We all know that the market has gone up in the past year. On average, homes in Coral Gables have increased from $374.00/square foot in 2014 to $398.00/square foot in 2015 (an increase of 6%). Sometimes it is easier to see an actual example of specific properties increasing in value. Today I am showing you two different properties that sold twice within 12 months. They both garnered a significantly better price the second time around, with no major improvements or renovations to the properties being made.
924 Aduana Avenue, Coral Gables
- Sold in 2014 for $1,570,000 | Sold in 2015 for $1,750,000
- Increase in value of 11%
- 4 Bedrooms, 3 Baths
- 4,188 Square Feet Of Living Area
- 15,378 Square Foot Lot
- Agent: Francisco Paz of Paz Realty
3226 Riviera Drive, Coral Gables (Land Value)
- Lot sold in 2014 for $750,000 | Lot sold in 2015 for $1,000,000
- Increase in value of 33%
- 15,000 square foot lot
- Agent: Issam Shalhoub of Avanti Way
Of course I can’t guarantee that every home has increased in value over the past year. We are seeing values increase by varying amounts depending on the type of home you have and its location. If you are interested in learning more about the value of your home in today’s changing market, please feel free to contact us. We would be happy to provide you with a no pressure home valuation and share with you the most recent comparables.
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.