The Riley Smith Group Ranks #1 At EWM’s Coral Gables Office

February 3rd, 2015 Written By


Categorized under Coral Gables Real Estate

Coral Gables Top Realtor

In case you missed The Miami Herald this weekend, EWM announced its 2014 Top Producers. I am proud and honored that The Riley Smith Group ranked #4 out of 800 agents. We were also the #1 Top Realtors in the Coral Gables office with over $69,000,000 sold and 120 transactions.

I would like to thank our fantastic team for helping us reach our goals every year! Our hard-working agents include Dominique Duque, Jessica Adams, Carleen Smith, Liz Perdigon, Bea Citron and Roque Castro. Learn more about our team on our website: TheRileySmithGroup.com. 

We look forward to assisting many buyers and sellers in 2015!

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Coral Gables Foreclosure Flip | 6815 Brighton Place

January 26th, 2015 Written By


Categorized under Coral Gables Real Estate

Foreclosure Flip in Coral Gables

Now that the economy has turned around, we are seeing fewer and fewer foreclosures come on the market in Coral Gables.  Typically when they do hit the MLS, they are under contract in a matter of days and the buyers are usually investors who offer very favorable terms (i.e. cash and a quick closing!).  The property at 6815 Brighton Place came on the market in 2014 as a foreclosure and sold right away for $1,300,299.  The home offered 5 bedrooms, 5.5 baths with 4,048 square feet of living area on a 10,001 square foot lot.

Now renovated, the home is back on the market listed for $2,149,000.  The MLS description states that everything is brand new including a high-end kitchen, Travertine pool deck and Travertine driveway.

In 2014 there were 20 foreclosures sold in Coral Gables.  They closed for an average of $482,000 or $226.00/square foot.

View a list of Coral Gables Foreclosures below:

  1. 3 beds, 3 full baths
    Home size: 1,708 sq ft
    Lot size: 5,885 sqft
    Year built: 1955
    Parking spots: 4
    Days on market: 46

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

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

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Coral Gables Homes For Sale On Large Lots

January 20th, 2015 Written By


Categorized under Coral Gables Real Estate

Calibria Coral Gables Land

An average home in Coral Gables is situated on a lot size between 5,000 and 15,000 square feet.  You will find homes in all price ranges located on lots of this size.  If you are looking for a home with a larger piece of land (15,000+ square feet), you will find that these homes are listed for over $1,000,000.  Insider’s Tip! If you do happen upon a home listed under $1,000,000 that comes with a 15,000+ square foot lot, it is most likely selling for land value.

There are several homes available for sale which have hit the market recently with large lot sizes, check out a few of them below!

  • 1217 Granada Boulevard, Coral Gables | 5 bedrooms, 4 baths | 4,844 sq. ft. LA | 20,000 sq. ft. lot | List Price: $1,499,000 |Listed by Rose Realty |  See more photos and information here.
  • 1025 Sorolla Avenue, Coral Gables | 5 bedrooms, 5.5 baths | 4,061 sq. ft. LA | 25,800 sq. ft. lot | List Price: $1,650,000 | Listed by Sea Grove Realty | See more photos and information here.
  • 8251 Old Cutler Road, Coral Gables | 6 bedrooms, 6.5 baths | 6,599 sq. ft. LA | 41,132 sq. ft. lot | List Price: $2,999,900 | Listed by Ocean Max Realty | See more photos and information here.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Land In The Platinum Triangle Sells For $95.00/Sq. Ft.

January 15th, 2015 Written By


Categorized under Coral Gables Real Estate, The Platinum Triangle

A piece of land located at 510 Tivoli Avenue closed this week for full price of $1,050,000 (Broker was Avatar).  This was an 11,000 square foot lot on a rarely available street in The Platinum Triangle.  It closed for $95.00 per square foot which is very high for land in Coral Gables.  Typically we see non-waterfront lots in Coral Gables sell for an average of $50.00 per square foot.  Take a look at the below spreadsheet of all non-waterfront land sales in Coral Gables during 2014:

Coral Gables Land Sales

Interested in buying land in Coral Gables? Check out a few of the current properties available below.

  1. 0 beds, 0 baths
    Lot size: 1.21 ac
    Days on market: 4
  2. 0 beds, 0 baths
    Lot size: 15,600 sqft
    Days on market: 6
  3. 0 beds, 0 baths
    Lot size: 7,800 sqft
    Days on market: 10
  4. 0 beds, 0 baths
    Days on market: 11
  5. 0 beds, 0 baths
    Lot size: 7,875 sqft
    Days on market: 28

See all Coral Gables Land For Sale.
(all data current as of 2/21/2017)

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

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Comprehensive Review Of Coral Gables Real Estate In 2014

January 7th, 2015 Written By


Categorized under Coral Gables Real Estate, Coral Gables Waterfront Homes

As a whole, the Coral Gables real estate market fared extremely well in 2014.  In my opinion, there are three things that defined the year; these would be: #1: Low Inventory, #2: Bidding Wars, #3: High Prices.  I have created the below charts which show how the Coral Gables real estate market has changed between 2011 and 2014.  The numbers depicted show the market as a whole and are also broken down into waterfront vs. non-waterfront sales.

The first group of charts show the number of homes sold in Coral Gables.  Overall, the number of sales were down in 2014.  This is due to the fact that we suffered from low inventory levels.  There just weren’t enough homes on the market to sell.  Because demand was high, this factor resulted in bidding wars on many properties that hit the market.  And many buyers became frustrated with having to compete against several offers on every property they were interested in.

When you break the numbers down even further, you can see that it was really the number of non-waterfront sales that slowed down.  In contrast, the number of waterfront homes sold were virtually identical to 2013.

