Another Strong Sale At Grove Isle In Coconut Grove | Unit B1510 Sells For $505.00/Sq. Ft.

Grove Isle, Coconut Grove

You may remember my recent post about soaring values in the island condo community of Grove Isle.  The average “price per square foot” has risen significantly this year from $297.00 just 3 years ago.  This week the corner unit (B1510) at 2 Grove Isle Drive closed for $1,225,000 or $505.00/sq. ft.  This bumps up the average “sale price per square foot” in the building for 2014 to $457.00.  This unit offered 3 bedrooms with 2.5 baths and 2,424 square feet of living space with spectacular views of Biscayne Bay, marina and the city from every room.  Listing agent was Maria Manso of EWM Realty.

Grove Isle is one of my favorite communities in Coconut Grove and offers year round resort living with first class amenities.

View condos for sale at Grove Isle here.

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Introducing 4001 Battersea Road | Presented By The Riley Smith Group

4001 Battersea Road, Coconut Grove

Today I would like to present our newest listing which is located on one of the best streets in Coconut Grove.  4001 Battersea Road is an incredible Caribbean Colonial style home which exudes character and charm.  Some of the special features include an elegant central foyer, wood floors, fireplace, new metal roof and impact windows/doors.   The exquisite custom kitchen has an adjacent breakfast room and family room which open to a private & tranquil terrace and pool.  The expansive master suite has a separate den/office and views of the surrounding tree tops.  This home is completely turn key ready and just minutes from Coconut Grove’s bayfront parks, marinas, and the village center.

4001 Battersea Road, Coconut Grove

4001 Battersea Road, Coconut Grove

Details of 4001 Battersea Road, Coconut Grove:

  • 3,189 square feet of living area
  • 6,500 square foot lot
  • 4 bedrooms, 3 full baths, 1 half bath
  • View more photos here
  • Offered at $1,399,000

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

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Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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“Why Is Coconut Grove Real Estate So Expensive?”

View of Biscayne Bay From Coconut Grove Real Estate

We often get asked by our buyers about the difference between real estate in Coconut Grove and real estate in the neighboring communities.  One question that comes up a lot is “Why Is Coconut Grove Real Estate So Expensive?”!

There are several reasons why the average “Sale Price/Square Foot” figures are so high here compared to Coral Gables, Pinecrest and South Miami.  The #1 reason is because we are the first residential community south of downtown Miami and Brickell.  A shorter commute to work gives added value to our properties here.  We are also a waterfront community with a large number of waterfront homes and nearby access to waterfront parks, restaurants and marinas which South Miami and Pinecrest can’t say the same.   Lastly, we have a unique vibe that can’t be found in most other neighborhoods (particularly those which have strict zoning regulations).  This has created a broad range of architectural styles for buyers to choose from.  Drive down any street in the Grove and you will find a charming Key West style bungalow beside a modern multi-million dollar masterpiece.  Sure, if a neighbor wants to put a pink flamingo in their yard nobody will stop them, but our quirky residents add to the unique character of our village and obviously haven’t hurt the home values here OR the demand.

If you are interested in the numbers, check out the figures below for the different communities:

Coconut Grove Real Estate

  • Average Sale Price: $1,325,000
  • Average Sale Price/Square Foot: $425.00
  • Average Home Sold Offers: 3 Bedrooms, 3 Bathrooms

Pinecrest Real Estate

  • Average Sale Price: $1,282,000
  • Average Sale Price/Square Foot: $292.00
  • Average Home Sold Offers: 4 Bedrooms, 3 Bathrooms

Coral Gables Real Estate

  • Average Sale Price: $1,300,000
  • Average Sale Price/Square Foot: $369.00
  • Average Home Sold Offers: 3 Bedrooms, 3 Bathrooms

South Miami Real Estate

  • Average Sale Price: $486,000
  • Average Sale Price/Square Foot: $235.00
  • Average Home Sold Offers: 3 Bedrooms, 2 Bathrooms

The real estate market in Coconut Grove is very complex.  If you are interested in working with a Realtor who knows the numbers and tracks the sales, please contact me.  I have been the top selling Realtor in Coconut Grove for the past 5 years.  I can be reached anytime on my cell at 305-342-1623 or you can fill out our contact form here. 

