Coral Gables Real Estate Category
The home located at 801 Valencia Avenue in Coral Gables sold in 2013 for $830,000. The owners placed the home back on the market just 7 months later for a list price of $950,000 and just closed on it for $940,000. The home completed a major renovation in 2010, but had no significant improvements between 2013 and 2014. I am sure that many people who saw the house balked at paying $100,000 more than what the current owners paid just a year ago. But I...Continue Reading!
For the first time in several years, we have seen 3 consecutive months of increasing inventory in Coral Gables. This trend is likely the result of two contributing factors: More people are putting their home for sale because they want to cash in on increasing home prices. The average "sale price/square foot" has increased from $306.00/sq. ft. in 2012 to $352.00/sq. ft. in 2014. Home sales are down. We are seeing a slight decrease in the number of closed sales from the...Continue Reading!
The area known as Sunrise Harbour is one of my favorite spots in Coral Gables. You have a wide range of properties available from $800,000 ranch style homes, up to luxury, waterfront homes. The neighborhood is centered around the Sunrise Harbour Park which is a great place to exercise, take the kids or go for a walk. It is also very central to the downtown shopping and dining areas of Coconut Grove and Coral Gables. In the past 90 days...Continue Reading!
The property located at 325 Leucadendra Drive in Gables Estates was under construction when it was listed for sale at $10,900,000. The sellers were looking for a buyer who was interested in completing the home to their own taste and style. The property offered 16,311 square feet of living space on a 57,017 square foot waterfront lot with 9 bedrooms, 9 full baths and 2 half baths and was designed by renowned architect Ralph Portuondo. Listed by One Sothebys. Another home...Continue Reading!
Hammock Oaks Harbour is a gated community located just south of Fairchild Gardens off of Old Cutler Road. The community offers both waterfront and non-waterfront homes. There are two types of waterfront homes here: lakefront homes and canal-front homes with ocean access. In contrast to most other gated communities in Coral Gables, you can find move-in ready homes in Hammock Oaks that are in the $1,000,000 - $2,000,000 range. Last year, there were just two homes sold in Hammock Oaks. These...Continue Reading!
I created the charts below which break down some different price points in the Coral Gables real estate market and show their average "sale price per square foot" over the past 4 years. Some interesting points are that values for homes under $1,000,000 have remained relatively stable (declined slightly) since 2013. We have seen a slight increase in value for homes priced between $1,000,000 and $2,000,000, but the most dramatic rise in home prices came from the $2,000,000 and above...Continue Reading!
Our goal at The Riley Smith Group is to help make the buying & selling process as stress free as possible. Many thanks to our recent clients Susan and Chuck Vodicka for their kind recommendation: “Riley Smith was superb to work with from beginning to end. He was generous with his time, honest and smart, truly a seasoned professional. The whole RS Group were incredibly helpful in getting our property ready to sell and in flawlessly managing the process of showing...Continue Reading!
Luxury homes are a completely different animal when it comes to real estate in Coral Gables. They sell at a different pace, are valued in a different way and are marketed in a unique manner. Homes which have closed for over $3,000,000 in Coral Gables sold in an average of 218 days on the market. This number is significantly higher than the average home in Coral Gables which sells in approximately 89 days. Sellers should be warned that even though the...Continue Reading!
The neighborhood known as “Little Gables” is bordered on 3 sides by the City of Coral Gables but is technically located in un-incorporated Miami-Dade County. Little Gables looks and feels just like Coral Gables but the price points are much lower and buyers tend to get more for their money. We just listed a great starter home in Little Gables located at 4453 SW 13th Terrace. This home offers 3 bedrooms, 2 baths with 1,486 square feet of living space on a 6,675 square foot lot. Special features include...Continue Reading!
If you are considering selling your Coral Gables home then I have good news for you! Coral Gables homes are selling faster than ever before. Due to low inventory levels and high demand, homes are getting sold in an average of 80 days. You can see from my chart above that this number is part of a trend of decreasing "days on the market". As we see homes selling faster, we are also seeing the average "sale price/sq. ft." rise. These...Continue Reading!