Coral Gables Condos Category
Demand Dwindles For Luxury Condos In Coral Gables
As I reported earlier this year, the luxury condo market in Coral Gables is struggling. Although there is plenty of inventory in this segment of the market, there has only been 1 closed condo sale over $1,000,000 in 2013.
With all of the high-end condos that have gone up on Brickell (and the rest of Miami), it makes you wonder whether buyers are being lured away from Coral Gables to the newer buildings that have all the bells and whistles.
What’s the difference between the two markets? A $1,500,000 unit in The Gables Club (Coral Gables’ premiere luxury condo building) buys you 3 bedrooms, 3 baths with 2,950 square feet of living space and water views. Whereas a $1,500,000 condo in The Jade or Icon Brickell buys you just 1,900 square feet of living space with water views.
Although Gables condos offer larger square footage for the price, the newer condos on Brickell tend to offer more amenities that some buyers may be drawn to.
If you are interested in working with a Realtor who specializes in the Coral Gables real estate market, please contact me at 305-342-1623 or send me a message 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:
http://www.TheRealEstateCoconut.com
http://www.BrickellCondoBlog.com
The Gables Club And The Luxury Condo Market In Coral Gables
The Gables Club had a very strong year during 2012 with an average selling price per square foot of $443.00 and 12 total sales. However we are almost finished wtih the first quarter of 2013 and there are no pending sales in the building and there have been no closed sales. In fact, the luxury condo market as a whole is struggling in Coral Gables. There have been 55 condo sales and the highest sale price is $705,000.
It will be interesting to see if this is just a temporary trend or if this segment of the market remains stagnant throughout the rest of the year. Whatever the outcome, I will keep you posted here on The Coral Gables Real Estate Vault.
If you are interested in buying or selling a historic home in Coral Gables, please feel free to call me directly at 305-342-1623 or send me a message 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
Merrick Manor | New Construction Condos In Coral Gables
Click image above to scroll through Merrick Manor brochure.
You may have noticed the demolition and construction going on at the corner of Le Jeune Road and Bird Road. This is the newest large scale real estate development in Coral Gables in the past 5 years. Condo prices here range from $250,000 and go up to $1,000,000. Finishes will include Snaidero cabinetry, Bosch appliances, Sub-Zero refrigerators along with white quartz counter-tops and marble throughout the bathrooms. According to the sales associates for the project, they have already sold 100 units.
Merrick Manor is ideally located just steps from Merrick Park and minutes from Miracle Mile.
If you are interested in learning more about this project, please send me a message here.
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
3 New Listings Hit The Market In The Gables Club!
In just the past 7 days there have been 3 new listings to come on the market in the building. Residents at The Gables Club must have heard the good news about values in the building! (Read my recent post about the increase in prices at The Gables Club here).
View details of the new inventory below.
- 60 Edgewater Drive, PH 3F | Listed For $1,895,000 | 3 Bedrooms, 3.5 Baths | Water Views
- 60 Edgewater Drive, 6G | Listed For $1,699,000 | 2 Bedrooms, 3 Baths | Water Views
- 10 Edgewater Drive, 3E | Listed For $1,350,000 | 3 Bedrooms, 3.5 Baths | Garden View
If you are interested in learning more about The Gables Club or would like to view the condos available for sale, please don’t hesitate to contact us.
We know the numbers and track the market. If you are a buyer or seller and are looking for a Realtor who specializes in Coral Gables, please contact us directly at 305-342-1623 or send us a message 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
The Gables Club Ends 2012 With Strong Numbers!
The Gables Club suffered from some below average sales in 2011, but I am happy to report that in 2012 they made a solid recovery with sales prices coming in at an average of $443.00 per square foot. These numbers are in line with similar positive trends we are experiencing across the Miami condo market (Read: Record Breaking $27 Million Condo Sale on Miami Beach).