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Common Myth Debunked….

Ventura Small

It is a common misconception among sellers that you have to add in a little cushion to the list price to give buyers some negotiating room.  But the reality is that if you price the home correctly based on the recent comparables in your neighborhood then a cushion is not necessary.  Buyers know a well priced home when they see one and are willing to come in with a strong offer in order to secure the property.  The recent sales over the past 7 days demonstrate my point.   All homes were perfectly priced and sold very close to, at or above their asking prices.

  1. 3886 La Playa Boulevard | List Price: $659,000 | Sale Price: $670,000 | Listed by The Riley Smith Group | Sold Over Asking Price!
  2. 1788 Fairhaven Place | List Price: $945,000 | Sale Price: $945,000 | Listed By Ivory Cooks of Coldwell Banker | Sold For Full Price!
  3. 4104 Ventura Avenue | List Price: $849,000 | Sale Price: $840,000 | Listed by The Riley Smith Group | Sold Within 99% Of List Price!

The real estate market in Coconut Grove is very complex.  If you are interested in working with a Realtor who knows the numbers and tracks the sales, please contact me.  I have been the top selling Realtor in Coconut Grove for the past 5 years.  I can be reached anytime on my cell at 305-342-1623 or you can fill out our contact form here.

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Modern Hacienda Just Listed In Coconut Grove | Presented By The Riley Smith Group

Photo of Living Room at Home in Coconut Grove

I wanted to give my blog readers the first opportunity to check out our new listing in North Coconut Grove before it hits the MLS.  This modern hacienda style home has wood beamed ceilings, arched doorways, impact glass, natural light and is completely walled and gated.  One of my favorite things about this home is that entire house opens up to the pool and lush gardens.   It is a great home for entertaining and enjoying the outdoors.

Covered Entertaining Space

Pool at 2769 SW 22nd Avenue

Details of 2769 SW 22nd Avenue, Coconut Grove:

  • 4 Bedrooms, 4 Bathrooms (+ Maids Room)
  • 3,057 Square Feet of Living Area
  • 9,608 Square Foot Lot
  • Garage
  • Offered at: $1,349,000

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Property Alert: New Listing In Longview!

Longview

Longview is a very sought after community in Coconut Grove.  It is a small enclave of 10 luxury two-story villas surrounded by lush gardens, a pool and tennis court.  It is ideally situated between South Bayshore Drive and Tigertail Avenue in North Coconut Grove.  The last property to come on the market in Longview was my listing at 2475 South Bayshore Drive Unit #8 back in 2012 which closed for $915,000.

Longview Pool

There is a new opportunity to get into the gated community of Longview.   Unit #7 has come on the market recently as a rental property.  With 4 bedrooms, 4 bathrooms and 3,799 square feet of living area, it is nicely updated with stone floors, formal living and dining room, hurricane impact windows, chef’s kitchen and a library/office.   This unit is offered at $8,000 per month by Azure Realty.

Longview is one of the original estates of Coconut Grove.  In the early 1900′s, it was home to Alfred Whitting and later sold to philanthropist W.T. Grant.  In 1937 Mr. Grant donated Longview to the University of Miami and it became the President of UM’s home for the next 37 years.  It was the scene of many of the University’s social and ceremonial functions. 

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Values Soar At Grove Isle | $451.00/Square Foot And Rising

Grove Isle, Coconut Grove Condo Chart

Along with the single family home market, condo values have been steadily increasing over the past few years in Coconut Grove.   At Grove Isle, the average has reached an all-time high of $451.00 per square foot.  There have been 9 closed sales so far in 2014, and there are 2 currently under contract (these have an average list price/sq. ft. figure of $518.00).   This is an incredible figure when you look at how far we have come.  Just 3 years ago the average was at $297.00/square foot.  Owners who have hung on to their units have seen a nice appreciation since then!

