Feb062014

Mortgage Rates Dip: Homebuyers Just Got A Boost

Mortgage rates are inching closer to four percent after starting 2014 at 4.53%. Based on several economic factors including housing and manufacturing data coupled with a weaker stock market, rates have declined every week this year by a nominal .3 pecentage point. But it is adding up! The current rate is 4.23%.

Source: CNN MONEY

Source: CNN MONEY

It represents about a $105 a month savings on a $600,000 30 year mortgage. You may not have to give up your Starbucks fix afterall when you buy that charming Old Spanish in Coral Gables! To read more about this trend visit Money.CNN.com

Jan172014

Miami Among Top Luxury Real Estate Markets

Others are catching on to what South Florida residents have known for a long time: Miami offers a RICH life. According to a recent study by Christies International, luxury home sales volume is increasing in Miami, New York and London. A detailed report can be accessed here but I’ve summarized the Miami real estate market related highlights below to further confirm that real estate investment in Miami and its beloved pockets such as Coral Gables and Coconut Grove are experiencing an upswing.

Luxury market Recap

 

Jan142014

December 2013: Coral Gables Real Estate Market Update

December came and went and so did 39 Coral Gables homes for sale.   Although there were 22% fewer home sales in Coral Gables when compared to December 2012, it is not an indicator that the market is slow. Instead it means inventory remains low – making this a great time to sell your home!

Below find a quick video detailing the trends, month over month and year over year. Check out the increase in sales prices!

Take a look!

View Carole Smith’s Market Videos

Click here to view individual details of each Coral Gables single family home which sold in December 2013.

By the Numbers: Coral Gables Home Sales December 2013

ADDRESS #BEDS  #BATHS  SQ FT  LP$  SP$  % Variance   DOM
130 CASUARINA CONC 7 8 8735   7,995,000  7,650,000  -4.32% 211
9540 JOURNEYS END RD 7 7 12328   7,650,000  7,030,000  -8.10% 539
6500 RIVIERA DR 6 6 8558  6,950,000  6,200,000  -10.79% 771
590 REINANTE AV 5 6 7749  5,450,000  5,300,000  -2.75% 219
9440 OLD CUTLER LN 5 4 5409  3,995,000  3,400,000 -14.89% 315
9501 KERWOOD CT 6 7 7267  2,950,000  2,750,000 -6.78% 21
4906 N KENDALL DR 6 7 4837 2,950,000 2,550,000 -13.56% 191
3406 GRANADA BL 5 6 4707 2,450,000 2,225,000 -9.18% 52
6851 SUNRISE PL 4 3 3882 2,000,000 2,050,000 2.50% 9
665 DAVIS RD 5 5 5527 2,100,000 1,830,000 -12.86% 155
845 S ALHAMBRA CR 4 3 2982 1,675,000 1,675,000 0.00% 17
7301 CAPILLA CT 5 4 4345 1,795,000 1,537,530 -14.34% 54
4395 INGRAHAM HY 3 3 3590 1,625,000 1,500,000 -7.69% 115
1251 ANASTASIA AV 4 3 3747 1,400,000 1,206,710 -13.81% 151
5001 GRANADA BL 5 4 3752 1,350,000 1,180,000 -12.59% 150
6601 RIVIERA DR 4 3 3173 1,295,000 1,175,000 -9.27% 193
702 MADEIRA AV 4 3 3349 1,275,000 1,175,000 -7.84% 143
1930 COUNTRY CLUB PRADO 4 2 2714 1,175,000 1,125,000 -4.26% 48
6881 VERONESE ST 4 3 2818 949,000 915,000 -3.58% 136
1109 SEVILLA AV 4 3 2942 799,000 770,000 -3.63% 38
531 SANTURCE AV 3 2 2325 799,000 760,000 -4.88% 50
5809 MICHELANGELO ST 4 3 2582 750,000 755,000 0.67% 5
1519 DORADO AV 3 2 1973 749,022 749,100 0.01% 7
922 CASTILE AVE 3 4 2741 735,900 735,900 0.00% 67
1113 SEVILLA AV 3 2 1897 715,000 715,000 0.00% 38
1717 CORTEZ ST 3 3 1815 699,000 699,000 0.00% 4
1233 ADUANA AV 3 2 2113 690,000 690,000 0.00% 6
1409 BARACOA AV 3 2 2241 689,900 680,000 -1.43% 11
900 EL RADO ST 5 4 3787 699,000 669,000 -4.29% 236
1516 ZORETA AV 3 2 1437 603,900 605,000 0.18% 184
810 VENETIA AV 2 2 1600 560,000 557,000 -0.54% 10
116 SAN SEBASTIAN AV 3 2 1688 598,000 555,000 -7.19% 37
704 CAMILO AV 3 2 1934 535,000 552,500 3.27% 5
1540 CERTOSA AV 2 2 1659 575,000 535,000 -6.96% 16
809 VALENCIA AV 3 2 1740 575,000 522,500 -9.13% 36
329 SARTO AV 2 2 1520 499,000 485,500 -2.71% 3
834 MEDINA AV 2 1 1484 439,000 435,000 -0.91% 25
644 MINORCA AV 4 2 2119 450,000 385,000 -14.44% 442
808 CATALINA PL 3 2 1636 375,000 375,000 0.00% 23

 

– Adapted from: http://veryspecialhomes.com/2014/01/11/december-2013-coral-gables-real-estate-market-update

Dec102013

November 2013: Coral Gables Real Estate Market Update

I blinked and November was gone…and so were 40 properties in Coral Gables! The year over year numbers are staggering. There was 22% less inventory as compared to last year and homes sold 50% faster that they did last November.

Below is a video recap for Coral Gables November home sales figures.
 Here’s a list of all that sold:

Gables 11 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If you’d like to view property details and photos, click Coral Gables Sales here.