Coconut Grove, Coral Gables & South Miami Real Estate
Categories
Archive for the 'Condos & Townhomes' Category
2011 A Year in Review – Tri-City areas of Coconut Grove, Coral Gables and South Miami
2011 was a great year for the areas of Coconut Grove, Coral Gables and South Miami. Total gross sales were up significantly over the 2010 numbers with condos sales increasing 13.5% and single family home sales up 29.5% overall.
In most segments of the market, the inventory has been dropping steadily leading us towards a more stable market. The surprise though would be the over $1MM condos. Check it out below. There seems to be a few more for sale each month.
In the below graphs you will find the data regarding home sales, pended homes (under contract) and homes for sale on a month by month basis for all of 2011. I have segmented them by single family homes, condominiums and price range.
Single Family Homes up to $500,000.
Single Family Homes for over $1,000,000.
Condos from $500,000. to $1MM
Condos over $1,000,000.
If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.
Just Reduced – 2929 Center Street, Coconut Grove
I just reduced the price of my listing at 2929 Center Street in Coconut Grove to $380,000. What makes this townhome stand apart from the rest is the outdoor living area. There is approximately 1,500 sq ft of fenced, outdoor space with a gazebo, deck, garden and more than enough room to entertain you family and friends.
The interior is 2 bedroom, 2 bath plus den, impeccably maintained and beautifully tiled with an open, updated kitchen that leads to the sunken living room with garden views throughout the entire home.
The community is gated and has only has 6 units in total with a private pool exclusive to the residents. Each unit comes with 2 assigned parking spaces and visitor parking on premises. Spectacular location, just minutes from Downtown Miami, Coral Gables, South Miami and the Beaches.
If you are interested in seeing this home or any others in the Coconut Grove, Coral Gables, or South Miami areas. please give me a call at 305-987-2644 or send me a note here.
Summer 2011 Market Update for Tri-City Areas – Coconut Grove, Coral Gables and South Miami Real Estate
Well, the summer numbers are in and for the most part, sales in the tri-city areas of Coconut Grove, Coral Gables and South Miami are up over last year this time.
The inventory of homes is consistently dropping, which in turn, has created quite the demand. The recent conversations among realtors is that they have the buyers but they are having difficulty finding homes. The nice, well priced homes are few and far between. And when one comes on the market, it goes rather quickly.
The most significant change so far this year are the condos from $300,000. to $500,000. The sales are up 158.3% over last year this time. The contracts pending are up 68.2% and the inventory of condos for sale is down 65.4%. This is great news for all those condos that have been sitting on the market for literally years.
The below graphs provide 15 months of data regarding home sales, pended (under contract) and inventory of homes currently for sale. I have segmented them by single family homes, condominiums and price range.
Single Family Homes up to $500,000.
Sales – ↑ 22%
Pending contracts - ↓ 25.7%
Inventory – ↓ 39.3%
Single Family Homes from $500,000. to $1MM
Sales – ↑ 50% change
Pending contracts ↑ 33.3%
Inventory – ↓ 50.3%
Single Family Homes for over $1,000,000.
Condos for under $300,000. 
Sales – ↑158.3%
Pending contracts – ↑68.2%
Inventory – ↓65.4%
Condos from $500,000. to $1MM
Sales – ↑22.2%
Pending contracts – ↑90.9%
Inventory – ↓35%
Condos over $1,000,000.
Sales – ↓14.3%
Pending contracts – ↓28.6%
Inventory – ↓23.3%
If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.
Open House – 2929 Center St, Coconut Grove Sunday, Aug 14, 2011 – 1:00 to 3:00
Patience and Perseverence Pays Off for this Coral Gables Condo Owner
Recently, I was trying to find a needle in a haystack or otherwise known in the real estate world as a “good deal on a condo that will be financed”. Yes, there are good deals out there and yes there are condominiums that can be financed, the trick is finding the two at the same time.
The good news is that with lots of patience and perseverance, my client just closed on this lovely condo on Coral Gables’ Edgewater Drive and she couldn’t be happier.
Many lenders will not provide financing in certain condominium buildings because of the amount of past due maintenance fees and foreclosure rates. This eliminates these buyers from getting the “good deals”. Also, it is not easy to determine which condos do qualify. You would think there would be a list or somewhere to look that explains which buildings would qualify for financing. That would be too easy. My solution was to investigate every building prior to visiting or submitting offers. Alot of legwork on the front end, but well worth in the long run.
As usual, everything worked out for the best. She got exactly what she wanted, where she wanted it and within what she could afford.
In this current climate, real estate is a marathon, not a sprint. Look for an agent that does their homework, will be there for you and knows the challenges of this market.
