Coral Gables Real Estate Market Update

June 8th, 2015 Written By


Categorized under Coral Gables Real Estate

The Biltmore Hotel

As we approach the middle of the year, I wanted to provide you with a Coral Gables real estate market analysis.  All in all, I see a healthy market here; the number of sales are down but we have seen a bump in prices since 2014.  Coral Gables has had 220 single family homes sold so far in 2015 at an average “sale price/square foot” of $398.00.  During 2014, there were 551 single family home sales which sold at an average “sale price/square foot” of $374.00.

Pending sales give you a good indication of where the market is heading in the coming months.  There are 84 homes under contract listed at an average “list price/square foot” of $403.00.  Right now the “Sale Price/List Price” ratio is running at 93% in Coral Gables, so we can figure that these homes will sell at approximately $374.00/square foot which is slightly below the average for the year.

To date, 56% of the sales in Coral Gables have closed under $1,000,000. There is not much change in that figure from the previous year which came in at 60%.  The $1,000,000 and below price point is certainly the most active segment of the Coral Gables market and where we tend to see homes sell in the quickest amount of time.

There are currently 324 single family homes for sale in Coral Gables.  The inventory is split between 40% priced under $1,000,000 and 60% priced above $1,000,000.

As always, stay tuned to The Coral Gables Real Estate Vault for updates on significant sales, market trends and new listings!

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Alan Potamkin’s Home Hits The Market In Gables Estates | Listed For $67,000,000

May 15th, 2015 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

1 Casuarina Concourse, Gables Estates

Alan Potamkin, the owner of Potamkin Companies (who has an estimated net worth of over $150 million), has listed his Gables Estates home for $67,000,000. Located at 1 Casuarina Concourse, the home offers 9 bedrooms, 10 baths with 20,862 square feet of living area on 3.6 acres of waterfront land (937 feet of water frontage).  Some of the special features include a gym, game room, nanny’s quarters, tennis court, pool, guest house, private beach and boat dock with space for a 160 foot boat. The property is listed by The Jills of Coldwell Banker.

This is the second highest priced listing currently on the market in Miami-Dade County.

Insider Notes: Potamkin purchased the lot for $2,000,000 back in 1987 and built his current home in 2000.  His ex-wife, Claudia Potamkin recently sold her condo at The Grovenor House in Coconut Grove for $8,100,000.

1 Casuarina Concourse, Gables Estates

1 Casuarina Concourse, Gables Estates

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Off-Market Property For Sale In The Golden Triangle | The Riley Smith Group

May 13th, 2015 Written By


Categorized under Coral Gables Real Estate, The Golden Triangle

Golden Triangle

I wanted to let my blog readers know about our newest off-market property which is available for sale in the coveted area of  “The Golden Triangle” in Coral Gables. This is a great 3 bedroom, 2 bath home with 2,000 square feet of living area on a 10,000 square foot lot.  Some of the special features include a remodeled kitchen, large walk-in closet in the master bedroom, dual sinks in the master bath, formal living and dining room and pool.  If you are looking for a home with these specifications but have exhausted everything that is currently on the market, then you should definitely take a look at this property. Once it hits the market, it will sell fast!

For more information please call Liz Perdigon of The Riley Smith Group at 786-543-5777.

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

1020 Placetas Avenue Sells For Full List Price

May 6th, 2015 Written By


Categorized under Coral Gables Real Estate

Placetas 1

When 1020 Placetas Avenue hit the market back in March, I knew that it would sell fast and close to asking price. The home offered 2,571 square feet of living space on a 10,238 square foot lot with 3 bedrooms, 3 baths. It was being offered for $1,429,000. The house was turn-key ready, located on a great street, and priced perfectly. The combination of those 3 things at any price point will create a lot of interest.

After just 5 days on the market, the home was under contract.  It closed this week for full asking price of $1,429,000. Listing agent was Cecilia Samaja of One Sotheby’s.

