Coral Gables Real Estate Category
With the average home in Coral Gables selling for $1,000,000, I thought it would be interesting to show you what you can get in Coral Gables for that price. Below you will find a list of homes that closed between $900,000 and $1,100,000 this year, these are representative of the typical properties that are trading in Coral Gables in today's market. As you can see, the number of bedrooms range from 3-5, living area ranges from 2,000 - 3,000 sq....Continue Reading!
Although values are on the rise in Coral Gables, many sellers start off with a list price that is too high and end up reducing the property before it sells. Out of the 405 homes sold in Coral Gables this year, 33% had to have price reductions before selling. When you break the numbers down even more, it seems that the $1,000,000 and below sellers are the most optimistic as there were 84 price reductions in that segment, while there...Continue Reading!
When I take a look at what is currently for sale and what has closed in 2015, I notice a large imbalance between the supply and demand of homes in Coral Gables. Right now there are 331 active listings which are made up of 119 priced under $1,000,000 and 212 priced over $1,000,000. You can see that the majority of homes on the market are listed over $1,000,000. When you compare those figures to what has sold this year you will...Continue Reading!
Although we are in the summer doldrums, our office has been staying busy! We recently closed on 2 of our listings in Coral Gables. Immediately upon listing 604 Alcazar Avenue we had a flurry of activity. The showing requests poured in and we had multiple offers within a matter of days. The home sold above asking price for $669,000. This property offered 3 bedrooms, 1 full bath, 1 half bath with 1,866 square feet of living space on a 5,000...Continue Reading!
We all know that the market has gone up in the past year. On average, homes in Coral Gables have increased from $374.00/square foot in 2014 to $398.00/square foot in 2015 (an increase of 6%). Sometimes it is easier to see an actual example of specific properties increasing in value. Today I am showing you two different properties that sold twice within 12 months. They both garnered a significantly better price the second time around, with no major improvements or...Continue Reading!
The Coral Gables real estate market may be slower right now than years past, but when you have a great listing that is perfectly priced it will still sell fast! Jessica Adams from The Riley Smith Group recently listed the home at 604 Alcazar Avenue. This property was built in 1924 and was nicely updated and restored with attention to detail. Located on a tree-line street within walking distance to the Coral Gables city center, it featured 10' ceilings, wood...Continue Reading!
As we approach the middle of the year, I wanted to provide you with a Coral Gables real estate market analysis. All in all, I see a healthy market here; the number of sales are down but we have seen a bump in prices since 2014. Coral Gables has had 220 single family homes sold so far in 2015 at an average "sale price/square foot" of $398.00. During 2014, there were 551 single family home sales which sold at an...Continue Reading!
Alan Potamkin, the owner of Potamkin Companies (who has an estimated net worth of over $150 million), has listed his Gables Estates home for $67,000,000. Located at 1 Casuarina Concourse, the home offers 9 bedrooms, 10 baths with 20,862 square feet of living area on 3.6 acres of waterfront land (937 feet of water frontage). Some of the special features include a gym, game room, nanny's quarters, tennis court, pool, guest house, private beach and boat dock with space for...Continue Reading!
I wanted to let my blog readers know about our newest off-market property which is available for sale in the coveted area of "The Golden Triangle" in Coral Gables. This is a great 3 bedroom, 2 bath home with 2,000 square feet of living area on a 10,000 square foot lot. Some of the special features include a remodeled kitchen, large walk-in closet in the master bedroom, dual sinks in the master bath, formal living and dining room and pool....Continue Reading!
When 1020 Placetas Avenue hit the market back in March, I knew that it would sell fast and close to asking price. The home offered 2,571 square feet of living space on a 10,238 square foot lot with 3 bedrooms, 3 baths. It was being offered for $1,429,000. The house was turn-key ready, located on a great street, and priced perfectly. The combination of those 3 things at any price point will create a lot of interest. After just 5 days...Continue Reading!