If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.
Just Listed – Spacious, Updated Townhome with Spectacular Outdoor Entertainment Area
I just listed this lovely townhouse at 2929 Center Street in Coconut Grove. It has 2 bedrooms, 2.5 bath plus den with tons of outdoor area for entertaining.
Impeccably maintained and beautifully tiled with an open, updated kitchen that leads to the sunken living room with garden views throughout the entire home.
There is approximately 1,500 sq ft of fenced, outdoor living area with a gazebo, deck, garden and more than enough room to bar-b-que. This community is gated and has only has 6 units in total with a private pool exclusive to the residents. Each unit comes with 2 assigned parking spaces and visitor parking on premises. Spectacular location, just minutes from Downtown Miami, Coral Gables, South Miami and the Beaches.
To view the entire video tour of this home, click here.
If you are interested in seeing this home or any others in the Coconut Grove, Coral Gables, or South Miami areas. please give me a call at 305-987-2644 or send me a note here.
Just Sold – Grove Towers Foreclosure
My buyers just closed on this magnificent 3 bedroom, 3 bath condominium in Grove Towers and all for $203.33 per sq. ft. (Sale Price $342,000) With the average list price in the building of $363.13 per sq. ft. listings and recent sales average of $373.27 per sq. ft., this was a spectacular deal.
This is another good example of how working with a “local expert” can make all the difference when it comes to buying or selling your home.
If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here
Light, Bright and Spacious – Coconut Grove Townhome for Sale or Rent
I have to say that the Coconut Grove real estate market has come alive since the begining of 2011. The agents are running around town showing properties everywhere and buyers are actually buying!! That being said, my newest listing, Mello Grove, had 8 showings this weekend. Take a look at the video below and you’ll see why!!
This 2 bedroom, 2 bath, 2 story townhome is right where you want to be. Close to everything, UM, Coconut Grove town center, Coral Gables, South Miami and the Beaches. The complex is a boutique gated community and each unit comes with 2 assigned parking spaces. Available for sale or rent, furnished or unfurnished. Come by and check it out!
Asking Sales Price - $245,000. For Rent - $2,150.
If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.
Three Coral Gables Condos with Surprisingly Spectacular Views
Recently, I was showing condos to clients relocating here from Washington D.C. Because of where they were coming from their first priority was the view. When people come here to Miami looking for a view, we generally think of coastal areas such as Coconut Grove, Brickell, Downtown or Miami Beach. But in the heart of Coral Gables is an area on the northern end of Ponce de Leon Blvd. that has three new construction buildings with surprisingly spectacular views. And even better, they and are priced very competitively for sale and rent.
The buildings located at 1300, 1607 and 1805 Ponce de Leon Blvd. are all mixed use buildings which means that they feature commercial space at the base of the building with residences above. Since they are the tallest structures in the area, many of the views are unobstructed for miles. We were very surprised being able to see downtown, the beaches and even the water to the east with limitless views of the Biltmore, golf courses and the residential areas surrounding.
All the Coral Gables shopping, restaurants and even golfing are within walking distance. Even better, you can jump on the Gables Trolley which provides public transportation throughout the day. The perfect urban style living.
Here are photos of each building with a link to the units currently available.
Additionally, all of these building have units for rent and since renting seems to be more prevalent, here is a list of the rentals for all three buildings.
Tri-City Market Update – June 2010 – Coconut Grove, Coral Gables & South Miami
The June numbers are in!! The below graphs outline the sale statistics, on a month-by-month basis, for the tri-city areas of Coconut Grove, Coral Gables and South Miami. As usual, I have broken down the data into categories: Single family under $500K, $500K – $1MM, over $1MM and Condominiums/Townhomes.
Historically, summer months are slower here in sunny Miami and it appears that history is repeating itself. Many of my fellow realtors have also noticed a slight decrease in activity this June over previous months.
Single Family Homes under $500,000.
0 to $500,000.
$500,000 to $1,000,000.
In this segment of the market, there also appears to be some sort of leveling off occurring. The inventory is roughly the same since the beginning of the year along with the sales, and pending contracts.
Single Family Homes over $1,000,000
Over $1,000,000.
All price ranges
Here in the condominium/townhome market is where we are currently seeing the most significant positive movement. Over last year this time, there is a 45.8% increase in sales, 29.8% increase in pended contracts and a decrease of 9.4% in inventory. Due to the influx of cash buyers, many of these builidngs are making a turnaround and becoming financially stable again.
If you or someone you know is looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami real estate, give me a call at 305-987-2644 or send me a note here.
