Coral Gables Waterfront Homes Category
One of the only segments of the real estate market in Coral Gables that has not increased in value during 2013 is waterfront homes. You may remember my recent post about the values of waterfront homes in Cocoplum which remained stable between 2012 and 2013. The trend also applies to the rest of the waterfront homes in Coral Gables. Check out the chart above which shows all waterfront homes sold between 2010 and 2013. You will see they made a...Continue Reading!
The property at 6500 Riviera Drive closed this week for a sales price of $6,200,000. At $724.00/sq. ft., it is the highest "sale price/square foot" for a home sold in 2013 that is not in a gated community. I toured 6500 Riviera Drive with a client of mine and can see why it garnered such a high price. It is located on the widest section of the Gables Waterway on a large 22,950 square foot lot, offers 150 feet of water...Continue Reading!
Gables Estates is a private, 200 acre gated community situated on Biscayne Bay in Coral Gables. With homes that have an average sale price of $7,000,000, it is certainly one of Florida's most exclusive addresses. Gables Estates was developed in the 1960's by industrialist Arthur Vining Davis (Davis owned an estimated 1/8 of Dade County at the time). Because of the high price point, we don' t typically see a lot of turnover in this community during the course of...Continue Reading!
I created the chart above which shows the history of sales in the gated community of Cocoplum since 2006. You can see that in 2006 & 2007 values peaked for waterfront and non-waterfront homes. The waterfront homes took the hardest hit over the past few years in Cocoplum falling to an average "sale price/square foot" of $496.00 in 2010. Although they have bounced back since then, this is still a segment of the market that has some recovering to do. I believe that...Continue Reading!
We are seeing this scenario play out again and again across the Coral Gables real estate market. Sellers are experiencing a nice gain on the sale of their home just 1 year after purchase. The perfect example is the home located at 871 San Pedro Avenue in the guard gated community of Coral Bay. This home sold in August of 2012 for a great price of $1,580,000. The owners placed it back on the market in March of 2013 for...Continue Reading!
One of my favorite things to do is to cruise the Gables waterways and see Coral Gables real estate from a different vantage point. Check out these photos which I snapped early Sunday morning. If you are interested in working with a Coral Gables Realtor who knows the numbers and tracks the market, please contact me at 305-342-1623 or send me a message here. The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables....Continue Reading!
I still believe that the best bang for your buck for waterfront homes in Coral Gables is the Sunrise Harbour neighborhood. Case in point is this week's sale which occurred at 6835 Sunrise Place for $2,175,000. This home offered a 14,000 square foot lot with 100 feet on the water and no bridges to the Bay. There have been 6 sales in Sunrise Harbour this year, they have ranged in price from $2,175,000 all the way up to $2,800,000 (also from $413.00...Continue Reading!
The lakefront home located at 5001 Hammock Lake Drive closed this week for $5,500,000. This is the highest sale price we have seen for a lakefront home in Coral Gables since the sale of 4900 Lake Lane back in 2007 which was located on a private island and closed for $8,150,000. Broker of 5001 Hammock Lake Drive was A and D Group Realty. Details of 5001 Hammock Lake Drive: - 8,376 Square Feet Of Living Area - 35,284 Square Foot Lot - 7 Bedrooms, 8 Baths The...Continue Reading!
I have been tracking this foreclosure property in Gables By The Sea for several months. It hit the market back in June of 2012 at a list price of $1,100,000. Since then, it was placed under contract several times and had a list price increase to $1,216,300. The home finally sold this week for a sales price of $1,000,000. The home needed a major renovation and completion but offered 5 bedrooms, 6 baths with 4,795 square feet of living space on...Continue Reading!
There has been just 1 sale in the gated community of Cocoplum so far in 2013. Located at 6935 Prado Boulevard, this property was listed for $4,995,000 and traded for $4,500,000 or $606.00 per square foot. This is well above the average in Cocoplum which typically runs at about $450 per square foot. The property garnered such a high price due to the fact that it was located on a private peninsula with water views on 3 sides. Broker...Continue Reading!