Archive for February, 2011

Recent Sales in Coral Gables: Two Homes on Stately Boulevards Sell Below $200/sf

posted on February 25th, 2011 filed under: Properties in Focus

Two homes recently sold for less than $200 per square foot on a couple of the grand old boulevards of Coral Gables.

The 5,145-sf home at 1710 Granada Boulevard sold for $960,000, or $186.59/sf.

1710 Granada Blvd.

1710 Granada Blvd.

The 3,286-sf home at 1125 Coral Way reportedly sold for $620,000, or $188.68/sf.  This one was REO (bank-owned).

1125 Coral Way

1125 Coral Way

Sure these are busy streets, but they’re also stately and historic, lined with old trees and subject to zoning regulations that ensure generous setbacks and lot sizes.

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Months’ Supply of Homes for Sale Rises in Coral Gables

posted on February 14th, 2011 filed under: Real Estate Market Data

The months’ supply of homes for sale has risen in the Coral Gables real estate market.  This is not because a lot of new listings have come on the market.  In fact, the number of homes for sale has continued to recede.  The problem is that demand has been slack.

Months Supply of Homes for Sale -- Coral Gables Real Estate -- Feb. 2011The key months’ supply figure has risen in every price range since last check in November 2010.  Most significant, the supply of Coral Gables homes has risen sharply across the middle of the pricing spectrum:

  • from 6.8 months to 10.7 months in the $250k to $500k range;
  • from 8.8 months to 22.3 months in the $500k to $750k range; and
  • from 10.9 months to 14.4 months in the $750k to $1.5M range.

Demand remains strong for homes under $250k, of which there are few in Coral Gables.  The luxury segment above $1.5 million remains mired in an epic stalemate, as sellers would apparently rather die of old age in their overpriced properties than reduce prices to the point at which the market would clear.

Months Supply of Homes for Sale -- Coral Gables -- Feb. 2011 (Chart, Graph)

Data are from the MLS and are based on a comparison of current active listings to January closed sales, for single-family homes only.

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Giant Pink Snails Invade Coral Gables

posted on February 11th, 2011 filed under: Miami and Coral Gables Living

Giant pink snails descended on Miami Beach during Art Basel.  Hooligans apparently made life uncomfortable for the gastropods, so they migrated west to the more subdued environs of Coral Gables.

Here’s one outside the new Coral Gables Museum:

Coral Gables Real Estate Photos -- Pink Snails

The sculptures are made of recycled plastic, and are the work of the Italian collaborative Cracking Art Group.

Check out the snails’ original home in Milano.

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Q3 and Q4 Review: Closed Sales in Miami and Coral Gables Real Estate, Zip Code 33143

posted on February 5th, 2011 filed under: Real Estate Market Data

The table below reports closed sales of single-family homes in zip code 33143, encompassing parts of Miami and Coral Gables, Florida.  Recent closed sales are the principal guide to current property values in a local real estate market.

Miami and Coral Gables Real Estate -- Closed Sales -- Single-Family Homes -- Zip Code 33143 -- 3Q10 and 4Q10Because The Real Estate Fountain focuses on mid-range to luxury properties, the table excludes sales of smaller homes on smaller lots.

8325 Ponce de Leon Rd.

8325 Ponce de Leon Rd.

Data are from public records, and thus are not limited to MLS transactions.

Miami Real Estate Photos -- 4795 SW 78 St.

4795 SW 78 St.

Data are believed accurate but not warranted.

611 Tiziano St.

611 Tiziano St.

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