Tuesday, April 15, 2014

Five Most Recent Coral Gables Real Estate Sales

Home sales in Coral Gables are moving right along at a nice clip.  Compared to this time last year, Coral Gables home values have increased about 12 percent.  This is very welcome considering that several years prior to this were not the best in the real estate business.  Over the last 30 days, over 80 properties have sold with the average sale price over $700,000.  To show the activity, following are the top five most recent Coral Gables real estate sales:

439 Majorca Avenue, Coral Groves, Sale Price:  $770,000
Talk about Old Florida!  This home, built in the 1920s, has that old Spanish-style architecture that brings a ton of character and charm to the neighborhood.  It is located in the heart of the Gables in Coral Groves which is  close to everything.  While it has been updated, it still holds the unique attributes that are only found in the older homes in this part of Coral Gables.  Sale prices in this part of Coral Gables vary greatly depending on their proximity to the Miracle Mile and the top area golf courses as well as the current shape of the home as many of the properties are in need of some TLC. 

2315 Granada Boulevard, Sale Price:  $757,500
This is a wonderful and classic Spanish-style home on well-sought after Granada Blvd. Built in the 1930s, it is another home that is situated in a prime location close to the Coral Gables Country Club and area parks as well as being surrounded by the neighborhoods of Granada, Coral Groves and Coral Estates.  Along with three bedrooms and three baths, there is an addition maid’s room or in-laws suite off the kitchen.  There are so many unique characteristics about this house that it is no wonder it went under contract in only three months.   The range of list prices for homes close to this one is broad from the upper-$400s to over $1.6 million.  Over the last six months the range of sale prices fell between the low-$200s to over $1 million. 

4920 Suarez Street, Sale Price:  $895,000
Here is another recent sale in a superb location at the corner of Rivera Drive and Suarez Street.  Built in the 1950s, this recently updated home features five bedrooms and three baths, beautiful hardwood floors and a great gourmet kitchen.  It offers everything that a family needs and wants including a beautiful backyard with patio area and swimming pool not to mention being close to top schools, shopping and excellent golf courses.  Nearby homes have sold for anywhere between the mid-$700s to well over $1 million while current listings start in the mid-$600s. 

60 Edgewater Drive, # PH1A, Gables Club, $3,737,500
A penthouse at the Gables Club – what else can we say?  This is a spectacular penthouse residence with the most amazing bay views.  It also has everything that one can think of having in their home including a gourmet kitchen, to-die for living areas and amenities that rival any five-star hotel in the world.  This listing went under contract within four and a half months of listing so while it is on the higher end of the sale prices, there is definitely a desire for property of this caliber.  Currently there are eight listings at the Gables Club that fall between about $1.3 million and $4.2 million.  Other recent closings (past six months) showed that sale prices were between about $2 million and almost $5 million. 

626 Coral Way, #704, Gables on the Green, $960,000
Another fabulous Coral Gables condominium is Gables on the Green.  With this ideal location close to just about everything in the Gables and its gorgeous panoramic views of Coral Gables, it is no wonder that it went under contract within two months of being listed.  The residence has so many features that make it a showplace including a recently remodeled master bath, a glorious wide open kitchen, marble floors, and more.  The one-touch electric shutters are a nice benefit as well.  And as for the building amenities, there is nothing like 24-hour security and concierge, private elevator and foyer entry reserved covered parking, extra storage and other great extras.  Currently at Gables on the Green, there are no units listed for sale.  This is a popular place and when one is listed for sale, it is usually gobbled up at the snap of a finger. 

Coral Gables Real Estate is on the Move
In terms of the overall market, Coral Gables real estate is on the move with a continued upward trend.  There are still several properties that are bargains but if you are interested in buying in Coral Gables, now is the time.  It is exciting to see what is happening here and with so much to offer, it is no wonder that so many people are seeking to live in this part of South Florida.

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