Coral Gables Condo Sells For $666.00 PSF
February 8th, 2010 Categories:Coral Gables Condos
What was the highest “Price Per Square Foot” received for a Coral Gables condominium in 2009? Was it a Penthouse in Deering Bay? No. Was it a designer unit at Gables On The Green? No.
In fact, the condominium that garnered the highest “Sale Price Per Square Foot” in 2009 was for a 450 square foot ground floor unit at The Gables Club. This “Guest Suite” was available to Gables Club owners only and featured 2 bedrooms, 1 bath or/ 1 bedroom, 1 bath and den. The space could be used for guests, staff or as an office. It sold for $400,000.
Other sales in 2009 in the Gables Club were:
- Tower 1 | Unit 4H | 2 bedroom, 3 bath | 2,570 square feet | Sale Price: $800,000
- Tower 1 | Unit 3G | 2 bedroom, 3 bath | 2,590 square feet | Sale Price: $650,000
- Tower 2 | Unit 9G | 2 bedroom, 3 bath | 2,960 square feet | Sale Price: $1,262.500
- Tower 2 | Unit 104 – Guest Suite | 2 bedroom, 1 bath | 450 square feet | Sale Price: $300,000
- Tower 2 | Unit 7G | 2 bedroom, 3 bath | 2,960 square feet | Sale Price: $1,400,000
- Tower 2 | Unit 8E | 3 bedroom, 3.5 bath | 3,100 square feet | Sale Price: $1,200,000
If you are interested in buying or selling real estate in Coral Gables and are looking for an experienced local realtor, please give me a call at 305.342.1623 or send me a note here.
New Foreclosure in Coral Gables
February 5th, 2010 Categories:Buying in Coral Gables
A new foreclosure came on the market in Coral Gables today, it is located at 1201 Andora Avenue. The list price is $404,900, and it has 3 bedrooms, 3 baths with 2,317 square feet of living space on a 9,317 square foot lot. Asking price per square foot is $174.00 which is about $100.00 less than the average in Coral Gables.
If you are interested in buying or selling real estate in Coral Gables and are looking for an experienced realtor, please feel free to contact me at 305.342.1623 or send me a note here.
Snapper Creek Lakes of Coral Gables, Market Update
February 4th, 2010 Categories:Coral Gables Gated Communities
Snapper Creek Lakes is a prestigious gated community in the city of Coral Gables. The entrance sits across from Fairchild Gardens on Old Cutler Road. Snapper Creek Lakes has a bay access marina, 24 hour gated security and high end homes with acre+ estates ranging in price from $1,699,000 to $12,500,000. The community sits within the highly desirable Pinecrest/Palmetto school district. The average list price per square foot is $595.00 currently in Snapper Creek. There was only 1 closed sale in Snapper Creek in 2009, it was a 5,469 square foot home on a 57,499 square foot lot with 5 bedrooms, 5.5 baths. The home was on the market for 5 months and after 4 price reductions it sold for $2,100,000 (original list price was $3,900,000). EWM was the listing and buying broker for the home. Photos and Information on homes for sale in Snapper Creek Lakes, Coral Gables.
The above home just came on the market today in Snapper Creek today priced at $3,750,000. It is a 7,243 square foot home with 5 bedrooms and 5 baths. It sits on 1.3 acres of land and was built in 2005. The home is located at 5295 Fairchild Way.
If you are interested in buying or selling real estate in Coral Gables and are looking for an experienced realtor please contact me on my cell at 305.342.1623 or send me a note here.
Deering Bay Yacht and Country Club, February Newsletter
February 3rd, 2010 Categories:Coral Gables Real Estate
Many people don’t realize that you don’t have to live in Deering Bay to be a member of the Deering Bay Yacht and Country Club. You can also live there and not become a member. However, if you both live in Deering Bay and become a member you are choosing a lifestyle in South Florida that is like nowhere else. Check out all of the events and activities that Deering Bay’s Yacht and Country Club has to offer in their February Newsletter.
I have a Deering Bay Specialist on my team who lives in the community and offers a unique perspective on the real estate market there. Click to view all properties for sale in Deering Bay. If you are interested in buying or selling real estate in Deering Bay or anywhere in Coral Gables feel free to give me a call at 305.342.1623 or send me a note here.
New Listing In The Golden Triangle Area Of Coral Gables
February 2nd, 2010 Categories:The Golden Triangle
Homes in the Golden Triangle area sell at a premium due to their prime location within Coral Gables. There is a new property currently on the market in this exclusive area. The home is located at 630 Escobar Avenue and features 4 bedrooms, 3 baths with 3,764 square feet of living space on a 10,500 square foot lot. Other special features include wood beamed ceilings, marble floors, a master suite upstairs with walk in closets and large master bath. The home has a lush pool and patio area and is within walking distance to the Biltmore Hotel and Golf Course. The asking price is $1,195,000 and is listed by EWM Realtors, Inc.
For a list of homes for sale in the Golden Triangle of Coral Gables, click here.
If you are interested in buying or selling real estate in Coral Gables please feel free to contact me at 305.342.1623 or send me an email at smith.r@ewm.com.