Below are the 2012 sales at The Gables Club:
- 10 Edgewater Drive, #3E | 2,960 Sq. Ft. | Sale Price: $1,200,000
- 10 Edgewater Drive, #7E | 2,960 Sq. Ft. | Sale Price: $1,065,000
- 10 Edgewater Drive, #10C | 2,970 Sq. Ft. | Sale Price: $1,695,000
- 10 Edgewater Drive #15F | 2,950 Sq. Ft. | Sale Price: $1,510,000
- 10 Edgewater Drive #15AC | 7,500 Sq. Ft. | Sale Price: $4,950,000
- 60 Edgewater Drive #3E | 3,100 Sq. Ft. | Sale Price: $1,290,000
- 60 Edgewater Drive #3G | 2,960 Sq. Ft. | Sale Price: $849,900
- 60 Edgewater Drive #4G | 2,960 Sq. Ft. | Sale Price: $1,050,000
- 60 Edgewater Drive #4H | 2,960 Sq. Ft. | Sale Price: $925,000
- 60 Edgewater Drive #9C | 3,100 Sq. Ft. | Sale Price: $1,603,000
- 60 Edgewater Drive #11D | 3,165 Sq. Ft. | Sale Price: $1,425,000
- 60 Edgewater Drive #16F | 3,165 Sq. Ft. | Sale Price: $1,475,000
To view what is currently available in The Gables Club, click here.
If you are a buyer or seller and are looking for a Realtor who specializes in Coral Gables, please contact us directly at 305-342-1623 or send us a message 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
Coral Gables Condo Market Update
I created the below charts which demonstrate the distribution of condo sales in Coral Gables for the past two years. We are in the middle of October and we have already sold more condos in 2012 than we did in 2011. If you look at the chart you will see more of an increase in the $250,000 – $500,000 condo sales in 2012 and perhaps a slight slowdown in the number of $250,000 and under condos.
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!
Deering Bay Condo Market Update | Sales Up, Prices Up
Deering Bay is a gated waterfront community located in the southern end of Coral Gables. The real estate market in Deering Bay consists of mid-rise condo buildings, villas as well as single family homes. Located on a natural reserve, the community offers 2 miles of direct waterfront land. As a Deering Bay resident you have the option of joining the Deering Bay Yacht and Country Club which gives you access to the 18 hole Arnold Palmer Golf Course, 7 lighted Har-Tru tennis courts, fitness center, junior Olympic size pool plus the Club’s member events.
So far in 2012 there have been 10 condo sales (4 currently pending) in the gated community of Deering Bay. Considering that there were 6 sales during all of 2011, 5 during 2010, it seems that the market has certainly gotten better for condo residents here. As you can see from the chart below, values are also on the rise in the community. This year, the average “sale price per square foot” for condos hit $348.00, which is higher than we have seen in a few years.
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!
Reason To Celebrate! Another GREAT Sale For Condo Owners At Gables Club
If you read my most recent Gables Club Market Update you know that prices are on their way up at The Gables Club. I am happy to report today that another sale just came across the MLS which will further increase values at the two towers. Unit 10C just closed for $1,695,000 or $570.00 per square foot bringing the year’s average up to $445.00 per square foot (well over the $334.00 psf they experienced in 2011).
If you are interested in buying or selling a condo in The Gables Club, please feel free to contact us. We’d love the opportunity to work with you.
Click here to view all condos for sale at The Gables Club.
With over 70 transactions and $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 305.960.5318 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!
The Gables Club Market Update
The Gables Club located on Edgewater Drive is the premiere luxury condo building in Coral Gables. Thanks to a few solid sales earlier this year we have seen the average “price per square foot” figure jump up from last year’s low at $334.00. Currently, the average selling price per square foot in the building is $420.00.
Check out these transactions which have helped boost values at The Gables Club:
- 10 Edgewater Drive #15 A/C | Sale Price: $4,950,000 | Sale Price Per Square Foot: $660.00
- 60 Edgewater Drive #9C | Sale Price: $1,603,000 | Sale Price Per Square Foot: $517.00
- 60 Edgewater Drive #11D | Sale Price: $1,425,000 | Sale Price Per Square Foot: $450.00
Click here to view Condos For Sale in The Gables Club.
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.
Double Unit Sells In The Gables Club For $5,300,000
A double unit on the 15th floor of The Gables Club closed recently for a sales price of $5,300,000. This is the highest sale we have seen in The Gables Club in the past 12 months, and the second highest sale in the past 24 months (in 2010 a penthouse closed for $9,000,000). The unit offered incredible ocean views, 7,500 square feet of living space with interior design by Holmes, Newman and Partners, music gallery, master suite, guest wing with 3 bedrooms plus much more.
In my recent post The Gables Club, 2012 Market Update I mentioned that once this property closed it would help boost the average “sale price per square foot” figures in building. With this closed sale, we are looking at an average selling price per square foot of $439.00 which is back to 2010 numbers (2011 had an average of $377.00).
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in buying or selling a home in Coral Gables I would be happy to meet with you for a no pressure consultation. Please feel free to contact me directly at 305-342-1623 or send me a note here.