Coral Gables Real Estate Market Update

February 28th, 2014 Written By


Categorized under Coral Gables Real Estate

Santa Maria

Today is the last day of February and I wanted to give you an overview of the Coral Gables real estate market as it stands today. There have been 51 home sales so far in 2014 with a total volume of $55,369,000.  This figure is down from the same time period during 2013 where we saw 74 homes closed with a total volume of $76,863,000.

Homes so far in 2014 have closed at an average “sale price/sq. ft.” of $348.00.  This figure has increased from the average “sale price/sq. ft.” figure from last year which came in at $338.00.

Coral Gables Waterfront Homes

There have been 8 waterfront homes sold in Coral Gables, they closed for an average price of $2,913,000 or $613/sq. ft.  All of these were canal-front properties except for 6975 Sunrise Terrace which offered direct bay views (in gated community of Sunrise Harbour) and closed for $5,000,000.

Coral Gables Gated Communities

Gated communities in Coral Gables have had a slow start to the year.  There have been just 6 homes sold in the gated communities of Coral Gables.  Cocoplum had the most sales with 3 properties sold.

Coral Gables Pending Sales

There are currently 99 pending sales in Coral Gables.  These are listed for an average price of $1,160,000 or $353.00/sq. ft.  The median home that is under contract is listed for $699,000.

The real estate market in Coral Gables is changing rapidly.  If you would like to work with with Coral Gables Realtors who specialize in this market, please give us a call to schedule a buyer or seller consultation.  We can be reached directly at 305-342-1623 or you can fill out our contact form here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated CommunitiesWaterfront HomesLand For SaleForeclosuresShort Sales and more.

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Number Of Homes For Sale In Coral Gables Reaches 2 Year High

February 26th, 2014 Written By


Categorized under Buying Real Estate In Coral Gables, Coral Gables Real Estate, Selling Real Estate In Coral Gables

Coral Gables Homes For Sale

Check out the chart above which shows the number of homes for sale in Coral Gables over the past 3 years. There are currently 299 homes for sale in Coral Gables which is a figure we haven’t reached since early 2012.  More and more sellers want to capitalize on the increasing home values and are placing their properties on the market.

I do have some concerns that rising prices will deter buyers, particularly in the entry-level market.  Coral Gables has the most activity in the $600,000 and below price point, however as prices start to creep upwards many of those buyers will be priced out of the market.

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Learn more about our team! Visit our website! www.TheRileySmithGroup.com

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

 

A Beautiful Sanctuary In Snapper Creek Lakes

February 25th, 2014 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate, Snapper Creek Lakes

Home In Snapper Creek Lakes

Life in Miami can be so fast paced that many home buyers are looking for a sanctuary where they can completely disconnect.  A property has just come on the market in the highly sought-after gated community of Snapper Creek Lakes where you will feel a million miles away from the city.  5295 Fairchild Way sits on a 1.3 acre lot which is full of mature landscaping, meandering brick paths, private grottos, koi ponds and lily ponds.

The interior of the home boasts a Downsview kitchen, hand chipped stone floors, antique wood floors, 2 downstairs family rooms, 1 upstairs family room and 4 bedrooms upstairs each with a private bath.

Details of 5295 Fairchild Way include:

  • 7,243 square feet of living space
  • 58,370 square foot lot
  • 4 bedrooms, 5 full baths, 2 half baths
  • Built in 2005
  • 2 car garage
  • List Price: $5,295,000
  • More photos and information here.
  • Listed by Pallot Realty

Snapper Creek Lakes is home to some of Miami’s finest properties.  This gated community has had an average sale price of $3,347,000 over the past 12 months and an average “sale price/sq. ft.” of $489.00.  View all homes for sale in Snapper Creek Lakes.

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Learn more about our team! Visit our website! www.TheRileySmithGroup.com

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

New Townhouse Hits The Market In Coral Gables

February 20th, 2014 Written By


Categorized under Coral Gables Real Estate, Coral Gables Townhouses

Coral Gables Townhouse

This new townhouse in Coral Gables has just come on the market listed by Jo-Ann Forster of One Sothebys.  I am sure that it will garner a significant amount of interest considering that there are very few townhouses for sale in Coral Gables.  Townhouses are very appealing to buyers because they have the benefit of being “lock-and-go” while maintaining some of the features of a single family home.

This property is located at 483 Menendez Avenue (#10), just steps from the new Epicure Market as well as Merrick Park.  It offers 1,632 square feet of living space with 3 bedrooms, 3 baths.  The property is listed for $599,000.  View more photos and information here.

Townhouse In Coral Gables

If you are interested in townhouses in Coral Gables, you may want to check out these properties that are currently for sale:

There were approximately 10 townhouses sold in 2013.  They closed for an average price of  $717,000 or $306.00 per square foot.  Another benefit to purchasing a townhouse as opposed to a single family home is that you tend to get more for your money. The average “sale price per square foot” for a single family home is over $350.00 in Coral Gables right now.

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Learn more about our team! Visit our website! www.TheRileySmithGroup.com

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

 

The Riley Smith Group Ranks #5 At EWM!

February 18th, 2014 Written By


Categorized under Coral Gables Real Estate

Top Producers 2013

I just wanted to extend a big thank you to all of our past clients who trusted us with their real estate transactions in 2013.  With $50,000,000 in sales last year, I am thrilled to report that we ranked #5 out of more than 750 real estate agents in Miami-Dade and Broward County.   With the help of our team members Dominique Duque, Liz Perdigon, Jessica Adams and Carleen Smith, we sold over 65 homes.