Placetas 2

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Highest Sale Price In “Old Cutler Bay” In Over 4 Years

May 5th, 2015 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

Gallardo

The gated community of Old Cutler Bay has had a great start to 2015 with some very pricey sales.  There have been 3 homes closed since January 1st totaling nearly $15,000,000 in volume.  Another impressive figure is the sale of 9320 Gallardo Street which traded for $8,350,000 – the highest sale price in Old Cutler Bay in over 4 years.  Listing agent was Toni Schrager of Avatar.

Old Cutler Bay is a very prestigious gated community with spectacular waterfront homes situated on large lots. It is one of the smaller gated communities in Coral Gables, and therefore we typically see a low amount of turnover.  Last year there were 8 homes sold, with an average sale price of $3,615,000.

View the list of homes sold in Old Cutler Bay so far in 2015:

  • 9320 Gallardo Street | 8 beds/8.5 baths | 9,365 Sq. Ft. LA | Built in 2007 | Sale Price: $8,350,000
  • 60 Solano Prado | 4 beds/4.5 baths | 5,032 Sq. Ft. LA | Built in 1973 | Sale Price: $3,790,000
  • 605 Solano Prado | 3 beds/3.5 baths | 3,859 Sq. Ft. LA | Built in 1982 | Sale Price: $3,250,000

Check out homes currently for sale in Old Cutler Bay below:

  1. 4 beds, 3 full baths
    Home size: 3,492 sq ft
    Year built: 1968
    Parking spots: 2
    Days on market: 13
  2. 7 beds, 7 full, 1 half baths
    Home size: 7,999 sq ft
    Lot size: 22,400 sqft
    Year built: 2012
    Parking spots: 4
    Days on market: 82
  3. 6 beds, 6 full, 1 half baths
    Home size: 6,658 sq ft
    Lot size: 20,300 sqft
    Year built: 1968
    Parking spots: 2
    Days on market: 84

See all Old Cutler Bay, Coral Gables Gated Community.
(all data current as of 2/22/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Just Listed By The Riley Smith Group! 6002 Cellini Street

April 29th, 2015 Written By


Categorized under Coral Gables Real Estate

Cellini Collage

Another Coral Gables home listed by The Riley Smith Group! 6002 Cellini Street is a fantastic property which has been completely rebuilt and expanded with top of the line features and finishes. It offers expansive and light filled living spaces with 24 x 24 travertine marble flooring and a luxurious master suite with marble bath. The spectacular chef’s kitchen has custom cabinetry and an 8 burner Wolf gas range with 2 ovens.  French doors lead out to a covered terrace, pool and tropical gardens which surround the home.

This home is listed by Bea Citron of The Riley Smith Group. If you would like more information about this home, or would like to schedule a showing, please contact Bea at 305-606-7993 or you can send us a message here.

Details of 6002 Cellini Street, Coral Gables:

  • 6 Bedrooms, 4 Full Bathrooms, 1 Half Bathroom
  • 3,936 Square Feet Of Living Area (+ recent expansion)
  • 15,000 Square Foot Lot
  • 2 Car Garage
  • Offered at: $2,250,000

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

SOLD! A Million Dollar Residence Every 15 Hours

April 21st, 2015 Written By


Categorized under Coral Gables Real Estate

Hot off the press! I am proud to announce that my company EWM Realty International once again ranks #1 for $1 million+ homes sold in Miami-Dade County.  We are the market leaders for luxury homes, selling a million dollar residence every 15 hours in South Florida.  That  is 23% more than any other real estate firm! When you work with The Riley Smith Group and EWM, you can rest assured that you are getting the highest level of experience, service and professionalism.

EWM Market Leader

The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Non-Waterfront Home Sells For $3,600,000 In Coral Gables

April 15th, 2015 Written By


Categorized under Coral Gables Real Estate

Vistalmar

A non-waterfront home has just closed in the guard-gated community of Cocoplum for $3,600,000.  Located at 295 Vistalmar Street, this is the highest non-waterfront sale that Coral Gables has seen in the past 6 months. This sale is significant because it is a very high price for a home on a dry lot in Coral Gables.

