Update: Another Pending Sale In Sunrise, Coral Gables
August 27th, 2011 Categories:Coral Gables Waterfront Homes
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 send me a note here.
Something’s In The Water In Sunrise, Coral Gables!
August 26th, 2011 Categories:Coral Gables Real Estate
The above area in the Sunrise subdivision of Coral Gables is a very small neighborhood consisting mostly of canalfront and waterfront properties. Over the past month there have been 5 homes to go under contract here which is a lot of activity in just a few block radius. Take a look at the listing prices of these homes, they are all over $1,000,000. This is just another indication that the high end market is strong right now in Coral Gables. Below is a list of the recent pending sales in Sunrise, Coral Gables:
- 6949 Sunrise Drive | 5 Bedrooms, 7 Baths | List Price: $3,995,000
- 6950 Sunrise Drive | 5 Bedrooms, 5.5 Baths | List Price: $3,900,000
- 6970 Sunrise Drive | 5 Bedrooms, 4 Baths | List Price: $2,700,000
- 6819 Sunrise Place | 6 Bedrooms, 5 Baths | List Price: $2,299,000
- 165 East Sunrise Avenue | 6 Bedrooms, 4 Baths | List Price: $1,250,000
Also, a new listing came on the market today in Sunrise, located at 6920 Sunrise Drive listed for $2,995,000. View more photos of that listing here.
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.
$10,500,000 Home Goes Under Contract In Old Cutler Bay
August 25th, 2011 Categories:Coral Gables Real Estate, Coral Gables Waterfront Homes
This custom built waterfront home in Old Cutler Bay went under contract recently. The list price on the home is $10,500,000 and it offered 6 bedrooms, 7 baths with 10,308 square feet of living space on a 28,725 square foot lot with no bridges to the Bay. If the sellers get close to asking price on this home, it will be the highest priced home to sell in Coral Gables this year. To view all homes for sale in Old Cutler Bay click here.
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.
New Foreclosure On Milan Avenue, Coral Gables
August 24th, 2011 Categories:Coral Gables Real Estate
This foreclosure just came on the market in Coral Gables. It is a 3 bedroom, 2 bath home with 2,031 square feet of living space on a 5,400 square foot lot. It offers impact windows and doors, stone floors as well as hard wood floors and an updated kitchen. The list price is $599,500 by Barclays.
There are currently 5 single family foreclosures on the market in Coral Gables, ranging in price from $229,900 all the way up to $3,999,900. To view photos of all foreclosures for sale in Coral Gables (including the above featured property) click here.
There have been 24 foreclosures sold in the City of Coral Gables this year, only 1 sale ocurred above $1,000,000.
Non-Waterfront Luxury Homes In Coral Gables
August 23rd, 2011 Categories:Coral Gables Real Estate
My question today is…..are buyers in the luxury home market willing to pay high prices for non-waterfront homes? And, is there a plateau where buyers will not go any higher for a home that is non-waterfront. The answer is yes and yes.
The highest non-waterfront sale during the past 24 months was for an 11,282 square foot house on a 34,000 square foot house in Cocoplum. The house was listed for $6,250,000 but sold for $4,500,000. To view photos of this house click here.
Below are the 3 highest non-waterfront sales in 2011 in Coral Gables, click here to view photos the top 10.
- 1101 North Greenway Drive | List Price: $3,950,000 | Sale Price: $3,500,000 | 6,429 square feet of living space | 25,275 square foot lot | 4 bedrooms, 4 baths.
- 4515 Santa Maria Street | List Price: $3,500,000 | Sale Price: $3,500,000 | 5,763 square feet of living space | 12,500 square foot lot | 4 bedrooms, 2 baths.
- 25 Tahiti Beach | Largest Dry Lot On Tahiti Beach | List Price: $3,900,000 | Sale Price: $3,200,000 | 7,813 square feet of living space | 52,941 square foot lot | 5 bedrooms,6 baths.
Below are the 3 highest non-waterfront listings currently on the market in Coral Gables, click here to view photos of the top 10:
- 5228 Oak Lane | List Price: 7,999,000 | Days On The Market: 388 | 11,233 square feet of living space | 50,965 square foot lot | 7 bedrooms, 8 baths.
- 26 Tahiti Beach Island | List Price: $6,850,000 | Days On The Market: 120 | 9,440 square feet of living space | 41,320 square foot lot | 5 bedrooms, 5 baths.
- 9100 Old Cutler Road | List Price: $6,500,000 | Days On The Market: 180 | 10,181 square feet of living space | 43,560 square foot lot | 7 bedrooms, 8 baths.
Even though waterfront is highly desirable, I have spoken with many buyers who are looking specifically for non-waterfront properties in the Gables. It is no secret that when you buy a $3,000,000 non-waterfront home compared to a $3,000,000 waterfront home you get a bigger and better house for your money. It all comes down to a buyer’s needs and wants.