The way things are shaping up, 2014 is going to be another great year!

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Learn more about our team! Visit our website! www.TheRileySmithGroup.com

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

Waterfront Home On Riviera Sells $52,000 Above List Price

February 16th, 2014 Written By


Categorized under Coral Gables Real Estate, Coral Gables Waterfront Homes

Coral Gables Waterfront home

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 one of three homes to close above list price in Coral Gables so far this year.  The others were 12631 Ramiro Street which was an unapproved short sale, and 5230 Alhambra Circle which was a foreclosure property.

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Learn more about our team! Visit our website! www.TheRileySmithGroup.com

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

New Listing Hits The Market In The French Country Village Of Coral Gables

February 13th, 2014 Written By


Categorized under Coral Gables Real Estate, Historic Homes In Coral Gables

The French Village, Coral Gables

The French Village is an extremely sought after location. These free standing homes were designed by Coral Gables founder George Merrick.  They were built to lure northerners to Coral Gables by their unique design.  Homes in the French Village do not turn over very often so they tend to sell quickly and at a premium.

French Village, Coral Gables

Yesterday, the home at 536 Hardee Road in the French Village came on the market a list price of $2,200,000.  Listed by my colleague Carole Smith of EWM, this property is located on a corner lot and offers 4,191 square feet of living space with 6 bedrooms and 5.5 baths.   As you can see from the photo, the outdoor living spaces are spectacular with plenty of room for entertaining.  The pool, terrace and summer kitchen are a highlight of the home, and were designed by landscape architect Raymond Jungles.   For more photos and information on this property, click here.

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Learn more about our team! Visit our website! www.TheRileySmithGroup.com

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

Plans Revived For “Old Spanish Village” In Downtown Coral Gables

February 6th, 2014 Written By


Categorized under Coral Gables Real Estate, Coral Gables Townhouses

 This rendering shows a view of the proposed development from Fred B. Hartnett/Ponce Circle Park. The concept includes 254 owner-occupied luxury condominiums, high-end retail and restaurants, plazas, rooftop gardens and a five-star hotel.

I have been tracking the “Old Spanish Village” project located on Ponce de Leon Boulevard since 2009.  Back then plans were in the works to develop a gated community of luxury townhomes and condos.  It was a joint venture between Ralph Sanchez and Mas Group.  In December of 2010, the project fell victim to the recession and was placed on the market for sale.  In July of 2011 it was sold for $30.55 million to Agave Holdings which also built 396 Alhambra Circle, a LEED certified building.

old spanish village project

The Miami Herald reported yesterday that Agave will submit plans to the City for another luxury townhouse & condo development including a 5 star hotel and high-end retail and restaurants.    They also plan to increase the amount of green space that the previous builders planned for the site.

The completion of this project would be great for the downtown area of Coral Gables.  I will keep you posted with any  new developments!

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

Just Sold By The Riley Smith Group At The Gables Club!

February 3rd, 2014 Written By


Categorized under Coral Gables Condos, Coral Gables Real Estate, Selling Real Estate In Coral Gables, The Gables Club

Exterior Water

Congratulations to our sellers who just closed on their condo at The Gables Club.  This unit was in impeccable condition and offered open living spaces with volume ceilings and walls of glass.  The expansive master suite contained  a luxurious master bath and its own private terrace perfect for taking in the views.   This unit (60 Edgewater, PH3F) had 3,165 square feet of living space with 3 bedrooms, 3 baths and sold for $2,050,000 or $647.00/sq. ft..

The Gables Club, Coral Gables

 The Gables Club offers five star amenities for its’ residents including a lighted clay tennis court, fitness center, lap pool, marina, putting green, private club with restaurant and room service as well as 24 hour security.

There were 11 condos sold at The Gables Club during 2013.  These units ranged in price from $1,015,000 to $4,750,000.  The average “sale price/sq. ft.” for all units sold at The Gables Club during 2013 was $482.00.

If you are interested in learning more about how we sell our Coral Gables listings for top dollar, please contact us for a no pressure seller consultation.  I can be reached anytime on my cell at 305-342-1623 or you can fill out our contact form here.

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

Exquisite Golf Course Front Property In Coral Gables

January 30th, 2014 Written By


Categorized under Coral Gables "Golf Course Front" Homes For Sale, Coral Gables Real Estate, Historic Homes In Coral Gables

Home For Sale On Biltmore Golf Course

If you like to play golf like I do, you might be looking for a home situated directly on one of Coral Gables’ finest courses.  A spectacular home located on The Biltmore Golf Course has recently hit the market.  This is an original Walter De Garmo historical estate that offers 9,517 square feet of living area on a 23,240 square foot lot with 8 bedrooms and 6.5 baths.  Walter De Garmo designed many of Miami’s grand homes and was George Merrick’s (the founder of Coral Gables) chief architect.  The home offers Old World style architecture with inlaid marble floors, Cathedral ceilings and arched windows and doors.  It also has a 1 bedroom, 1 bath guest apartment.  The home is being offered for $12,500,000 by Coldwell Banker.  For more information and photos, click here.

Home For Sale On Biltmore Golf Course

There are a handful of homes with golf course views on the market right now in Coral Gables.  Prices range from $1,690,000 up to $12,500,000.  If you are interested in taking a look at what is available, click here to view photos and information.  If you would like to schedule a showing for any of these properties, please feel free to contact me here.

We know the Coral Gables real estate market and track the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

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