Coral Gables Waterfront Homes Category
Today I ran the numbers for waterfront properties in Coral Gables and found some interesting stats. Since the beginning of 2015, sales of waterfront homes in Coral Gables has significantly slowed down. On the flip side, values have increased at a steady pace for this segment of the market. The fact that sales have slowed down as prices have risen is not surprising. Buyers tend to get cold feet when they see prices increasing in such a short period of...Continue Reading!
During the first quarter of 2016 there were 12 waterfront homes sold in Coral Gables. These sold for an average of $4,600,000. The numbers this year are down slightly from the first quarter of 2015 where there were 20 waterfront closed sales in Coral Gables which averaged $5,100,000. The good news is that values seem to be holding for waterfront property. In 2016 the average price per square foot has come in at $738.00 where during the same time period...Continue Reading!
If you love the water and are looking for a home with plenty of dock space, then you will love our listing in the gated community of Kings Bay Estates. "Paradiso" is an elegant Bermuda style Villa with grand interior spaces which are flooded with natural light. The home overlooks the Deering Bay Marina and a stunning deep water lagoon with direct bay and ocean access. A private 100' sea wall accommodates four 60' boats. A few of the features include...Continue Reading!
Back in May of 2015, auto-tycoon Alan Potamkin's spectacular Gables Estates residence at 1 Casuarina Concourse hit the market. Listed by The Jills of Coldwell Banker, the home featured 20,862 square feet of living space, 9 bedrooms, 10.5 baths, pool, gym, tennis court, 1,500 wine cellar, a professional chef's kitchen and 937' of water frontage. After nearly 1 year on the market, Potamkin has now divided the 3.6 acre lot that his current home is situated on and reduced the price...Continue Reading!
Waterfront homes in Coral Gables sell on average for $3,900,000 or $639.00/square foot (this includes homes in both gated and non-gated communities). These high prices are not within the budget for many buyers who are interested in waterfront properties. A lot of them end up buying a home on a dry lot and looking for dock space elsewhere in Miami. However, there is a place in Coral Gables where waterfront homes sell $1,000,000's below the average price. Where can you...Continue Reading!
For another year in a row Coral Gables has seen an overall increase in value of single family homes. However, when you break the numbers down into waterfront and non-waterfront, you will see that the non-waterfront segment has increased in price by 8% while waterfront homes have actually decreased in value by 2%. I think these figure are consistent with the state of the South Florida market as a whole. Thanks to fewer foreign buyers, we are seeing a slowdown...Continue Reading!
Hammock Oaks is a quiet, family friendly gated-community situated off of Old Cutler Road in Coral Gables. When you enter Hammock Oaks you will notice right away the lush vegetation that surrounds the homes and two large lakes which are the focal point of the community. While many of the homes are waterfront, they do not have access to the open water. However, there are some homes that come with a community dock space which does provide ocean access. There have...Continue Reading!
The home at 2 Casuarina Concourse in the exclusive gated community of Gables Estates has finally closed for $8,642,700. The home was designed by mid-century architect Alfred Browning Parker known for his unique, modern style. The property offered 85,431 square feet of land with 580 square feet of water frontage and was selling for land value. The home was not oriented to take advantage of the water views because it was designed to showcase high-end artwork which would be ruined...Continue Reading!
As a whole, the Coral Gables real estate market fared extremely well in 2014. In my opinion, there are three things that defined the year; these would be: #1: Low Inventory, #2: Bidding Wars, #3: High Prices. I have created the below charts which show how the Coral Gables real estate market has changed between 2011 and 2014. The numbers depicted show the market as a whole and are also broken down into waterfront vs. non-waterfront sales. The first group of charts...Continue Reading!
The home located at 6801 Pullen Avenue in Coral Gables just sold for $6,025,000. This property originally hit the market back in 2010 for a list price of $6,500,000. The home offered 5,157 square feet of living area with 4 bedrooms, 4 baths on a 31,304 square foot lot. It was marketed as a renovation project and/or land value. Over the years they raised the price to $7,500,000 then lowered it back down to $7,100,000, $6,999,000 and finally $6,495,000. This was...Continue Reading!