The Foreclosure Market In Coral Gables
January 31st, 2010 Categories:Coral Gables Real Estate
Coral Gables Foreclosure | 4114 San Amaro Drive | Sale Price: $601,000
In 2009 there were 53 single family foreclosure homes that sold in Coral Gables. Of these homes, the average selling price was $368,882 with an average sales price per square foot of $170.00. To put these numbers into perspective, the average sales price of a non-distressed home in Coral Gables (2009) was $987,687 at an average sales price per square foot of $284.00.
As would be expected the sales price to list price ratio for foreclosure homes in Coral Gables is 96% whereas the ratio is only 90% for non-distressed homes. In layman’s terms, the foreclosure homes sold much closer to the asking price than the non-foreclosures. This is due to the fact that the properties are already heavily discounted when they hit the market and buyers recognize the value in them. View all properties that SOLD in foreclosure in Coral Gables in 2009.
Shockingly there are only 5 single family homes on the market right now in Coral Gables that are currently in foreclosure. They are all priced under $1,000,000. View all foreclosure properties for sale in Coral Gables.
Contact me here, or call me on my cell at 305.342.1623 if you are interested in buying, selling or renting real estate in Coral Gables, Florida.
International Investors In South Florida
January 29th, 2010 Categories:Coral Gables Real Estate
The US dollar has dropped 8 to 11% since June against foreign currencies such as the Japanese yen, the European euro and the Canadian dollar. According to NAR, nearly 46% of international buyers paid cash for homes purchased and the median price was $80,000 higher than the US national median price.
I have definitely seen an increase in the number of international buyers looking to invest in real estate here in South Florida. From China to Ireland, I am working with people from all over the globe. Some are seeking permanant residence here but others are just looking for a second home or an investment. We have always had a good amount of South American buyers in Miami, but I would say that over the past few years Miami has seen a large increase in European investors.
Through my blogs I am connected to international buyers on a regular basis. If you are interested in investing property in Coral Gables or anywhere in South Florida I would be happy to talk with you about the state of our market here.
Golf Course Front Properties In Coral Gables
January 28th, 2010 Categories:Coral Gables "Golf Course Front" Properties
I was out visiting Broker’s Open houses yesterday and stopped by this property located on the Biltmore Golf Course. It is a classic Gables estate with sweeping views of the golf course and the Biltmore Hotel.
Details of 3613 Alhambra Court:
- 4 bedrooms, 4 baths
- 4,714 square feet of living space
- 25,651 square foot lot
- Asking Price: $3,795,000
To view other properties that offer great golf course views, click here
Contact me here, or call me on my cell at 305.342.1623 if you are interested in buying, selling or renting real estate in Coral Gables, Florida.
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Which Condos Are Selling In Coral Gables?
January 27th, 2010 Categories:Coral Gables Condos
Avignon In The Gables
Buyers are finding value in the condominiums located in downtown Coral Gables and I can see why. For $600,000 and under you can have a great property that is within walking distance to all of the top Gables restaraunts, bookstores and shops. And if you work in Coral Gables the incentive is even higher. Take a look at the closed condos this month that occurred in downtown Coral Gables.
- Avignon In The Gables | 3 bedroom, 2.5 bath | Sale Price $540,000
- Andalusia | 2 bedroom, 2.5 baths | Sale Price: $355,000
- Ten Aragon | 2 bedroom, 2 bath | Sale Price: $295,000
- Villa Zamora | 2 bedroom, 2 bath | Sale Price: $205,000
- Ten Aragon | 1 bedroom, 1 bath | Sale Price: $162,000
Andalusia Condominium
If you would like to work with an experienced realtor in the Coral Gables area, contact me at 305.342.1623 or send me a note here.
Recent Sales In Coral Gables
January 25th, 2010 Categories:Coral Gables Real Estate
5530 Kerwood Oaks Drive | 5 Bedroom, 4 Baths | Sale Price: $2,100,000
There have been 10 closed sales in Coral Gables this month. Most notably 5530 Kerwood Oaks Drive was listed at $2,900,000 and sold for $2,150,000. This was a 5 bedroom, 4 bath home on a 51,000 square foot lot located on its own private lake. The home was designed by Donald Singer. The house sold for $392.00 per square foot which is more than $100.00 higher than the average Coral Gables home sale.
The other recent sales included:
- 549 San Esteban Avenue | 6 bedrooms, 5 baths | List Price: $1,200,000 | Sale Price: $1,100,000
- 5201 Alhambra Circle | 5 bedrooms, 6 baths | List Price: $1,199,000 | Sale Price: $1,199,000
- 1020 South Alhambra Circle | 4 bedroom, 3 bath | List Price: $850,000 | Sale Price: $760,000
- 1148 Obisbpo Avenue | 4 bedroom, 3 bath | List Price: $849,000 | Sale Price: $795,000
- 1035 Cotorro Avenue | 3 bedroom, 3 bath | List Price: $625,000 | Sale Price: $489,600
- 931 Placetas Avenue | 3 bedroom, 2 bath | List Price: $595,000 | Sale Price: $550,000
- 1537 Sarria Avenue | 3 bedroom, 2 bath | List Price: $447,000 | Sale Price: $437,000
- 440 Blue Road | 3 bedroom, 1 bath | List Price: $319,900 | Sale Price: $310,000
- 227 Jefferson Drive | 3 bedroom, 2 bath | List Price: $189,915 | Sale Price: $180,000
Of the above properties only the home located on Blue Road was a foreclosure. We seem to have experienced a slow down in distressed properties coming on the market in the Gables.
