Covid-19 was the Stimulus for Record-Breaking Sales in Miami Posted on September 19, 2020 by Michael Light Earlier this year, the virus/pandemic/lockdown (most people interchange any of these words) caused many to consider the Miami Beach real estate market on its way to crashing and burning. Everywhere I looked, headlines were written to induce visions of post-2008, plummeting values, end-of-the-world type catastrophic hyperbole that almost seemed like a self-fulfilling prophecy…many almost rooting for this. I’ve had calls and emails with many clients both locally and globally that asked how bad things would get and how much real estate value they would lose. I even have one client who sends me YouTube videos of so-called “experts” predicting real estate values crashing. I will tell those of you reading this the same thing I told them…you CANNOT look at things, especially real estate, on such a “macro” level – the overall real estate market in the U.S. or Florida or even Miami-Dade County has no bearing on your small pocket/neighborhood/community/street or building! You must think locally! If you ask a real estate agent “how is the real estate market” and they begin answering that question, as asked, take caution! No one can possibly answer such a broad question like that without understanding what neighborhood…what price point…what criteria…sales velocity/absorption rate/months of supply…houses or condos? Asking such a broad question will never get you an accurate answer. Furthermore, if you own a $10M waterfront home in Miami Beach, do you really care how the $500k condo market in Brickell is affecting the “real estate market?” Do you see what I mean when I say you cannot focus on the “macro” or overall view, but you must think local? If we look at $10M+ inventory, most people would not believe that the last 6 months may have been the most active, record-setting time period in the history of Miami real estate…and this includes the dreaded pandemic! Star Island in Miami Beach: There are only 28 homes on Star Island in Miami Beach plus 6 vacant lots. If you look back at the sales history of homes on the island, only 1 sale occurs every couple of years. Would you be surprised, if not amazed, that 4 homes have sold, 3 land sales closed PLUS 1 more home is currently pending contract on Star Island within the last 4 months? 22 Star Island – Sold for $49.5M July 2020 (Robert Kraft, owner of the New England Patriots, rumored to be the buyer) 11 & 12 Star Island – Sold for $37M August 2020 (THIS WAS A LAND SALE – 80,000 sq/ft lot – purchased by billionaire hedge fund manager Ken Griffin) 13 Star Island – Sold for $32.5M August 2020 (A-Rod and J-Lo rumored to be the buyers) 14 Star Island – Sold for $24M August 2020 29 Star Island – Sold for $20.1M September 2020 34 Star Island – Sold for $12M July 2020 (Land Sale – 40,000 sq/ft lot) 44 Star Island – Sold for $10M May 2020 (Land Sale – 48,266 sq/ft lot) 46 Star Island – Under Contract (Was Asking $39.95M) Gables Estates in Coral Gables: There are 192 homes, most are waterfront, within Gables Estates in Coral Gables. Known as the most exclusive gated community in Coral Gables, Gables Estates has only seen 9 closed sales over $10M during the past 5 years…but, during this supposed “collapsing” market, there have been 8 sales in the past 5 months alone! 620 Arvida Parkway – Sold for $49M April 2020 21 Casuarina Concourse – Sold for $37.5M June 2020 700 Casuarina Concourse – Sold for $30M April 2020 (Pharrell rumored to be the buyer) 90 Leucadendra Drive – Sold for $22M July 2020 115 Arvida Parkway – Sold for $20M August 2020 340 Leucadendra Drive – Sold for $12.25M July 2020 (Partially Completed Home – Under Construction) 150 Arvida Parkway – Under Contract (Was Asking $48M) 500 Arvida Parkway – Under Contract (Was Asking $21.9M) In addition to the two exclusive communities above, below is a list of additional, notable $10M+ closed sales over the past 6 months: 1510 W 25th Street – Sold for $24.5M August 2020 (Sunset Islands in Miami Beach) 252 Bal Bay Drive – Sold for $23.25M July 2020 (Bal Harbour) 19 Palm Avenue – Sold for $20.5M August 2020 (Palm Island in Miami Beach) 15 Palm Avenue – Sold for $19.75M August 2020 (Palm Island in Miami Beach) 38 Indian Creek Island Road – Sold for $17.028M April 2020 (Indian Creek Island) 23 Tahiti Beach Island Road – Sold for $16M April 2020 (Tahiti Beach in Coral Gables) 1635 W 22nd Street – Sold for $15M August 2020 (Sunset Islands in Miami Beach) 5050 North Bay Road – Sold