The Gables Club Ends 2012 With Strong Numbers!
The Gables Club suffered from some below average sales in 2011, but I am happy to report that in 2012 they made a solid recovery with sales prices coming in at an average of $443.00 per square foot. These numbers are in line with similar positive trends we are experiencing across the Miami condo market (Read: Record Breaking $27 Million Condo Sale on Miami Beach).
Below are the 2012 sales at The Gables Club:
- 10 Edgewater Drive, #3E | 2,960 Sq. Ft. | Sale Price: $1,200,000
- 10 Edgewater Drive, #7E | 2,960 Sq. Ft. | Sale Price: $1,065,000
- 10 Edgewater Drive, #10C | 2,970 Sq. Ft. | Sale Price: $1,695,000
- 10 Edgewater Drive #15F | 2,950 Sq. Ft. | Sale Price: $1,510,000
- 10 Edgewater Drive #15AC | 7,500 Sq. Ft. | Sale Price: $4,950,000
- 60 Edgewater Drive #3E | 3,100 Sq. Ft. | Sale Price: $1,290,000
- 60 Edgewater Drive #3G | 2,960 Sq. Ft. | Sale Price: $849,900
- 60 Edgewater Drive #4G | 2,960 Sq. Ft. | Sale Price: $1,050,000
- 60 Edgewater Drive #4H | 2,960 Sq. Ft. | Sale Price: $925,000
- 60 Edgewater Drive #9C | 3,100 Sq. Ft. | Sale Price: $1,603,000
- 60 Edgewater Drive #11D | 3,165 Sq. Ft. | Sale Price: $1,425,000
- 60 Edgewater Drive #16F | 3,165 Sq. Ft. | Sale Price: $1,475,000
To view what is currently available in The Gables Club, click here.
If you are a buyer or seller and are looking for a Realtor who specializes in Coral Gables, please contact us directly at 305-342-1623 or send us a message 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Inventory Reaches New Low In Coral Gables
Realtors across Coral Gables are frustrated with the lack of inventory on the market. The good news is that although the overall number of homes for sale is down, we are still seeing a lot of turnover. New listings are hitting the market every day however they are getting snapped up quickly by motivated buyers who have lost out on other properties.
In this environment you have to be ready to act fast and put forth a strong offer if you want to secure a good, well priced property. Earlier this week we had two groups of buyers who were involved in multiple offer situations on homes in Coral Gables. In these scenarios it is helpful to know ahead of time whether or not there are other offers pending so that you can put your best foot forward.
If you are a buyer or seller and are looking for a Realtor who specializes in Coral Gables, please contact us directly at 305-342-1623 or send us a message 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Inventory Low For Golf Course Homes In Coral Gables
I talk to many buyers who are strictly looking for a home with golf course views. Coming from someone who has spent quite a lot of time on the green, I can certainly see the appeal. Meticulously landscaped grounds, the tranquility of a home with no cars or noisy neighbors behind you and the added benefit of being able to play a hole or two at twilight.
With a total of four golf courses scattered throughout the residential neighborhoods of Coral Gables, it is surprising that there are just 4 homes for sale with golf course views.
Check out the golf course homes currently for sale in Coral Gables:
1244 Anastasia Avenue | Located on The Biltmore Golf Course | 7 Bedrooms, 7 Baths | 9,057 Square Feet Of Living Space | 25,000 Square Foot Lot | List Price: $3,495,000 | Listed by One Sotheby’s
4320 Santa Maria | Located on the Riviera Golf Course | 5 Bedrooms, 4 Baths | 6,550 Square Feet Of Living Space | 16,875 Square Foot Lot | List Price: $3,425,000 | Listed by EWM Realtors
3406 Granada Boulevard | Located on The Biltmore Golf Course | 5 Bedrooms, 6 Baths | 4,707 Square Feet of Living Space | 28,500 Square Foot Lot | List Price: $2,995,000 | Listed by Real Estate Sales Force
4501 Santa Maria Street | Located on Riviera Golf Course | 3 Bedrooms, 3.5 Baths | 3,878 Square Feet Of Living Space | 12,507 Square Foot Lot | List Price: $1,990,000 | Listed by Coldwell Banker
In 2012, there were 10 golf course homes sold in Coral Gables (these ranged in price from $825,000 to $3,695,000).
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Gables Estates – Best Performer In 2012
I hereby award Gables Estates “All Around Best Performer” for Coral Gables real estate in 2012. Gables Estates had the highest volume (compared to other gated communities in Coral Gables), recorded the highest sale price ($16,750,000) and the highest sale price per square foot ($2,242 psf) in Coral Gables during 2012.
Being Coral Gables’ most prestigious gated community, these figures may not be surprising to some of you. However Gables Estates does not always have the highest sale for the year or even the most volume for a gated community in Coral Gables.
