Want Dirt? Land Values in Coconut Grove
December 7th, 2008 categories: Coconut Grove Real Estate
The market for buildable land in Coconut Grove has been extremely slow this year. This isn’t suprising due to the fact that many builders have been hit hard by the sluggish real estate market and aren’t interested in purchasing new property until things pick up. With demand so low, values for vacant land in Coconut Grove have fallen more than values for single family homes.
Single Family Land Values In South Coconut Grove
There are 14 lots for sale in the South Coconut Grove area totaling $25,904,000 worth of property. The median List Price for land in South Grove is $813,500. And more importantly, the median “Asking Price Per Square Foot” of land in South Grove is $58.00. Click here to see the lots available in South Coconut Grove.
There have been 2 lots to close in 2008 in South Coconut Grove:
- 3612 Bayview Road | 13,250 sq. ft. lot | Asking Price: $850,000 | Sale Price: $750,000 | Sale Price Per Square Foot: $56.60
- 4095 Bonita Avenue | 9,842 sq. ft. lot | Asking Price: $585,000 | Sale Price: $505,000 | Sale Price Per Square Foot: $51.31
Single Family Land Values In North Coconut Grove
There are 12 single family lots for sale in the North Coconut Grove area totaling $12,620,000 worth of property. The median asking price for land in North Grove is $624,000 and the median “Asking Price Per Square Foot” of land in North Grove comes out to $71.00. Click here to see the lots available in North Coconut Grove.
There have been 2 lots to close in 2008 in North Coconut Grove:
- 3010 Emathla Street | Half Acre – 20,000 sq. ft. lot | Asking Price: $1,559,000 | Sale Price: $1,400,000 | Sale Price Per Square Foot: $70.00
- 1835 Fairhaven Place | 6,250 sq. ft. lot | Asking Price: $895,000 | Sale Price: $660,000 | Sale Price Per Square Foot: $105.60
Shameless Plug: I have a vacant land listing located at 1828 Espanola Drive on a 7,000 square foot lot and the owner is asking $600,000 which comes out to $80.00 per square foot. Espanola Drive is one of the most prestigous streets in North Coconut Grove. Carole Smith recently sold a builder’s new construction home on Espanola for $2,000,000.
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