you that Zillow is the bane of their existence. 1 out of every 2 listing appointments that I go on, I am asked about a property's Zestimate on Zillow. I think that Zillow works great in some markets where homes don't vary much by price, style, condition and age. But for areas like Coral Gables where every home is so unique, I believe that Zillow gets it wrong most of the time. For...Continue Reading!
Miracle Mile, one of Coral Gables most recognizable shopping areas, will be getting a complete makeover in the coming months. The City of Coral Gables has hired Cooper, Robertson and Partners of New York to design a more pedestrian friendly street with wider sidewalks, garden areas, more trees, and to install better lighting and new public artworks. The project will cost $20 million with half of the money coming from the city and the other half from business owners along...Continue Reading!