for $14.2M February 2020 (North Bay Road in Miami Beach) 941 N Venetian Drive – Sold for $13.6M September 2020 (Venetian Islands in Miami Beach) 1525 N View Drive – Sold for $12.002M June 2020 (Sunset Islands in Miami Beach) 5212 North Bay Road – Sold for $11.1M August 2020 (Teardown for Land Value – North Bay Road in Miami Beach) 70 Palm Avenue – Sold for $10.85M July 2020 (Needs a Massive Facelift – Palm Island in Miami Beach) 4420 North Bay Road – Sold for $10.8M August 2020 (North Bay Road in Miami Beach) 445 + 441 E Rivo Alto Drive – Under Contract (Was Asking $19.9M on the Venetian Islands in Miami Beach) 6650 Allison Road – Under Contract (Was Asking $15.9M on Allison Island in Miami Beach) 460 N Mashta Drive – Under Contract (Was Asking $15.5M on Mashta Island in Key Biscayne) 555 Reinante Avenue – Under Contract (Was Asking $15.495M in Old Cutler Bay in Coral Gables) 35 E Dilido Drive – Under Contract (Was Asking $14.85M on the Venetian Islands in Miami Beach) 436 W Rivo Alto Drive – Under Contract (Was Asking $14.75M on the Venetian Islands in Miami Beach) 709 E Dilido Drive – Under Contract (Was Asking $10.9M on the Venetian Islands in Miami Beach) The sales above in the Miami & Miami Beach area do not just show that the market is active, they show that the appetite for luxury single-family homes is the highest it has ever been AND that we are in a Seller’s Market at this price point! If you are from New York, New Jersey, Chicago, California (places most of the buyers are coming from while “escaping” Covid-19 in their cities), you have to understand that though the real estate market where you are coming from might be “down” at this price point, it does not mean that our market is following suit. If you, or someone you know, would like to buy or sell real estate in Miami, please contact me, Michael Light, Founder/Owner of the Light Group at Douglas Elliman Real Estate. You may reach me directly at my office at 305-350-9842, on my cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.
JUST REDUCED $500k | Coral Gables Estate on 28,000-SF Lot Now Offered at $3.499M Posted on September 2, 2019May 31, 2020 by Michael Light 5455 Kerwood Terrace has just received a massive $500,000 price reduction and is now aggressively priced to sell quickly…currently offered under $500 per sq/ft at $3,499,000! 5455 Kerwood Terrace is a remodeled Coral Gables estate situated on nearly 30,000 square feet of lusciously-landscaped land, tucked away on a cul-de-sac in one of the most sought-after communities in all of South Florida, offering luxury living and ultimate privacy. This lovely home offers 7,256 square feet of interior space featuring an abundance of natural light, 10-foot and vaulted ceilings, restored American walnut flooring, impact-resistant windows/doors and 8-foot solid oak interior doors throughout. The home offers 6 spacious bedrooms with en suite bathrooms, including a full staff quarter and a grand master suite situated in its own private wing of the home boasting a seating area, 2 large walk-in closets and 600 square feet of private terrace space overlooking the pool and garden. The home also features a great room with 24-foot ceilings, formal dining room, informal dining room, family room and a gourmet kitchen with 2 sky lights, chef’s island, marble countertops, 2 full-size refrigerators, built-in 100-bottle wine refrigerator and a Thermador Professional 6-burner gas cooktop with a French grill. 5455 Kerwood is truly an entertainer’s dream home as it offers a seamless flow from the luxury interiors through beautiful French doors, from both the great room and the family room, to the expansive outdoor entertainment area, which includes a 700-square-foot covered terrace with dining and lounge areas and a pool deck with brand-new cultured marble flooring. The outdoor amenities also include a dual-sided waterfall wall that flows into the 65-foot lap pool with 2 lanes, a cabana bathroom and a vast garden area lined with Royal Palms that is perfect for a formal exclusive event. 