Coral Gables Waterfront Homes Category
This unique property located on a peninsula in the gated community of Gables By The Sea (780 Lugo Avenue) just closed for $2,650,000. It was being sold as a renovation project and offered 4,045 square feet of living area on a 11,500 square foot lot. It had 100' of direct bay views with a private dock and boat lift. Although the home needed significant updating, it still sold for $655/sq. ft. of living area which is one of the highest price...Continue Reading!
I was doing an analysis of Coral Gables waterfront homes for a client of mine and created these charts to show him where the market has been over the past few years. As you can see, prices are up significantly this year and have made a nice recovery from the drop we experienced in 2013. Right now Coral Gables waterfront homes are selling over $600.00/square foot. These are some of the highest average figures we have seen in the history of...Continue Reading!
You may remember my recent post about Miami Heat star Ray Allen purchasing a home on Tahiti Beach for a reported $11,000,000. This was the first sale in the exclusive gated community of Tahiti Beach this year. But now another sale has just come across the wire located at 4 Tahiti Beach Island Road. This home offered 21,235 square feet of living space on a 62,051 square foot lot with 10 bedrooms, 10.5 baths with a private beach, expansive...Continue Reading!
Miami Heat basketball star Ray Allen just purchased the home he had been renting in Cocoplum for a reported $11,000,000. This home was located on the exclusive Tahiti Beach Island and offered 11,000 square feet of living area on a spectacular 37,000 square foot waterfront lot with a private beach. Some of the special features of the home include an elevator, gym, sauna and spa. This is the 13th home sold in the gated community of Cocoplum in 2014, and the...Continue Reading!
There have been 33 waterfront homes sold in Coral Gables this year. This includes canal-front, bay-front and lake-front properties. These homes have closed for an average of $636.00 per square foot which is an increase of almost $100.00/sq. ft. from 2013. This segment of the market has experienced one of the highest rises in value in 2014. Five of the waterfront properties that sold this year were partially completed homes or homes that required major renovation. There have been two direct...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!
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 home located at 4706 Granada Boulevard (listed by Slesnick and Jochem) closed last week for $1,800,000 - the home was listed for $1,748,000. There were several factors that contributed to this scenario. First, the home sat on large 18,524 square foot waterfront lot with boat dock. Second, it was in very good condition with a nicely updated kitchen. And the last factor was location. There are very few waterfront homes priced under $2,000,000 in the North Gables area. This is...Continue Reading!
Today I wanted to review Cocoplum's real estate market activity during in 2013. You may remember my recent post about the waterfront homes in Cocoplum. I explained that the waterfront properties had not bounced back from the downturn in the market as much as the non-waterfront homes in Cocoplum. However, when you take a look at the Cocoplum market as a whole, you will see that the community has made a solid recovery in 2013. The average "sale price per...Continue Reading!
The 2013 Coral Gables real estate figures are in! I waited a few days to let the last few closed sales trickle in but I am thrilled to report that Coral Gables had a record breaking year with 629 homes sold and an incredible $690,120,602 worth of volume. Both of these figures exceed any other year on record in Coral Gables. In fact, the number of homes sold in 2013 was twice the amount sold in 2007. The breakdown of closed...Continue Reading!