Thursday Throwdown: Battle of the Islands…Hibiscus & Palm vs. Venetian Islands in Miami Beach Posted on August 17, 2017 by Michael Light Miami Beach offers a variety of exclusive islands that house some of the most gorgeous single-family homes and mega mansions in South Florida. A few of the most popular islands include Hibiscus, Palm and the Venetian Islands. Both Hibiscus Island and Palm Island are separate, private man-made islands in the crystal blue waters of Biscayne Bay, accessible only via the MacArthur Causeway and part of the City of Miami Beach. Both Islands offer exquisite multi-million-dollar homes with stunning architectural designs ranging from Mediterranean to the famed Art Deco to modern, and most have private docks for a true relaxing South Florida lifestyle. The Venetian Islands are a chain of 6 man-made islands in Biscayne Bay connected by bridges on the Venetian Causeway, which are part of both the cities of Miami and Miami Beach-depending on the island. The 6 beautiful islands that make up the Venetian Islands are Biscayne Island (Miami), San Marco Island (Miami), San Marino Island (Miami Beach), Di Lido Island (Miami Beach), Rivo Alto Island (Miami Beach), and Belle Isle (Miami Beach). 1374 S. Venetian Way is an amazing property on San Marco Island that epitomizes island living. Here is a video of the home: Available Waterfront Single-Family Home Inventory At this time, there are 27 waterfront single-family homes listed for sale on the Venetian Islands with an average list price of $10,052,370 and an average list price per square foot of $1,844.65. On Palm and Hibiscus Islands combined, there are 28 waterfront single-family homes for sale with an average list price of $12,734,250 and an average price per square foot of $1,777.07. Venetian Islands Waterfront Single-Family Home Inventory Total Waterfront Homes Available: 27 Average List Price: $10,052,370 Average List Price Per Square Foot: $1,844.65 Palm & Hibiscus Islands Waterfront Single-Family Home Inventory Total Waterfront Homes Available: 28 Average List Price: $12,734,250 Average List Price Per Square Foot: $1,777.07 Available Non-Waterfront Single-Family Home Inventory Currently, there are only 15 non-waterfront single-family homes listed for sale on the Venetian Islands with an average list price of $2,469,067 and an average list price per square foot of $863.55. Coincidentally, there are also 15 non-waterfront single-family homes currently for sale on Palm and Hibiscus Islands combined with an average list price of $3,371,700 and an average price per square foot of $836.95. Venetian Islands Non-Waterfront Single-Family Home Inventory Total Non-Waterfront Homes Available: 15 Average List Price: $2,469,067 Average List Price Per Square Foot: $863.55 Palm & Hibiscus Islands Non-Waterfront Single-Family Home Inventory Total Non-Waterfront Homes Available: 15 Average List Price: $3,371,700 Average List Price Per Square Foot: $836.95 Single-Family Waterfront Homes Closed in the Last 6 Months In the last 6 months, 8 waterfront single-family homes have sold on the Venetian Islands with an average sales price of $5,224,375 and an average price per square foot of $1,540.29. Together Hibiscus and Palm Islands have seen only 2 sales of waterfront single-family homes in the last 6 months with an average sales price of $5,812,500 and an average price per square foot of $1,201.58. Venetian Islands Waterfront Single-Family Homes Closed in Last 6 Months Total Waterfront Homes Closed in Last 6 Months: 8 Average Sales Price: $5,224,375 Average Sales Price Per Square Foot: $1,540.29 Palm & Hibiscus Islands Waterfront Single-Family Homes Closed in Last 6 Months Total Waterfront Homes Closed in Last 6 Months: 2 Average Sales Price: $5,812,500 Average Sales Price Per Square Foot: $1,201.58 Single-Family Non-Waterfront Homes Closed in the Last 6 Months In the last 6 months, 5 non-waterfront single-family homes have sold on the Venetian Islands with an average sales price of $1,832,000 and an average price per square foot of $670.46. Together Hibiscus and Palm Islands have seen only 1 sale of non-waterfront single-family homes in the last 6 months, which sold for $1,200,000, which was $500.42 per square foot. Venetian Islands Non-Waterfront Single-Family Homes Closed in Last 6 Months Total Non-Waterfront Homes Closed in Last 6 Months: 5 Average Sales Price: $1,832,000 Average Sales Price Per Square Foot: $670.46 Palm & Hibiscus Islands Non-Waterfront Single-Family Homes Closed in Last 6 Months Total Non-Waterfront Homes Closed in Last 6 Months: 1 Average Sales Price: $1,200,000 Average Sales Price Per Square Foot: $500.42 Hibiscus/Palm & Venetian Islands Single-Family Home Months of Inventory Waterfront Single-Family Homes Venetian Islands: 20 Months of available inventory Palm & Hibiscus Islands: 84 Months of available inventory Non-Waterfront Single-Family Homes Venetian Islands: 18 Months of available inventory Palm & Hibiscus Islands: 90 Months of available inventory Interested in the South Florida Real Estate Market??? If you, or someone you know, would like more information about luxury homes on any of the exclusive islands of Miami Beach, please contact Michael Light, Broker Associate and Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at his office at (305) 350-9842, on his cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Note: The information contained herein was retrieved from the Multiple Listing Service (MLS) on August 17, 2017, and is intended for informative purposes only and, thus, should not be relied upon.