5455 Kerwood is ideally located off of the stunning tree-lined streets of Banyan Drive and historic Old Cutler Road, in Coral Gables’ newly-approved gated community of Banyan Lakes, adjacent to Hammock Lakes and Matheson Hammock Park. This extraordinary home is also located near Fairchild Tropical Garden and some of the top schools in South Florida and a variety of restaurants and shopping. https://youtu.be/3QxDy6HBFbM 5455 Kerwood Terrace Features and Amenities Below, please find an overview of the features that this beautiful property offers. For a full list of features and amenities, please download our 5455 Kerwood Terrace, Coral Gables – Residence Features, which has all of the information about the property. Ideally located in Coral Gables’ Newly-Approved Gated Community ‘Banyan Lakes’ with Private Security, near Matheson Hammock Park, Fairchild Tropical Garden and Miami’s Top Schools Remodeled 2-Story Home with 10-Foot and Vaulted Ceilings Home Square Footage: Living: 7,256 Square Feet / 674 Square Meters; Actual Area: 8,051 Square Feet / 748 Square Meters Lot Size: 27,878 Square Feet / 2,590 Square Meters 6 Spacious Bedrooms with En Suite Bathrooms, Including Full Staff Quarter Additional Bathrooms: 1 Full Bathroom + 1 Powder Room + 1 Cabana Bathroom Brand-New Metal Roof Exterior Completely Re-Painted Restored American Walnut Flooring Throughout Hurricane-Impact Windows and Doors Throughout with Oak Casement Gourmet Kitchen with Chef’s Marble Island, Thermador Professional Gas Cooktop with French Grill, 2 Full-Size Refrigerators and 100-Bottle Wine Refrigerator Great Room with 24-Foot Ceiling Formal and Informal Dining Rooms Master Suite with Seating Area and Private 600-Square-Foot Terrace Parking: 2-Car Attached Garage + Additional Driveway Parking for 6 Cars 65-Foot Lap Pool with Beautiful Waterfall Feature Lush Tropical Landscaping 700-Square-Foot Covered Dining Terrace with Ceiling Fans Vast Garden Area Lined with Royal Palms, Perfect for Formal Events 5455 Kerwood Terrace Sundeck with Lap Pool 5455 Kerwood Terrace Outdoor Covered Patio Overlooking Lap Pool 5455 Kerwood Terrace Great Room 5455 Kerwood Terrace Great Room 5455 Kerwood Terrace Dining Room 5455 Kerwood Terrace Kitchen 5455 Kerwood Terrace Kitchen 5455 Kerwood Terrace Breakfast Room 5455 Kerwood Terrace Living Room 5455 Kerwood Terrace Living Room 5455 Kerwood Terrace Master Bedroom 5455 Kerwood Terrace Master Bedroom Private Terrace Aerial View of 5455 Kerwood Terrace, Coral Gables, Florida 5455 Kerwood Terrace at Sunset 5455 Kerwood Terrace Lap Pool at Sunset If you are interested in a private viewing of 5455 Kerwood Terrace in Coral Gables, please contact listing broker, Michael Light, Senior Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Coral Gables Estate on 28,000-SF Lot in Banyan Lakes Offered at $3.995M $3.395M Posted on June 6, 2019May 31, 2020 by Michael Light Michael and Jaimee Light of the Miami Luxury Homes Group at Douglas Elliman are pleased to announce their newest luxury listing 5455 Kerwood Terrace, which is ideally situated in Coral Gables’ newest-approved gated community, Banyan Lakes, adjacent to Hammock Lakes and Matheson Hammock Park. 5455 Kerwood Terrace is a beautiful remodeled home with an attached 2-car garage situated on nearly 30,000 square feet of lusciously-landscaped land, tucked away on a cul-de-sac in one of the most sought-after communities in all of South Florida, offering luxury living and ultimate privacy. https://youtu.be/3QxDy6HBFbM This lovely home offers 7,256 square feet of interior space featuring an abundance of natural light, 10-foot and vaulted ceilings, restored walnut flooring, impact-resistant windows/doors and 8-foot solid oak interior doors throughout. The home offers 6 spacious bedrooms with en suite bathrooms, including a full staff quarter and a grand master suite situated in its own private wing of the home boasting a seating area, 2 large walk-in closets and 600 square feet of private terrace space overlooking the pool and garden. The home also features a great room with 24-foot ceilings, formal dining room, informal dining room, family room and a gourmet kitchen with 2 sky lights, chef’s island, marble countertops, 2 full-size refrigerators, built-in ice machine, built-in 100-bottle wine refrigerator and a Thermador Professional 6-burner gas cooktop with a French grill. 5455 Kerwood is truly an entertainer’s dream home as it offers a seamless flow from the luxury interiors through beautiful French doors, from both the great room and the family room, to the expansive outdoor entertainment area, which includes a 700-square-foot covered terrace with dining and lounge areas and a pool deck with brand-new cultured marble. The outdoor amenities also include a dual-sided waterfall wall that flows into the 65-foot lap pool with 2 lanes, a cabana bathroom and a vast garden area lined with Royal Palms that is perfect for a formal exclusive event. 