Coral Gables Waterfront Homes Category
The area of Coral Gables that is located south of Hardee Road and north of 72nd Street experienced quite a bit of turnover in 2011. There were 30 homes sold (see red pins on map below) with the average sale coming in at $1,000,000. It is a prime location due to its proximity to South Miami as well as downtown Coral Gables and Coconut Grove. I also know buyers who really like this neighborhood because it is just steps away from the highly desirable Sunset Elementary School. There are approximately...Continue Reading!
Many people aren't familiar with the waterfront area of Coral Gables known as Sunrise Harbour. It is located east of US1 and north of Cocoplum. As you can see, the properties sit on little "fingers" of land that extend into the Gables Waterway allowing for quick access to Biscayne Bay. This year there have been 7 $2,000,000+ properties sold in Sunrise Harbour. The homes traded for a median of $2,200,000 or $503.00 per square foot. In my opinion, the area is slightly less pretentious than...Continue Reading!
The home located at 325 Cocoplum Road recently closed for a sales price of $5,500,000 which is $1,400,000 off the list price. This home which was located in the gated community of Cocoplum had been on the market since August of 2009 with an original asking price of $12,000,000. The sellers made several price reductions over the years but were always chasing the market. When they made their final price reduction of $7,450,000 to $6,900,000 they quickly went under contract. The elegant Old Spanish home offered 125 feet...Continue Reading!
This home located at 9001 Banyan Drive on Hammock Lake has been on and off the market since 2005. Recently it was listed as a short sale but now it has come on the market as a foreclosure. The home was built in 2009 and has never been lived in. It offers 9,556 square feet of living space with 7 bedrooms, 7 baths and views of the lake. The home is listed for $3,500,000. I know the numbers, I analyze the market, my clients...Continue Reading!
Waterfront homes make up a significant part of the Coral Gables real estate market. There have been 50 waterfront sales so far this year and there are currently 90 on the market. They have sold on average for $449.00 per square foot but you really have to take each home's unique waterfront location into consideration when placing a value on an individual property. For instance, a waterfront home in Gables Estates and a waterfront home on Riviera Drive are two...Continue Reading!
This beautiful home just hit the market in Gables Estates, Coral Gables' most exclusive gated community. Priced at $12,950,000 the home offers 450' of water frontage with many special features including a library/game room, two staff quarters, chefs kitchen, Crestron home control system, generator, heated pool with two sunbathing ledges, jacuzzi and infinity waterfall as well as a 70' dock with boat lift. The home is listed by Toni Schrager of Avatar. There are currently 15 homes for sale in Gables Estates...Continue Reading!
Prior to this summer there had not been a single recorded waterfront sale in Cocoplum under $2,500,000. However in June of this year the canal-front home located at 194 Caoba Court closed for $2,225,000 and just this past week the canal-front home located at 184 Paloma Drive closed for $2,300,000. You do have to take into consideration the condition, year and size of these properties but even if you account for those things a sale under $2,500,000 for a waterfront home in Cocoplum is pretty remarkable. This is just more evidence...Continue Reading!
I am in the middle of preparing my latest Fall/2011 Coral Gables Real Estate Newsletter and I just came across some interesting numbers. We've known for quite some time that the average home in the Gables sells for 10% off the list price. But if you take a look at the waterfront sales this year, those are occurring at 14% off list price. This means that the average waterfront home is listed for $2,527,176 then sells for $2,175,527. That is a very...Continue Reading!
I hate to keep harping on the same topic but I can't get over all of the activity we are seeing in the Sunrise area. On top of all of the pending sales I have reported on recently, a new listing came on the market last night priced at $4,750,000. The home is located at 6945 Sunrise Terrace. View information here. There is no better time to be buying on the water right now, we may not see prices like this again. If you...Continue Reading!
Yesterday I mentioned all of the activity that was going on in Sunrise (read here). Today, another listing came across the MLS as pending. Something is definitely in the water over there! The canal front house that went under contract is located at 6922 Sunrise Court and listed for $2,2450,000. If you are interested in buying, selling or building a home in Coral Gables and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me directly at 305.342.1623 or...Continue Reading!