An important sale that I wanted to mention was Penthouse 10 which closed back in May of this year for $1,600,000.  At $660.00/square foot, this was the highest “Sale Price/Square Foot” figure Grove Isle has experienced since 2008!  Broker was Fortune Realty.

Inventory at Grove Isle has been extremely low over the past few years with no more than 10 units on the market at any given time.  There is a high buyer demand for the 3 bedrooms units on the island, and when they are listed for sale they typically sell very quickly.

Grove Isle appeals to all types of buyers, but particularly for those looking for a condo with incredible amenities and island style living.   Some of the best things about living at Grove Isle include their breathtaking waterfront views, tennis courts, full service marina, restaurants, bar, spa, hair salon, gym and scenic walking/jogging path.

View condos for sale at Grove Isle here.

We have a strong history of selling condos in Coconut Grove.  Please contact us if you are interested in learning more about what is for currently for sale.  If you own a condo and are considering selling, please contact us at 305-342-1623.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Coconut Grove Townhouse Just Sold For Full Asking Price By The Riley Smith Group!

3177 Florida Collage

There was a frenzy over our Coconut Grove townhouse listing at 3177 Florida Avenue when it came on the market.  We placed it under contract in a matter of days and closed today for full asking price.  Buyers are drawn to townhouses because they are turn-key ready and typically offer more living space than a similarly priced single family home in Coconut Grove.

3177 Florida Avenue was a showcase property that had high-end finishes, light filled interior spaces, volume ceilings and a private covered terrace with pool.  Other features included a private balcony off of the expansive master suite, custom built-ins throughout, Italian porcelain tile floors, impact glass and a chef’s kitchen with sleek European cabinetry.  The townhouse closed for $769,000 or $315.00/square foot. Congratulations to the sellers and buyers!

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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What Price Point Sells The Most In Coconut Grove?

Coconut Grove Homes Chart

Take a look at the chart I created above which shows the amount of homes For Sale and Sold in different price points in Coconut Grove.  As you can see, the segment with the highest activity is priced between $500,000 and $999,999.  The market definitely needs to replenish its inventory in this price range in order to satisfy the demand of buyers.  It is nearly double the activity of the others.

You may be wondering why there isn’t more activity in the 0-$499,999 price range, but the reason is simply because it is virtually impossible to find a single family home in that price point here.

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Highest Sale Price To Date And Other Significant Sales

Costa Rica 2014

Summer is in full force here in Coconut Grove, temperatures are high and the streets are empty.  I just got back from a trip to Costa Rica where I caught up on some much needed rest and relaxation.  Now I am back for the rest of the summer and gearing up for a busy 3rd quarter.   While I was gone there were some important sales that  I wanted to let you know about.

3843 Little Avenue | Gated Community of Ye Little Wood | Highest Sale Price In 2014: $4,225,000 | 8,488 Square Feet Of Living Area | 26,500 Square Foot Lot | 5 Bedrooms, 7 Baths | Agent: Mayi de la Vega of One Sothebys
3830 Carole Court | Gated Community of Four Way Lodge Estates | Waterfront Home Sold For Full Price: $2,360,000 | 3,255 Square Feet Of Living Area | 11,544 Square Foot Lot | 3 Bedrooms, 2.5 Baths | Agent: Helen Nicastri of Coldwell Banker
3849 Leafy Way | Sold For Full Price: $2,150,000 | 3,553 Square Feet Of Living Area | 28,234 Squre Foot Lot | 4 Bedrooms, 3.5 Baths | Agent: Sylvia Cherry of One Sothebys

Real estate in Coconut Grove is changing on a daily basis.  If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Coconut Grove Gated Communities

Coconut Grove Condos

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