5455 Kerwood is ideally located off of the stunning tree-lined streets of Banyan Drive and historic Old Cutler Road, in Coral Gables’ newly-approved gated community of Banyan Lakes, adjacent to Hammock Lakes. This extraordinary home is also located near Matheson Hammock Park, Fairchild Tropical Garden, some of the top schools in South Florida and a variety of restaurants and shopping. 5455 Kerwood Terrace Sundeck with Lap Pool 5455 Kerwood Terrace Outdoor Covered Patio Overlooking Lap Pool 5455 Kerwood Terrace Features and Amenities Below, please find an overview of the features that this beautiful property offers. For a full list of features and amenities, please download our 5455 Kerwood Terrace Features Brochure, which has all of the information about the property. Ideally located in Coral Gables’ Newly-Approved Gated Community ‘Banyan Lakes’ with Private Security, near Matheson Hammock Park, Fairchild Tropical Garden and Miami’s Top Schools Remodeled 2-Story Home with 10-Foot and Vaulted Ceilings Home Square Footage: Living: 7,256 Square Feet / 674 Square Meters; Actual Area: 8,051 Square Feet / 748 Square Meters Lot Size: 27,878 Square Feet / 2,590 Square Meters 6 Spacious Bedrooms with En Suite Bathrooms, Including Full Staff Quarter Additional Bathrooms: 1 Full Bathroom + 1 Powder Room + 1 Cabana Bathroom Brand-New Metal Roof Exterior Completely Re-Painted Restored Walnut Flooring Throughout Hurricane-Impact Windows and Doors Throughout with Oak Casement Gourmet Kitchen with Chef’s Marble Island, Thermador Professional Gas Cooktop with French Grill, 2 Full-Size Refrigerators and 100-Bottle Wine Refrigerator Great Room with 24-Foot Ceiling Formal and Informal Dining Rooms Master Suite with Seating Area and Private 600-Square-Foot Terrace Parking: 2-Car Attached Garage + Additional Driveway Parking for 6 Cars 65-Foot Lap Pool with Beautiful Waterfall Feature Lush Tropical Landscaping 700-Square-Foot Covered Dining Terrace with Ceiling Fans Vast Garden Area Lined with Royal Palms, Perfect for Formal Events 5455 Kerwood Terrace Great Room 5455 Kerwood Terrace Great Room 5455 Kerwood Terrace Dining Room 5455 Kerwood Terrace Kitchen 5455 Kerwood Terrace Kitchen 5455 Kerwood Terrace Breakfast Room 5455 Kerwood Terrace Living Room 5455 Kerwood Terrace Living Room 5455 Kerwood Terrace Master Bedroom 5455 Kerwood Terrace Master Bedroom Private Terrace Aerial View of 5455 Kerwood Terrace, Coral Gables, Florida 5455 Kerwood Terrace at Sunset 5455 Kerwood Terrace Lap Pool at Sunset If you are interested in a private viewing of 5455 Kerwood Terrace in Coral Gables, please contact listing broker, Michael Light, Senior Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Banyan Lakes | The Newest Gated Community in Coral Gables Posted on May 27, 2019 by Michael Light Say goodbye to Kerwood Oaks or Banyan Drive Neighborhood, two of the names used for years to describe the un-gated community to the west of Hammock Lakes. The City of Coral Gables has approved a measure to make this a privately-gated community and also name it ‘Banyan Lakes.’ The new guard-gated entrance, which will be on Banyan Drive right off of 88th Street, is currently in the design stage. For years, this neighborhood has been included in thought with the popular gated communities along Old Cutler Road, even though it has never been privately gated. Some call it Kerwood Oaks, others Hammock Lakes II (which is actually a completely different community directly to the east). Well, Banyan Lakes in Coral Gables will finally become a privately-gated community and carry the name recognition, cache and value of the other popular gated communities along Old Cutler Road. Once completed, Banyan Lakes will be a privately-gated community of 46 homes in Coral Gables. I would even be willing to speculate that any owner of a home in Banyan Lakes will see an immediate increase in value once the community becomes privately gated…time will tell. Coral Gables Gated Communities Snapper Creek Snapper Creek is a luxury community, located off the scenic and picturesque Old Cutler Road, in the southern section of Coral Gables, Florida. There are approximately 124 magnificent estate homes, all on at least one acre of land, and architecturally stunning in design, lavish in furnishings, and with incredible amenities, many with their own private docks. The community has a full-service marina, with a dock master, and direct access to Biscayne Bay. Journey’s End Journey’s End, an ultra-prestigious gated community situated adjacent to scenic Old Cutler Road in historic Coral