This property had been completely renovated in 2009, and offered 6,350 square feet of living space on a 30,012 square foot lot.  It had floor to ceiling impact windows, marble and wood floors, saline pool, jacuzzi, steam shower, cabana and lush landscaping surrounding the home.

The top 5 highest non-waterfront sales in Coral Gables for the past 6 months include:

  1. 295 Vistalmar Street | Cocoplum | 6 Beds/6 Baths | Sale Price: $3,600,000 | $566.00/square foot
  2. 5655 Kerwood Oaks | 6 Beds/7.5 Baths | Sale Price: $3,350,000 | $403.00/square foot
  3. 4730 University Drive | 6 Beds/6 Baths | Sale Price: $2,810,000 | $482.00/square foot
  4. 125 Gavilan Avenue | Cocoplum  | 5 Beds/4.5 Baths | Sale Price: $2,800,000 | $565.00/square foot
  5. 4209 Santa Maria | Golf course views | 4 Beds/4.5 Baths | Sale Price: $2,643,250 | $498.00/square foot

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Gables Club Luxury Condos | Slow Start To 2015

April 9th, 2015 Written By


Categorized under Coral Gables Condos, Coral Gables Real Estate

Gables Club

There have only been 2 closed sales at The Gables Club during the first quarter of 2015.  Although sales may be slow, the average “sale price/square foot” on these units were high compared to the sales during 2014.  As you can see from the chart below, the average “sale price/square foot” for 2015 has come in at $631.00.

Buyers are drawn to The Gables Club because it is in a great waterfront location and has incredible 5 star amenities such as a 24 hour concierge, private club, spa, restaurant, tennis courts, lap pool, putting greens and more!

Check out my stats and trends for The Gables Club below!

Gables Club Sale Price Per Square Foot

View some of the units available for sale at The Gables Club:

  1. 3 beds, 3 full, 1 half baths
    Home size: 3,165 sq ft
    Year built: 2003
    Parking spots: 2
    Days on market: 23
  2. 2 beds, 3 full, 1 half baths
    Home size: 2,970 sq ft
    Year built: 1996
    Parking spots: 2
    Days on market: 25
  3. 4 beds, 4 full, 1 half baths
    Home size: 4,170 sq ft
    Year built: 1997
    Parking spots: 4
    Days on market: 43

See all Gables Club.
(all data current as of 2/22/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

Hammock Oaks | Live In A Coral Gables Gated Community For Less

March 30th, 2015 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate, Coral Gables Waterfront Homes

Hammock Oaks, Coral Gables

Hammock Oaks is a quiet, family friendly gated-community situated off of Old Cutler Road in Coral Gables. When you enter Hammock Oaks you will notice right away the lush vegetation that surrounds the homes and two large lakes which are the focal point of the community. While many of the homes are waterfront, they do not have access to the open water.  However, there are some homes that come with a community dock space which does provide ocean access.

There have been two homes sold in Hammock Oaks so far in 2015. The first was a beautiful Ramon Pacheco designed estate located at 414 Rovino Avenue with stunning water views, limestone flooring, wet bar, split floor plan, elevator and steam shower in the cabana bath. The home sold for $2,200,000 or $348.00/square foot.  The second sale in Hammock Oaks this year was located at 11060 Marin Street; this was a 5,288 square foot home with expansive living areas, high ceilings, oversize terrace for entertaining and impact windows and doors.  The home sold for $1,850,000 or $349.00/square foot.

Last year there were 5 homes sold in Hammock Oaks and they closed for an average sale price of $1,465,000 or $386.00/sq. ft.

Hammock Oaks is a great opportunity to live in a gated community for significantly lower prices than you will find in the nearby gated communities of Cocoplum, Gables Estates, Snapper Creek Lakes and Journey’s End where prices can average $5,000,000.

If you are interested in learning more about this unique community please contact us.

We are the #1 Top Producing Realtors at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.

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