For some unexplained reason, the community had an incredible amount of turnover during 2012 on their ultra-luxury waterfront homes. The chart above tracks Gables Estates over the past 3 years.
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note here.
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New Year Means New Homes For Sale In Coral Gables
As I predicted there has been a large influx of new inventory which has come on the market in Coral Gables now that the holidays have passed. Just in the last 7 days, 23 new Gables listings have hit the MLS. Prices on these homes range from $299,000 to $4,000,000 which means there is something new for buyers in all price ranges.
Here are a few of the standouts:
280 Las Brisas Court | Gated Community of Cocoplum | List Price: $3,895,000 | 5 Bedrooms, 5 Baths | 7,313 Square Feet Of Living Space | 20,474 Square Foot Lot | Listed by Shelton and Stewart
203 Woodridge Road | Modern Style Finishes | List Price: $1,498,000 | 4 Bedrooms, 4.5 Baths | 2,700 Square Feet Of Living Space | 11,925 Square Foot Lot | Listed by EWM Realtors.
335 Sarto Avenue | Charming Old Spanish | List Price: $399,000 | 2 Bedrooms, 2 Baths | 1,106 Square Feet Of Living Space | 5,000 Square Foot Lot | Listed by ReMax
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Coral Gables Real Estate 2012 Year In Review
The numbers are in and it is clear that 2012 was an incredible year for real estate in Coral Gables. Across the board we experienced more sales, higher prices and faster transactions. The average sale price per square foot in Coral Gables jumped from $277.00 in 2011 to $303.00 in 2012 and the volume rose from$470,125,208 in 2011 to $613,668,311 in 2011. Another important figure was that the sale price to list price ratio increased by 2% from 91% to 93% in 2012 which indicates that sellers garnered a higher percentage of their asking price than they did last year.
Take a look at some of the other more notable figures from 2012:
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Is The Coral Gables Real Estate Market THAT Good?
This year there were two homes in Coral Gables that sold significantly above their asking price. First, 7711 Mindello Street sold for $800,000 while the asking price was only $675,000. Second, 5705 Riviera Drive sold for $900,000 while the asking price was just $775,000. I had a reader ask me the other day in reference to these sales, is the market THAT good? I told him to beware of just looking at the raw figures, many times in real estate things aren’t always what they seem.
As it turns out, both of these homes were short sale properties which typically means that they were priced slightly lower than market value in order to attract offers. Once they received an offer and submitted it to the bank, the bank counter-offered with a value that was more in line with the local comparable sales. At that point, the buyer was free to accept or reject the counter-offer. Here, it appears that both buyers accepted and the transactions moved to the closing table.
Be careful when trying to evaluate the market on your own, often times an atypical sale price has a good explanation behind it.
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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838 Milan Avenue Under Contract!
I am happy to announce that our beautiful listing at 838 Milan Avenue in Coral Gables has gone under contract. The buyers have completed their due diligence and at this point we are just waiting to close. This home offered 2,764 square feet of living space on a 13,678 square foot lot and was listed for $949,000.
As I mentioned in my recent Coral Gables Pending Sales Report, the market is hot for those $1,000,000 and below homes. Unfortunately the supply of Coral Gables homes is out of line with the demand. Although it is the most active segment of the market, only 38% of homes for sale in Coral Gables are listed under $1,000,000.
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Now For The Good News….
After yesterday’s news about the falling values of pending home sales in Coral Gables, I thought I would post something today to lift everyone’s spirits.
You may remember that 2011 was a record breaking year in terms of number of sales as well as volume sold of real estate in Coral Gables. I am thrilled to report that we have now exceeded those numbers for 2012!! With a few weeks left in the year, Coral Gables has had 504 single family home sales compared to 476 homes sold during all of 2011. We are also ahead on volume with $583,603,811 sold in Coral Gables as of December 14, 2012 and just $470,125,208 sold during all in 2011.
Back in March of this year I reported here that we were already ahead of 2011′s numbers in terms of volume but roughly the same in the number of sales. The volume figure had been drastically increased at that time by several ultra-luxury home sales in Gables Estates.
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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Are Lower Home Values In Coral Gables Future?
Existing sales reports tell you what has happened in the past whereas a pending sale report will show you what is going to happen in the future.
Currently in Coral Gables there are 96 homes under contract. The average “list price per square foot” of these pending home sales is $268.00 which is well below the average “selling price per square foot” in Coral Gables during 2012 ($302.00).
Although I can’t predict the future, there are certain trends that I look at to help determine the direction of the market in the coming months. These figures indicate that there may be a slight dip in certain segments of the Coral Gables real estate market in the months ahead.
The pending sales also show what the buyer demand is at the moment, and you can see from the chart below that the $1,000,000 and below homes are certainly the most active.
We know Coral Gables real estate. If you are interested in buying, selling, building or renting and are looking for Realtors who specialize in Coral Gables, please feel free to contact us at 305.342.1623 or send us a note 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 Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.
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