Coral Gables Real Estate Chart

Coral Gables Real Estate Chart

Coral Gables Real Estate Chart

The second batch of charts below show the average sale price of homes in Coral Gables.  2014 was a great year for residents of Coral Gables who saw their home prices rise to an average of $1,279,000, the highest average price on record.  We experienced a price increase in both waterfront and non-waterfront homes.  Waterfront homes increased in price by 17% whereas non-waterfront homes increased by 11% from 2013.  Note: 2012 was a record year for waterfront homes sold in Coral Gables, and as you can see 2014 did not reach those figures.

Coral Gables Real Estate Chart

Coral Gables Real Estate Chart

 

Coral Gables Real Estate Chart

Last we have the charts which show the “Average Sale Price/Square Foot” of homes sold in Coral Gables.  This is perhaps the most exciting number.  Overall, we had an increase of 13% between 2013 and 2014.  That is a very large increase to occur in just 12 months.  More good news is that we saw increases in both the waterfront and non-waterfront segments. Waterfront homes increased by 23% and non-waterfront homes increased by 8%.

Coral Gables Real Estate Chart

Coral Gables Real Estate Chart

Coral Gables Real Estate Chart

As you can see the Coral Gables real estate market is changing rapidly.  If you are a resident of Coral Gables and haven’t had a price valuation completed in a few years, feel free to call us for a no pressure assessment.  We would be happy to sit down with you and discuss the value of your home.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Home In Cocoplum Sells For Full Price | 125 Gavilan Avenue

December 30th, 2014 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

Home In Cocoplum

We have seen values in Cocoplum rise significantly in 2014.  The average “sale price per square foot” climbed from $489.00 in 2013 up to $537.00 in 2014. Although we saw approximately the same number of sales, the total volume sold increased by nearly $10,000,000.

Home Sold In Cocoplum

Last week the property located at 125 Gavillan Avenue in Cocoplum closed for full price of $2,800,000.  This house offered 5,000 square feet of living space with 5 bedrooms, 4.5 baths on a 15,500 square foot lot.  It was on the market for less than 30 days before going under contract.  Listing broker was Avanti Way.

Home Sold In Cocoplum

This full price sale is pretty unusual for Cocoplum.  Out of the 24 homes which sold this year, only 1 other home closed over asking price.  Homes in Cocoplum tend to sell 9% off of their list price whereas homes in the rest of Coral Gables sell at an average of 5% off of list price.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Another Home Sold In Coral Gables By The Riley Smith Group!

December 15th, 2014 Written By


Categorized under Coral Gables Real Estate

Sunset Drive

Just in time for the holidays! Congratulations to our buyers who just purchased the property located at 825 Sunset Drive in Coral Gables.   The home is in pristine condition and situated on a rare double lot.  It has been recently updated with a new roof, impact glass and new kitchen and bathrooms.  We wish them happiness and joy as they bring in the new year in their new home!

We would also like to congratulate Bea Citron, one of our Coral Gables real estate specialists, who worked diligently with these clients to help them secure this great property!

Details of 825 Sunset Drive:

  • 2,459 Square Feet Of Living Area
  • 10.000 Square Foot Lot
  • 3 Bedrooms, 2 Baths
  • Sale Price: $900,000

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Highest Non-Waterfront “Sale Price/Square Foot” In Coral Gables?

December 11th, 2014 Written By


Categorized under Coral Gables Real Estate

541 Hardee New

It would be no surprise that the highest “sale price/square foot” in Coral Gables went for a waterfront residence in a gated community.  However, I thought it would be more interesting today to show you just how high buyers would go for a dry property.  So far this year, the highest “sale price/square foot” for a non-waterfront home is 541 Hardee Road located in the historic French Village.  This home sold for $620.00/square foot.  Surprisingly, this property also received a higher “SP/SQ. FT.” than other homes which sold in gated communities (non-waterfront).  541 Hardee had all the attributes of a strong sale.  First, it was part of George Merrick’s French Village which is steeped in history.  Second, it had been meticulously renovated and restored with the finest finishes.  Third, it was one of a kind.  You will not find a property similar to this anywhere else in Coral Gables.

Not only did it sell for the highest “sale price/square foot” for non-waterfront properties this year, but it also went under contract in 5 days which shows you how high demand is for homes in the French Village.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

 

Cocoplum Sees Another Year Of Increasing Values

December 9th, 2014 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate

Cocoplum Market Data

Cocoplum has seen another year of increasing values with the average “Sale Price/Square Foot” coming in at $542.00 this year.  The number of total sales has remained relatively stable (22 in 2014, 26 in 2013 and 21 in 2012) showing that buyers are not turned away by the higher prices in Cocoplum.  Sometimes when you see such a drastic increase in price over a short period of time buyers become hesitant to jump into the market.  However, that has not been the case here and is great news for anyone thinking about selling in this prestigious gated community.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate  | Brickell Condo Blog  | Key Biscayne Real Estate

Another Coral Gables Home SOLD By The Riley Smith Group!

December 2nd, 2014 Written By


Categorized under Coral Gables Real Estate

Messina Collage

Congratulations to our clients who just sold their home located at 806 Messina Avenue in Coral Gables.  They purchased this lovely North Gables home in October of 2013 for $530,000, and closed  yesterday for a sale price of $575,000.  That is a nice profit in just 1 year! This property offered 3 bedrooms, 2 baths with 1,623 square feet of living space on a 5,000 square foot lot.  It had light filled living spaces with new hardwood floors, an updated master bath with California closets and impact glass throughout.  It also offered a bonus room/office and garage.

Our Coral Gables real estate specialist Liz Perdigon got this home under contract in less than 30 days!

If you are interested in learning more about how we market our properties so that they sell quickly and for the highest price possible, contact us at 305-342-1623 or you can send us a message here.

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