If you were in town over President's Day weekend, then you know how fantastic the weather here was...crystal clear skies with temperatures in the low to mid 70's. But when you live here full time, it is easy to take our sunny weather for granted. Not only would blizzard conditions and zero degree temperatures put a damper on your weekend plans, but it also slows down the process of getting your home sold! A Realtor friend of mine, Sue Adler, who...Continue Reading!
The home at 2 Casuarina Concourse in the exclusive gated community of Gables Estates has finally closed for $8,642,700. The home was designed by mid-century architect Alfred Browning Parker known for his unique, modern style. The property offered 85,431 square feet of land with 580 square feet of water frontage and was selling for land value. The home was not oriented to take advantage of the water views because it was designed to showcase high-end artwork which would be ruined...Continue Reading!
If you have been looking for a home to completely renovate or land to build a new home, then you will want to check our latest Coral Gables home for sale. The Riley Smith Group has just listed the property at 5030 Orduna Drive in South Coral Gables. This home is located on a rare 12,700 square foot corner double lot. This home is located on a quiet street close to the Riviera Country Club, Biltmore Hotel, Shops of Merrick...Continue Reading!
In case you missed The Miami Herald this weekend, EWM announced its 2014 Top Producers. I am proud and honored that The Riley Smith Group ranked #4 out of 800 agents. We were also the #1 Top Realtors in the Coral Gables office with over $69,000,000 sold and 120 transactions. I would like to thank our fantastic team for helping us reach our goals every year! Our hard-working agents include Dominique Duque, Jessica Adams, Carleen Smith, Liz Perdigon, Bea Citron and...Continue Reading!
Now that the economy has turned around, we are seeing fewer and fewer foreclosures come on the market in Coral Gables. Typically when they do hit the MLS, they are under contract in a matter of days and the buyers are usually investors who offer very favorable terms (i.e. cash and a quick closing!). The property at 6815 Brighton Place came on the market in 2014 as a foreclosure and sold right away for $1,300,299. The home offered 5 bedrooms,...Continue Reading!
An average home in Coral Gables is situated on a lot size between 5,000 and 15,000 square feet. You will find homes in all price ranges located on lots of this size. If you are looking for a home with a larger piece of land (15,000+ square feet), you will find that these homes are listed for over $1,000,000. Insider's Tip! If you do happen upon a home listed under $1,000,000 that comes with a 15,000+ square foot lot, it...Continue Reading!
A piece of land located at 510 Tivoli Avenue closed this week for full price of $1,050,000 (Broker was Avatar). This was an 11,000 square foot lot on a rarely available street in The Platinum Triangle. It closed for $95.00 per square foot which is very high for land in Coral Gables. Typically we see non-waterfront lots in Coral Gables sell for an average of $50.00 per square foot. Take a look at the below spreadsheet of all non-waterfront land...Continue Reading!
As a whole, the Coral Gables real estate market fared extremely well in 2014. In my opinion, there are three things that defined the year; these would be: #1: Low Inventory, #2: Bidding Wars, #3: High Prices. I have created the below charts which show how the Coral Gables real estate market has changed between 2011 and 2014. The numbers depicted show the market as a whole and are also broken down into waterfront vs. non-waterfront sales. The first group of charts...Continue Reading!
We have seen values in Cocoplum rise significantly in 2014. The average "sale price per square foot" climbed from $489.00 in 2013 up to $537.00 in 2014. Although we saw approximately the same number of sales, the total volume sold increased by nearly $10,000,000. Last week the property located at 125 Gavillan Avenue in Cocoplum closed for full price of $2,800,000. This house offered 5,000 square feet of living space with 5 bedrooms, 4.5 baths on a 15,500 square foot lot....Continue Reading!
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...Continue Reading!