Where Do Our Readers Come From?
November 2nd, 2011 Categories:Coral Gables Real Estate
Above is a snapshot of our Google Analytics page where we can view how many visitors come to our site, where they come from and what search criteria they used to get here.
The above map represents the cities where our readers have come from in 2011. As you can see we have a large amount of international visitors and according to Google Analytics we are seeing the highest number of visits from the U.S., Argentina, United Kingdom, Canada and Colombia. So far this year, we have had over 25,000 visits and 32,000 page views from over 1,852 cities on the www.CoralGablesRealEstateVault.com.
The Riley Smith Group offers an unsurpassed level of local and global exposure for its Coral Gables listings. Call us today for a no pressure home valuation. Contact The Riley Smith Group here.
Absorption Rates In Coral Gables
October 31st, 2011 Categories:Coral Gables Real Estate
An absorption rate is defined by the amount of time it would take to sell all of the inventory currently on the market, and it is a very good indicator of the stability of our real estate market. It is calculated by dividing the number of homes for sale by the number of homes sold. A very high absorption rate is indicative of a slow/buyer’s market whereas a very low absorption rate is indicative of a busy/seller’s market. A balanced market according to experts is anywhere from 6 to 9 months.
As you can see, for several months Coral Gables experienced some healthy absorption rates of 6.1 to 9.5 however last month we bumped up again to 10.1 months. With the busiest season for real estate in South Florida upon us, we should certainly expect to see absorption rates falling over the next few months. To give you some perspective, Coral Gables had absorption rates as low as 3 months back in 2005 and as high as 25 months in 2007.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here.
Foreclosures In Coral Gables
October 28th, 2011 Categories:Coral Gables Real Estate
It appears that the foreclosure market in 2011 will remain relatively stable as we close out the year. There have been 33 foreclosures sold so far and there are currently 6 pending. If all of them close this year it would give us approximately the same number of foreclosures we had in 2010.
Take a look at the charts I created below, you will notice some interesting numbers. The sale price of foreclosures in Coral Gables has drastically increased over the past few years up to $644,320 however the price per square foot has remained stable at around $200.00 psf This means that buyers who purchased foreclosures this year in Coral Gables got more bang for their buck than in previous years.
Currently there are only 3 foreclosures that are actively on the market. They range in price from $259,900 and go all the way up to $3,675,000 with an average price/sq. ft. of $362.00.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here.
New Listing In The Platinum Triangle, Coral Gables
October 27th, 2011 Categories:Coral Gables Real Estate, The Platinum Triangle
A new listing came on the market this week in the Platinum Triangle area of Coral Gables located at 710 Tibidabo Avenue. For those of you who aren’t familiar with the Platinum Triangle you can read the post I wrote awhile back titled The Platinum Quadrangle. This home offers 2,304 square feet of living space on a 9,400 square foot lot with 4 bedrooms and 3 baths. It is completely turn-key ready with an updated kitchen and baths. The home is listed for $869,000 by Teresita DeBlank. For more photos of 710 Tibidabo click here.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here.
Southeast Gables – Entry Level Homes Are Selling!
October 26th, 2011 Categories:Coral Gables Real Estate
I consider an entry level home in Coral Gables to be anything under $500,000. The Southeast Gables has always been a great location for entry level buyers. In 2011 there were 9 homes in the area which sold for under $500,000, and 13 which sold for over $500,000. Right now there is only 1 home priced under $500,000 in this pocket of Coral Gables. If you can buy an entry level home in a neighborhood where sales go all the way up to $1,800,000 you can bet that your home’s value will only increase in the coming years.
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.
New Listing Hits The Market In Gables Estates, Coral Gables
October 25th, 2011 Categories:Coral Gables Gated Communities, Coral Gables Waterfront Homes
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 priced between $4,995,000 all the way up to $23,000,000. View all Homes For Sale In Gables Estates here. There have been just 2 sales in Gables Estates this year, the first for $5,150,000 and the second for $4,750,000.
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.
Cocoplum Real Estate Market Update
October 24th, 2011 Categories:Coral Gables Gated Communities, Coral Gables Real Estate
The gated community of Cocoplum has had an extremely busy real estate market this year. There have been a total of 22 sales since January 1st, 2011 and there are currently 4 under contract. As predicted, this is going to be a record setting year for Cocoplum. The average home in Cocoplum sells for $2,500,000 at a price per square foot of $416.00. Click here to view homes for sale in Cocoplum, Coral Gables.
Click on the chart below to see closed sales in Cocoplum this year.
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.
Good Karma In Real Estate
October 21st, 2011 Categories:Coral Gables Real Estate
About 6 months ago I received a call from a seller who was in a very interesting position. She had an offer on her home which had been negotiated to a number that was over $1,000,000. She also had her home listed with a real estate agent who’s agreement was about to expire. She asked me what I thought about the price of the offer as well as the value of her home and then went on to say that if she didn’t take the offer she wanted to let go of her current realtor and hire me to try to sell the property. I knew the house well as I had shown it several times to my own buyers and I also knew that the offer she had in her hands was a good price and that she should take it. I gave her my opinion and she thanked me for my honesty. I knew that by telling her this it meant that I wouldn’t get the listing, but I pride myself on being truthful and this was no exception.
About a week ago I got a call from another seller who asked me to come give a valuation of their home. When I got to the property they told me that I had been recommended by their friends who turned out to be the sellers from the above story. We signed the papers on their $1,000,000+ listing yesterday.
I certainly believe that what goes around comes around, and this scenario is just an affirmation of that belief.
Pending Home Sales In Coral Gables
October 20th, 2011 Categories:Buying Real Estate In Coral Gables, Selling Real Estate In Coral Gables
Looking at pending home sales gives you a better indication of where the market is headed. Nationwide pending sales are steady, if you take a look at the first chart below you can see that the momentum of pending sales continued throughout the summer which sets us up for a great finish to 2011 as well as a good start to 2012.
Locally here in Coral Gables we are seeing the same trend. The red line in the second chart shows pending sale history in Coral Gables. You will notice a bump during May and June of this year which were the highest pending sale figures we have experienced in more than 4 years. As a whole the pending sales are stable which is a great sign for real estate in Coral Gables.
On a sidenote you can also see how low the inventory has fallen in the Gables which is indicated by the light green bars. The combination of lower inventory and higher demand contributes to a healthy market.
NATIONAL PENDING HOME SALES
CORAL GABLES PENDING HOME SALES
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.
New Price On Riviera Golf Course Home, Coral Gables
October 19th, 2011 Categories:Coral Gables "Golf Course Front" Homes For Sale, Coral Gables Real Estate
My listing located on the highly sought after Santa Maria Street has a new price of $3,575,000 (down from $3,800,000). This home offers incredible views of the Riviera Golf Course’s 15th Fairway which is the widest section of the golf course. It is one of five of Geroge Merrick’s original Pioneer Village homes built in 1926 and was extensively restored in 2008 to include impact glass, gas generator, exquisite built-in cabinetry, slate roof, luxurious master suite and separate garage apartment.
George Merrick was the planner and builder of the City Of Coral Gables. He had the vision to build several international “villages” throughout the city to attract buyers from up north. The Colonial Revival influence of George Merrick’s Pioneer Village is derived from the late 19th Century New England architects who were influenced by Georgian and European designs. The homes in The Pioneer Village can be found along Santa Maria Street which is surrounded by the Riviera Golf Course.
View a photo tour of 4320 Santa Maria here. If you would like to schedule a showing of this property, please contact me directly at 305-342-1623.
