Archive for the 'Coral Gables Real Estate' Category
I Always Enjoy Hearing From My Blog Readers!
November 8th, 2011 Categories:Coral Gables Real Estate
I received a phone call last night from a very nice gentlemen who is a regular reader of my blog. In fact, he just purchased the home that I wrote about yesterday at 5101 Hammock Lake Drive. Since he knows that I am a stickler for details, he wanted to let me know that the square footage that is stated on the tax records and the MLS for his house does not accurately reflect the true living area of his new home. Therefore, when I reported that his home was the lowest “selling price per square foot” in the $2,000,000+ market it was inaccurate. Upon further investigation, it appears that the house has a square footage of around 6,000 (as opposed to 9,366 which is stated on the tax records and MLS) so that it now ranks in the bottom 10 ”selling prices per square foot” for homes sold over $2,000,000 in the Gables.
Thanks for the call, I always enjoy hearing from my readers!
5101 Hammock Lake Drive Closes For $366.00* Per Square Foot
November 7th, 2011 Categories:Coral Gables Real Estate
*With Corrected Square Footage
The house I wrote about back in September of this year located at 5101 Hammock Lake Drive closed last week for a sales price of $2,200,000. That post featured the lowest “list price per square foot” homes in different price ranges of the Coral Gables market. The “sale price per square foot” of this house came in at $366.00 which is below average for homes priced over $2,000,000.
The home offered approximately 6,000 square feet of living space on a 39,204 square foot lot. The home featured 4 bedrooms, 4 baths, chestnut wood floors, open kitchen, high ceilings and spectacular lake views.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Classic Coral Gables Home Hits The Market
November 4th, 2011 Categories:Coral Gables Real Estate
This classic Coral Gables Old Spanish home has just hit the market on Pizarro Street. The home has a distinctive cobalt blue roof with fireplace in the formal living room, large master bedrooms, oak floors, new master bath, updated kitchen, Salamanic columns, arches and courtyards. The home offers 3 bedrooms, 3 baths with 1,838 square feet of living space and is listed at $491,000 by Laura Mullaney of Coldwell Banker. View more photos and information here.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Highest Non-Waterfront Sale In 2011 In Coral Gables
November 3rd, 2011 Categories:Coral Gables Gated Communities, Coral Gables Real Estate
The home located at 5288 Oak Lane in the gated community of Snapper Creek Lakes closed this month for a sales price of $6,600,000. This makes the highest non-waterfront sale in 2011 and also the second highest non-waterfront home to sell in the history of the MLS (highest on record is located at 760 San Bruno Avenue for $7,100,000).
The home was designed by Portuondo & Perotti and offered a wine cellar, gym, library, media room, outdoor fireplace as well as courtyards and gardens designed by Sanchez and Maddux of Palm Beach. There were 7 bedrooms, 8 baths and 3 half baths with 11,223 square feet of living space on a 50,965 square foot lot.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Where Do Our Readers Come From?
November 2nd, 2011 Categories:Coral Gables Real Estate
Above is a snapshot of our Google Analytics page where we can view how many visitors come to our site, where they come from and what search criteria they used to get here.
The above map represents the cities where our readers have come from in 2011. As you can see we have a large amount of international visitors and according to Google Analytics we are seeing the highest number of visits from the U.S., Argentina, United Kingdom, Canada and Colombia. So far this year, we have had over 25,000 visits and 32,000 page views from over 1,852 cities on the www.CoralGablesRealEstateVault.com.
The Riley Smith Group offers an unsurpassed level of local and global exposure for its Coral Gables listings. Call us today for a no pressure home valuation. Contact The Riley Smith Group here.
Absorption Rates In Coral Gables
October 31st, 2011 Categories:Coral Gables Real Estate
An absorption rate is defined by the amount of time it would take to sell all of the inventory currently on the market, and it is a very good indicator of the stability of our real estate market. It is calculated by dividing the number of homes for sale by the number of homes sold. A very high absorption rate is indicative of a slow/buyer’s market whereas a very low absorption rate is indicative of a busy/seller’s market. A balanced market according to experts is anywhere from 6 to 9 months.
As you can see, for several months Coral Gables experienced some healthy absorption rates of 6.1 to 9.5 however last month we bumped up again to 10.1 months. With the busiest season for real estate in South Florida upon us, we should certainly expect to see absorption rates falling over the next few months. To give you some perspective, Coral Gables had absorption rates as low as 3 months back in 2005 and as high as 25 months in 2007.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here.
Foreclosures In Coral Gables
October 28th, 2011 Categories:Coral Gables Real Estate
It appears that the foreclosure market in 2011 will remain relatively stable as we close out the year. There have been 33 foreclosures sold so far and there are currently 6 pending. If all of them close this year it would give us approximately the same number of foreclosures we had in 2010.
Take a look at the charts I created below, you will notice some interesting numbers. The sale price of foreclosures in Coral Gables has drastically increased over the past few years up to $644,320 however the price per square foot has remained stable at around $200.00 psf This means that buyers who purchased foreclosures this year in Coral Gables got more bang for their buck than in previous years.
Currently there are only 3 foreclosures that are actively on the market. They range in price from $259,900 and go all the way up to $3,675,000 with an average price/sq. ft. of $362.00.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here.
New Listing In The Platinum Triangle, Coral Gables
October 27th, 2011 Categories:Coral Gables Real Estate, The Platinum Triangle
A new listing came on the market this week in the Platinum Triangle area of Coral Gables located at 710 Tibidabo Avenue. For those of you who aren’t familiar with the Platinum Triangle you can read the post I wrote awhile back titled The Platinum Quadrangle. This home offers 2,304 square feet of living space on a 9,400 square foot lot with 4 bedrooms and 3 baths. It is completely turn-key ready with an updated kitchen and baths. The home is listed for $869,000 by Teresita DeBlank. For more photos of 710 Tibidabo click here.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here.
Southeast Gables – Entry Level Homes Are Selling!
October 26th, 2011 Categories:Coral Gables Real Estate
I consider an entry level home in Coral Gables to be anything under $500,000. The Southeast Gables has always been a great location for entry level buyers. In 2011 there were 9 homes in the area which sold for under $500,000, and 13 which sold for over $500,000. Right now there is only 1 home priced under $500,000 in this pocket of Coral Gables. If you can buy an entry level home in a neighborhood where sales go all the way up to $1,800,000 you can bet that your home’s value will only increase in the coming years.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Cocoplum Real Estate Market Update
October 24th, 2011 Categories:Coral Gables Gated Communities, Coral Gables Real Estate
The gated community of Cocoplum has had an extremely busy real estate market this year. There have been a total of 22 sales since January 1st, 2011 and there are currently 4 under contract. As predicted, this is going to be a record setting year for Cocoplum. The average home in Cocoplum sells for $2,500,000 at a price per square foot of $416.00. Click here to view homes for sale in Cocoplum, Coral Gables.
Click on the chart below to see closed sales in Cocoplum this year.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