Thursday Throwdown: Coral Gables vs. Pinecrest Single-Family Homes Posted on August 10, 2017 by Michael Light Coral Gables and Pinecrest are two highly-sought-after, family-friendly cities that both offer beautiful single-family homes, excellent schools, plenty of shopping and a true variety of restaurants. Despite many differences, Coral Gables and Pinecrest share many similar attributes, which is why a lot of families moving to South Florida compare these 2 cities when deciding where to call home. So, let’s look at the numbers to compare how the single-family home market in Coral Gables currently compares to the single-family home market in Pinecrest…numbers don’t lie. Available Waterfront Single-Family Home Inventory At this time, Coral Gables has 72 waterfront single-family homes listed for sale with an average list price of $6,939,114 and an average list price per square foot of $953.55. In Pinecrest, there are presently 12 waterfront single-family homes for sale (canal/lagoon) with an average list price of $1,385,219 and an average price per square foot of $365.66. Coral Gables Waterfront Single-Family Home Inventory Total Waterfront Homes Available: 72 Average List Price: $6,939,114 Average List Price Per Square Foot: $953.55 Pinecrest Waterfront Single-Family Home Inventory (canal/lagoon) Total Waterfront Homes Available: 12 Average List Price: $1,385,219 Average List Price Per Square Foot: $365.66 Available Non-Waterfront Single-Family Home Inventory To date, Coral Gables has 288 non-waterfront single-family homes listed for sale with an average list price of $1,631,904 and an average list price per square foot of $458.94. In Pinecrest, there are currently 206 non-waterfront single-family homes for sale with an average list price of $2,328,442 and an average price per square foot of $410.89. Coral Gables Non-Waterfront Single-Family Home Inventory Total Non-Waterfront Homes Available: 288 Average List Price: $1,631,904 Average List Price Per Square Foot: $458.94 Pinecrest Non-Waterfront Single-Family Home Inventory Total Non-Waterfront Homes Available: 206 Average List Price: $2,328,442 Average List Price Per Square Foot: $410.89 Single-Family Waterfront Homes Closed in the Last 6 Months In the last 6 months, 24 waterfront single-family homes have sold in Coral Gables with an average sales price of $5,098,137 and an average price per square foot of $694.41. Pinecrest has seen only 6 sales of waterfront single-family homes in the last 6 months with an average sales price of $1,430,833 and an average price per square foot of $359.32. Coral Gables Waterfront Single-Family Homes Closed in Last 6 Months Total Waterfront Homes Closed in Last 6 Months: 24 Average Sales Price: $5,098,137 Average Sales Price Per Square Foot: $694.41 Pinecrest Waterfront Single-Family Homes Closed in Last 6 Months Total Waterfront Homes Closed in Last 6 Months: 6 Average Sales Price: $1,430,833 Average Sales Price Per Square Foot: $359.32 Single-Family Non-Waterfront Homes Closed in the Last 6 Months In the last 6 months, 281 non-waterfront single-family homes have sold in Coral Gables with an average sales price of $957,918 and an average price per square foot of $372.54. Pinecrest has seen 94 sales of non-waterfront single-family homes in the last 6 months with an average sales price of $1,380,451 and an average price per square foot of $319.79. Coral Gables Non-Waterfront Single-Family Homes Closed in Last 6 Months Total Non-Waterfront Homes Closed in Last 6 Months: 281 Average Sales Price: $957,918 Average Sales Price Per Square Foot: $372.54 Pinecrest Non-Waterfront Single-Family Homes Closed in Last 6 Months Total Non-Waterfront Homes Closed in Last 6 Months: 94 Average Sales Price: $1,380,451 Average Sales Price Per Square Foot: $319.79 Coral Gables & Pinecrest Single-Family Home Months of Inventory Coral Gables & Pinecrest Waterfront Single-Family Homes Coral Gables: 18 Months of available inventory Pinecrest: 12 Months of available inventory Coral Gables & Pinecrest Non-Waterfront Single-Family Homes Coral Gables: 6 Months of available inventory Pinecrest: 13 Months of available inventory Interested in the South Florida Real Estate Market??? If you, or someone you know, would like more information about the real estate markets in Coral Gables and/or Pinecrest, please contact Michael Light, Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at his office at (305) 350-9842, on his cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Note: The information contained herein was retrieved from the Multiple Listing Service (MLS) on August 9, 2017, and is intended for informative purposes only and, thus, should not be relied upon.