Gables, is the ultimate dream neighborhood in South Florida. Journey’s End is the most exclusive community in all of Coral Gables, offering only 18 luxury homes in this waterfront enclave. Journey’s End features unparalleled architectural design, park-like lush landscaping, gorgeous water views and luxurious amenities nestled into a serene setting. Journey’s End also offers an exclusive marina, boat docks, no bridges to Biscayne Bay, private tennis courts and 24-hour security. Gables Estates Gables Estates, located off the scenic Old Cutler Road in the southern section of Coral Gables, is bordered by the shores of beautiful Biscayne Bay. This prestigious private, guard-gated community is made up of extravagant mansions and lavish homes, many with their own private docks, with amenities including basketball, softball, tennis and a children’s playground. Excellent public and private schools are in the nearby areas of Pinecrest and South Miami, and a short 15-minute drive takes you to the University of Miami. Old Cutler Bay Old Cutler Bay is located in the southern part of Coral Gables, on 150 acres of lush tropical vegetation, and on the edge of the crystal blue waters of Biscayne Bay. Old Cutler Bay is a secluded, gated community with architecturally designed mansions and estate homes on waterfront properties along tree-lined streets. Cocoplum Cocoplum is an exclusive, secluded, gated community in Coral Gables, consisting of waterfront properties and stunning mansions, many with their own private docks. The amenities at Cocoplum include 24-hour security, clubhouse, fitness center, tennis courts, swimming pool, children’s playground, a yacht club, and a full-service marina with dock master for boating enthusiasts. Tahiti Beach Tahiti Beach is a private and exclusive neighborhood of 26 stunning estate homes, on an island with its own sandy beach, within the beautiful community of Cocoplum in prestigious Coral Gables, Florida. The residents of Tahiti Beach have full access to the amenities of Cocoplum which include 24-hour security, a marina, clubhouse, and three tennis courts. Hammock Oaks & Lakes Hammock Oaks and Lakes are two luxury, gated communities in the southern section of Coral Gables located along the very scenic, tree-lined Old Cutler Road. Many of the 107 luxury homes are on the waterfront with direct access to Biscayne Bay and feature stunning views of sparkling blue waters and tropical vegetation.
Coral Gables – September 2018 Market Snapshot Posted on September 27, 2018 by Michael Light The Coral Gables September, 2018 Market Snapshot gives you up-to-date market statistics for real estate in Coral Gables including current properties listed for sale and closed sales in the last six (6) months. If you are considering selling your home or purchasing real estate in Coral Gables, it is important for you to be informed on the current state of the market with regards to price. So, I have compiled statistics from the MLS regarding the inventory of single-family homes that are currently listed for sale in Coral Gables. Below, you will find charts highlighting the percentage of homes that are currently on the market in certain price points and the average price per square foot of these homes currently listed for sale. After looking at what is currently on the market, most people ask, “what will these homes actually sell for?!” The best indicator of what a home may sell for in the current market is to look at the closed sales in the area over the last 6 months. This will give you a good indication of the “discount” that you may be able to expect if you plan to buy a home today. So, I have also included a graph showing all closed sales in Coral Gables over the past 6 months, broken down by price per square foot. Coral Gables Single-Family Homes Currently For Sale (as of 09/24/2018) Coral Gables Single-Family Homes Currently For Sale – Average Price Per Square Foot (as of 09/24/2018) Coral Gables Single-Family Homes Closed Sales – Last 6 Months – Average Price Per Square Foot (as of 09/24/2018) If you are interested in buying or selling a home in Coral Gables, or simply would like more information about the current state of the real estate market in Coral Gables, please contact Michael Light, Broker Associate and Senior Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at his office at (305) 350-9842, on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Note: The MLS data for the information contained herein was retrieved from the MLS on September 24, 2018.
