Buying Real Estate In Coral Gables Category
838 Milan Avenue Under Contract!
I am happy to announce that our beautiful listing at 838 Milan Avenue in Coral Gables has gone under contract. The buyers have completed their due diligence and at this point we are just waiting to close. This home offered 2,764 square feet of living space on a 13,678 square foot lot and was listed for $949,000.
As I mentioned in my recent Coral Gables Pending Sales Report, the market is hot for those $1,000,000 and below homes. Unfortunately the supply of Coral Gables homes is out of line with the demand. Although it is the most active segment of the market, only 38% of homes for sale in Coral Gables are listed under $1,000,000.
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Don’t Miss Today’s News From Our Other Real Estate Blogs:
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Now For The Good News….
After yesterday’s news about the falling values of pending home sales in Coral Gables, I thought I would post something today to lift everyone’s spirits.
You may remember that 2011 was a record breaking year in terms of number of sales as well as volume sold of real estate in Coral Gables. I am thrilled to report that we have now exceeded those numbers for 2012!! With a few weeks left in the year, Coral Gables has had 504 single family home sales compared to 476 homes sold during all of 2011. We are also ahead on volume with $583,603,811 sold in Coral Gables as of December 14, 2012 and just $470,125,208 sold during all in 2011.
Back in March of this year I reported here that we were already ahead of 2011′s numbers in terms of volume but roughly the same in the number of sales. The volume figure had been drastically increased at that time by several ultra-luxury home sales in Gables Estates.
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Don’t Miss Today’s News From Our Other Real Estate Blogs:
http://www.TheRealEstateCoconut.com
http://www.BrickellCondoBlog.com
Highest Non-Waterfront Home Sales In Coral Gables
Although most people would want a home on the water if it was within their budget, there are many buyers out there who understand that they get more land, more house, and more amenities if they spend the same amount of money for a home on a dry lot. Buyers must decide what factors are more important to them and narrow their search accordingly.
I always like to keep an eye on what the market will bear for a non-waterfront luxury home. For the past 4 years, we have seen non-waterfront homes sell as high as $6,600,000. This year appears to be somewhat of an anomaly. The highest non-waterfront single family home sale in Coral Gables traded for $3,375,000. This property was located at 5450 Banyan Terrace and offered 9,578 square feet of living space on a 42,689 square foot lot.
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Don’t Miss Today’s News From Our Other Real Estate Blogs:
http://www.TheRealEstateCoconut.com
http://www.BrickellCondoBlog.com
Something For Everyone In Coral Gables
From Old Spanish cottages to contemporary mansions, Coral Gables has an architectural style to suit everyone’s taste. You certainly won’t find rows of cookie cutter homes here! Check out the below properties that hit the market in Coral Gables in the past 7 days, the two couldn’t be more different!
7150 West Lago Drive | Cocoplum | 5,872 Sq. Ft. LA | 22,300 Sq. Ft. Lot | $4,700,000 | Listed by Avatar
827 Santiago Street | 1,557 Sq. Ft. LA | 5,000 Sq. Ft. Lot | $460,000 | Listed by ReMax
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Don’t Miss Today’s News From Our Other Real Estate Blogs:
http://www.TheRealEstateCoconut.com
http://www.BrickellCondoBlog.com
Got Homes?
Check out the chart above which shows the number of homes for sale in Coral Gables since 2007. At 258 single family homes for sale right now, we are currently seeing the lowest inventory levels in over 5 years. This figure is one reason home values are on the rise. Just this week, 3 of the 7 homes that closed in Coral Gables sold at or above list price.
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Sunrise Harbour Suffering From Lack Of Inventory
I write about the Sunrise Harbour area of Coral Gables quite frequently here on my blog. I find that it is an unknown area for many buyers and I really like how centrally located it is between Coral Gables, South Miami and Coconut Grove. It is also home to some of the least expensive waterfront properties you can find in Coral Gables. The neighborhood has suffered this year (as have most areas in CG) from a severe lack of inventory. Check out the map above which shows that there are just 8 homes for sale in the Surnise Harbour/Sunrise Point areas. Then read my posts written in 2010 and 2011 which show inventory here running anywhere between 20 to 25 homes at any given time: Coral Gables Hot Spot – Sunrise Harbour & Homes For Sale In Sunrise Harbour
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
More Positive Signs For The Coral Gables Real Estate Market
By now you know that the market has drastically changed in Coral Gables from just a few years ago. Prices are up and buyers are buying! Aside from home values increasing, another example of the shift in the market (and buyer mentality) is to look at how many homes have sold at or above list price.
So far in 2012 we have had 44 homes sold at or above list price in Coral Gables. Buyers recognize that in order to secure a home that is priced properly they will have to come in with a strong offer. Of the 44 home sales, 20 were cash deals.
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Riviera Drive In Coral Gables
I wind my way through Coral Gables every morning on my way to take my daughter to school. My favorite part of the drive is when I make the turn off of Miller Road onto Riviera Drive. Riviera is a beautiful street that is wider than most in Coral Gables and it is dotted by massive oak trees along either side. Half of the properties are canalfront (situated on the Coral Gables Waterway) while the other half are located on dry lots. The homes on this section of Riviera Drive are grand with spacious front yards and impeccable landscaping. It is the “mini-me” of Old Cutler Road and doesn’t have nearly the traffic.
There has been 1 home sold this year on the section of Riviera Drive between Miller Road to Hardee Road. The home was listed for $4,650,000 and sold for $4,200,000 back in May. There is currently only 1 home for sale here which is listed for $4,995,000. View more photos and information of that property here. Property listed by Prudential.
We know Coral Gables 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 305.342.1623 or send us a note here.
The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Coral Gables Real Estate | South Of US1
Over the weekend we were out showing Coral Gables homes to some wonderful clients of ours. They are specifically looking in the area south of US1 due to the excellent public school options there. Despite the low inventory levels we were able to find several good options for them. To give you a quick market snapshot of this section of Coral Gables, a typical 3 – 4 bedroom home is selling for approximately $783,000 or $286.00 per square foot.
With over $30,000,000 in sales volume in 2011, 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.
Keep Your Eye On These Coral Gables Homes…
If you read my post yesterday, you know that the $1,000,000 and under market is where the action is in Coral Gables. The below homes just hit the MLS priced in the $500,000′s ($292 to $318 psf) and due to current demand I can pretty much guarantee that they will be under contract within the next few weeks. If you are unsure about the state of the Coral Gables real estate market, track these homes as they go from listed to pending, and finally closed. I will keep you posted on their status here on The Coral Gables Real Estate Vault.
To view photos and information of these properties, click here.
- 1314 Milan Avenue | List Price: $560,000 | 3 BR/2 BA | Listed by Slesnick and Jochem
- 1805 Ferdinand Street (photo above) | List Price: $595,000 | 3 BR/2 BA | Listed by Ashley Cusack of EWM
- 5520 San Vicente Street | List Price: $599,000 | 3 BR/2 BA | Listed by Shelton and Stewart
- 731 Anastasia Avenue | List Price: 574,000 | 2 BR/2 BA | Listed by Sime Realty
With over $30,000,000 in sales volume in 2011, 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.