Thursday Throwdown: Miami Beach vs. Coconut Grove Single-Family Homes Posted on August 3, 2017August 17, 2017 by Michael Light Miami Beach and Coconut Grove are 2 of the most sought-after communities in South Florida, so how do they stack up against each other in today’s single-family home real estate market? Only a few miles apart and both offering breathtaking water views, these 2 neighborhoods are like night and day, but they both seem to be the place everyone wants to call home. And now, because of a long list of reasons, everyone is flocking from Miami Beach to Coconut Grove. And, why not…The Grove is approximately 13 feet above sea level, offers a fun laid-back friendly waterfront environment and offers lots of great restaurants, shopping, parks, marinas, entertainment and a lot of history! So where do you get more of a bang for your buck…let’s look at the numbers. Available Waterfront Single-Family Home Inventory Currently, Miami Beach has 187 waterfront single-family homes listed for sale with an average list price of $9,825,298 and an average list price per square foot of $1,490.04. In Coconut Grove, there are currently only 8 waterfront single-family homes for sale with an average list price of $13,291,125 and an average price per square foot of $1,557.72. Miami Beach Waterfront Single-Family Home Inventory Total Waterfront Homes Available: 187 Average List Price: $9,825,298 Average List Price Per Square Foot: $1,490.04 Coconut Grove Waterfront Single-Family Home Inventory Total Waterfront Homes Available: 8 Average List Price: $13,291,125 Average List Price Per Square Foot: $1,557.72 Available Non-Waterfront Single-Family Home Inventory Currently, Miami Beach has 225 non-waterfront single-family homes listed for sale with an average list price of $2,047,639 and an average list price per square foot of $654.70. In Coconut Grove, there are currently 103 non-waterfront single-family homes for sale with an average list price of $1,912,476 and an average price per square foot of $547.97. Miami Beach Non-Waterfront Single-Family Home Inventory Total Non-Waterfront Homes Available: 225 Average List Price: $2,047,639 Average List Price Per Square Foot: $654.70 Coconut Grove Non-Waterfront Single-Family Home Inventory Total Non-Waterfront Homes Available: 103 Average List Price: $1,912,476 Average List Price Per Square Foot: $547.97 Single-Family Waterfront Homes Closed in the Last 6 Months In the last 6 months, 45 waterfront single-family homes have sold in Miami Beach with an average sales price of $5,353,133 and an average price per square foot of $989.25. Coconut Grove has seen 3 sales of waterfront single-family homes in the last 6 months with an average sales price of $8,016,667 and an average price per square foot of $919.55. Miami Beach Waterfront Single-Family Homes Closed in Last 6 Months Total Waterfront Homes Closed in Last 6 Months: 45 Average Sales Price: $5,353,133 Average Sales Price Per Square Foot: $989.25 Coconut Grove Waterfront Single-Family Homes Closed in Last 6 Months Total Waterfront Homes Closed in Last 6 Months: 3 Average Sales Price: $8,016,667 Average Sales Price Per Square Foot: $919.55 Single-Family Non-Waterfront Homes Closed in the Last 6 Months In the last 6 months, 82 non-waterfront single-family homes have sold in Miami Beach with an average sales price of $1,416,142 and an average price per square foot of $502.94. Coconut Grove has seen 79 sales of non-waterfront single-family homes in the last 6 months with an average sales price of $1,312,553 and an average price per square foot of $438.88. Please note that I just recently set 2 records for the Coconut Grove real estate market…the first non-waterfront home to ever sell in the history of the Grove over $5M and the highest-priced-per-square-foot non-waterfront home to ever sell in Coconut Grove, at $818 per sq/ft. Miami Beach Non-Waterfront Single-Family Homes Closed in Last 6 Months Total Non-Waterfront Homes Closed in Last 6 Months: 82 Average Sales Price: $1,416,142 Average Sales Price Per Square Foot: $502.94 Coconut Grove Non-Waterfront Single-Family Homes Closed in Last 6 Months Total Non-Waterfront Homes Closed in Last 6 Months: 79 Average Sales Price: $1,312,553 Average Sales Price Per Square Foot: $438.88 Miami Beach & Coconut Grove Single-Family Home Months of Inventory Miami Beach & Coconut Grove Waterfront Single-Family Homes Miami Beach: 25 Months of available inventory Coconut Grove: 16 Months of available inventory Miami Beach & Coconut Grove Non-Waterfront Single-Family Homes Miami Beach: 17 Months of available inventory Coconut Grove: 8 Months of available inventory Interested in the South Florida Real Estate Market??? If you, or someone you know, would like more information about the real estate markets in Miami Beach and/or Coconut Grove, please contact Michael Light, Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at his office at (305) 350-9842, on his cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Note: The information contained herein was retrieved from the Multiple Listing Service (MLS) on August 3, 2017, and is intended for informative purposes only and, thus, should not be relied upon.