Coral Gables – May 2018 Market Snapshot Posted on May 19, 2018 by Michael Light The Coral Gables May, 2018 Market Snapshot gives you up-to-date market statistics for real estate in Coral Gables including current properties listed for sale and closed sales in the last six (6) months. If you are considering selling your home or purchasing real estate in Coral Gables, it is important for you to be informed on the current state of the market with regards to price. So, I have compiled statistics from the MLS regarding the inventory of single-family homes that are currently listed for sale in Coral Gables. Below, you will find charts highlighting the percentage of homes that are currently on the market in certain price points and the average price per square foot of these homes currently listed for sale. After looking at what is currently on the market, most people ask, “what will these homes actually sell for?!” The best indicator of what a home may sell for in the current market is to look at the closed sales in the area over the last 6 months. This will give you a good indication of the “discount” that you may be able to expect if you plan to buy a home today. So, I have also included a graph showing all closed sales in Coral Gables over the past 6 months, broken down by price per square foot. Coral Gables Single-Family Homes Currently For Sale (as of 05/14/2018) Coral Gables Single-Family Homes Currently For Sale – Average Price Per Square Foot (as of 05/14/2018) Coral Gables Single-Family Homes Closed Sales – Last 6 Months – Average Price Per Square Foot (as of 05/14/2018) If you are interested in buying or selling a home in Coral Gables, or simply would like more information about the current state of the real estate market in Coral Gables, please contact Michael Light, Broker Associate and Senior Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at his office at (305) 350-9842, on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Note: The MLS data for the information contained herein was retrieved from the MLS on May 14, 2018
Coral Gables – February, 2018 Market Snapshot Posted on February 16, 2018 by Michael Light The Coral Gables February, 2018 Market Snapshot gives you up-to-date market statistics for real estate in Coral Gables including current properties listed for sale and closed sales in the last six (6) months. If you are considering selling your home or purchasing real estate in Coral Gables, it is important for you to be informed on the current state of the market with regards to price. So, I have compiled statistics from the MLS regarding the inventory of single-family homes that are currently listed for sale in Coral Gables. Below, you will find charts highlighting the percentage of homes that are currently on the market in certain price points and the average price per square foot of these homes currently listed for sale. After looking at what is currently on the market, most people ask, “what will these homes actually sell for?!” The best indicator of what a home may sell for in the current market is to look at the closed sales in the area over the last 6 months. This will give you a good indication of the “discount” that you may be able to expect if you plan to buy a home today. So, I have also included a graph showing all closed sales in Coral Gables over the past 6 months, broken down by price per square foot. Coral Gables Single-Family Homes Currently For Sale (as of 02/15/18) Coral Gables Single-Family Homes Currently For Sale – Average Price Per Square Foot (as of 02/15/18) Coral Gables Single-Family Homes Closed Sales – Last 6 Months – Average Price Per Square Foot (as of 02/15/18) If you are interested in buying or selling a home in Coral Gables, or simply would like more information about the current state of the real estate market in Coral Gables, please contact Michael Light, Broker Associate and Senior Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at his office at (305) 350-9842, on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Note: The MLS data for the information contained herein was retrieved from the MLS on February 15, 2018
Coral Gables – December, 2017 Market Snapshot Posted on December 29, 2017December 30, 2017 by Michael Light The Coral Gables December, 2017 Market Snapshot gives you up-to-date market statistics for real estate in Coral Gables including current properties listed for sale and closed sales in the last six (6) months. If you are considering selling your home or purchasing real estate in Coral Gables, it is important for you to be informed on the current state of the market with regards to price. So, I have compiled statistics from the MLS regarding the inventory of single-family homes that are currently listed for sale in Coral Gables. Below, you will find charts highlighting the percentage of homes that are currently on the market in certain price points and the average price per square foot of these homes currently listed for sale. After looking at what is currently on the market, most people ask, “what will these homes actually sell for?!” The best indicator of what a home may sell for in the current market is to look at the closed sales in the area over the last 6 months. This will give you a good indication of the “discount” that you may be able to expect if you plan to buy a home today. So, I have also included a graph showing all closed sales in Coral Gables over the past 6 months, broken down by price per square foot. Coral Gables Single-Family Homes Currently For Sale (as of 12/20/2017) Coral Gables Single-Family Homes Currently For Sale – Average Price Per Square Foot (as of 12/20/2017) Coral Gables Single-Family Homes Closed Sales – Last 6 Months – Average Price Per Square Foot (as of 12/20/2017) If you are interested in buying or selling a home in Coral Gables, or simply would like more information about the current state of the real estate market in Coral Gables, please contact Michael Light, Senior Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at his office at (305) 350-9842, on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Note: The MLS data for the information contained herein was retrieved from the MLS on December 20, 2017.