Selling Your Home In Coral Gables? Don’t Chase The Market!
August 18th, 2011 Categories:Coral Gables Real Estate
- 10/01/2007: Came on the market at $7,275,000
- 3/24/2008: Reduced to $6,985,000
- 7/15/2008: Reduced to $6,250,000
- 10/02/2008: Reduced to $5,750,000
- 6/15/2009: Reduced to $5,299,000
- 10/15/2009: Reduced to $4,950,000
- 01/06/2010: Reduced to $4,200,000
- Currently listed at $3,900,000
Third Sale Of The Year In Gables Estates
August 17th, 2011 Categories:Coral Gables Gated Communities
The above property located at 2 Leucadendra Drive in Gables Estates sold recently for a sales price of $5,150,000 or $972.00 per square foot. This home was on the market for land value or as a renovation project. As you can see the home offered quite a bit of water frontage and was located on a quiet cul-de-sac. This makes the third sale in Gables Estates all year.
The other two sales were 225 Leucadendra Drive which sold for $4,750,000 or $666.00 per square foot, and the second occurred on 8950 Arvida Drive which was a two acre, non-waterfront lot which sold for $2,556,250 or $30.00 per square foot of land.
There is a $60,000 membership fee for entrance into the Gables Estates Homeowners Assocation.
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.
Coral Gables Waterfront Homes Under $2,000,000
August 16th, 2011 Categories:Coral Gables Real Estate
While the ultra-luxury waterfront homes in Coral Gables will cost you upwards of $5,000,000, it is possible to be on the water for less. There are several canal front homes currently for sale in Coral Gables for under $2,000,000. In fact, there is a canal front home on the market right now for less than $1,000,000 but there is no access to the ocean. Below are some of the homes priced under $2,000,000 that have ocean access:
4920 Biltmore Drive | 4 Bedrooms/4 Baths | 4,158 Square Feet Of Living Space | 13,653 Square Foot Lot | List Price: $1,495,000
5035 Orduna Drive | 4 Bedrooms/3.5 Baths | 3,662 Square Feet Of Living Space | 14,485 Square Foot Lot | List Price: $1,600,000
6300 Caballero Boulevard | 5 Bedrooms/5 Baths | 3,494 Square Feet Of Living Space | 15,422 Square Foot Lot | List Price: $1,975,000
Below is a chart showing the large disparity between the average list prices of waterfront homes for sale in Coral Gables and the average sale prices of waterfront homes for sale in Coral Gables.
If you are interested in buying or selling a home in Coral Gables and are looking for an experienced realtor, please don’t hesitate to contact me on my direct line at 305-342-1623 or send me a message here.
Where Are The Flood Zones In Coral Gables?
August 12th, 2011 Categories:Buying Real Estate In Coral Gables
I recently received access to some great thermal imaging maps. The above map shows the flood zones in Coral Gables. The flood zones are determined by the Federal Emergency Management Agency (FEMA). The areas in red indicate a high risk area, meaning that it has a 1 percent or greater chance of flooding and a 26 percent chance of flooding over the life of a 30 year mortgage. A moderate (yellow) risk area is between risk limits of a 100 year and 500 year flood.
Coral Gables is shaded in purple and you can see that a large portion of the Gables lies in a flood zone. The area on the east side of Old Cutler is all in a high risk area. These particular communities (Gables Estates, Cocoplum etc) contain some of Coral Gables priciest homes.
If you are interested in buying or selling a home in Coral Gables and are looking for an experienced realtor, please don’t hesitate to contact me on my direct line at 305-342-1623 or send me a message here.
Buyers Are Paying OVER Asking Price In Coral Gables!
August 10th, 2011 Categories:Coral Gables Real Estate
Believe it or not, there have been 32 sales (single family) in Coral Gables this year where the buyers paid at or above the seller’s asking price. Half of these sales were either foreclosures or short sales but the other half were regular non-distressed sales. It is encouraging news that buyers aren’t scared to pay over list price for a home in this market and that they are ready to act when an opportunity arises.
The average list price to sale price ratio remains 91% in Coral Gables which means that a typical home sells 9% off of its final asking price.
Below are some of the Coral Gables sales that occurred at or above list price:
3610 Alhambra Court | 4 Bedrooms, 3 Baths | List Price: $840,000 | Sale Price: $840,000
1808 Granada Boulevard | 4 Bedrooms, 3 Baths | List Price: $718,000 | Sale Price: $718,000
3401 Granada Boulevard | 4 Bedrooms, 3 Baths | List Price: $712,500 | Sale Price: $778,000
If you are interested in buying or selling an Old Spanish home in Coral Gables and are looking for an experienced realtor, please don’t hesitate to contact me on my direct line at 305-342-1623 or send me a message here.
