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



Home Prices Continue to Climb

Upward trendsMoments ago, The S&P/Case-Shiller May home price index data was released. It shows national home prices are  up by 12.2% compared to a year ago – the highest increase year over year in 7 years. Home prices in Coral Gables and Coconut Grove during the same reporting period have also increased but at a higher pace compared to the national average.

What does this mean if you are in the market for a home? It means reduced inventory is driving prices up but home values are still fair as compared to the boom. Don’t make a decision under pressure, though. Make certain you know what your budget and must haves are. These critical elements will help navigate the waters for you…along with a knowledgeable Realtor. This is also true if you are a homeowner considering selling your property. Don’t only think of the profit you may make but also consider your next dwelling.


May 2013: Coral Gables Real Estate Market Update

May was the biggest sales month to date in 2013 with 55 single family homes sold in Coral Gables. It also saw a huge increase year over year as compared to May 2012. Continuing the hectic pace, May witnessed shrinking median days on market. Check out the quarterly trend:  March: 88  vs April: 49 vs May: 22. (No wonder I’ve been so busy).

Below, find a visual summary of May Coral Gables Sales, By The Numbers.

Gables May 2013 Infographic

Here’s what sold this month including 440 Loretto Avenue which I sold for asking price in less than a week. Congratulations to all involved!

Please note that I’m using a new format for the detailed homes sales. The columns can be sorted and you can search within the data set…(because I know that is exactly what you can’t wait to do.)

ADDRESS#BEDS#FBSQ FTList $Sales $% VarianceDOM
470 COSTANERA RD5766554,250,0003,500,000-17.65%470
6840 SUNRISE PL5440922,695,0002,500,000-7.24%70
279 VELEROS CT5444632,650,0002,500,000-5.66%96
2623 ALHAMBRA CR6761412,500,0001,850,000-26.00%622
1080 SAN PEDRO AV4337422,250,0001,820,000-19.11%87
10415 LAKESIDE DR5550191,950,0001,800,000-7.69%105
924 ADUANA AV4341881,499,0001,400,000-6.60%165
2115 COUNTRY CLUB PRADO5438881,425,0001,325,000-7.02%23
1481 TAGUS AV5437781,390,0001,275,000-8.27%207
739 SANTURCE AV4334391,180,0001,053,250-10.74%21
16 E SUNRISE AV4344711,149,0001,025,000-10.79%328
1520 TAGUS AV4335161,099,9001,000,000-9.08%269
2412 COUNTRY543803950,000947,500-0.26%15
3615 HARLANO ST332641980,000925,000-5.61%76
1509 GARCIA AV443149950,000890,000-6.32%120
5720 MAGGIORE ST432744918,000880,000-4.14%260
4105 MONSERRATE ST533706975,000865,000-11.28%63
1110 S ALHAMBRA CR332604938,000855,000-8.85%8
1110 ANDORA AV432569899,000835,000-7.12%182
924 SOROLLA AV432651929,000827,000-10.98%106
6925 TORDERA ST543529916,700822,000-10.33%28
1924 FERDINAND ST332592849,000799,000-5.89%78
1100 ALHAMBRA CR543843696,000769,00010.49%4
449 MILLER RD322070692,000747,0007.95%3
4117 ALHAMBRA CR332770745,000685,000-8.05%14
6401 CASTANEDA ST321809686,900680,000-1.00%3
800 ALHAMBRA CR322273674,000680,0000.89%8
1101 ALHAMBRA CR322902675,000680,0000.74%9
1124 ANDORA AV321743675,000675,0000.00%5
4211 ANDERSON RD322215650,000656,0000.92%6
306 CAMILO AV422126695,000650,000-6.47%5
1610 COSTADO ST221640618,000620,0000.32%5
933 PARADISO AV321812574,000574,0000.00%13
3916 ANDERSON RD322244585,000572,500-2.14%71
601 ALMINAR AV331796575,000555,000-3.48%44
604 ALCAZAR AV311651549,000554,0000.91%3
630 ALMERIA AV321704549,900535,000-2.71%17
4700 ALHAMBRA CR321826546,000515,000-5.68%4
422 SAVONA AV321638580,000515,000-11.21%56
903 PIZARRO ST422074509,000505,000-0.79%2
440 LORETTO AV221504499,000499,0000.00%7
1223 CAPRI ST321748399,900450,00012.53%6
131 ALEDO AV211250419,000408,000-2.63%22
108 SARTO AV211274399,000393,000-1.50%13
1717 CORTEZ ST331781380,000380,0000.00%516
1266 BIRD RD321684399,000379,000-5.01%53
537 MADEIRA AV211381380,000370,000-2.63%84
4905 RIVIERA DR321473389,000355,000-8.74%0
2011 RED RD321784369,000350,000-5.15%71
101 SARTO AV221475349,900340,000-2.83%80
1525 VENETIA AV321598324,900327,0000.65%9
1264 MILAN AV311475258,000290,30012.52%7
1248 AGUILA AV211513299,000280,000-6.35%8
3900 S LE JEUNE ROAD321926335,000271,299-19.02%5
6 ALCANTARRA AV311367240,000240,0000.00%13

To view properties in detail, click here.


April 2013: Coral Gables Real Estate Market Update

April saw a slight decline in single family home sales in Coral Gables, as the infographic below will show. There was, however, a reduction of median days on market: March: 88  vs April: 49. There were also more million dollar + homes sold in Coral Gables last month, 40% in April as compared to 25% in March. A few nuggets to keep our eye on.

Below, find a visual summary of April Coral Gables Sales, By The Numbers.

Gables April 2013 Infographic


Here’s what sold this month including 6009 Maggiore Street which I sold. Congratulations to all involved!

Gables April 2013 j

To view properties in detail, click here.