North Grove vs. South Grove
February 2nd, 2009 | categories: Coconut Grove Real Estate Market Conditions
Same Number of Home Sales in North and South Coconut Grove
When going over the figures for my Real Estate Talk tonight it was interesting to see that the North Grove had approximately the same number of sales as the South Grove in 2008. Typically, we see many more home sales in the South because it is so much larger than the North.
Perhaps people want to be closer to the Downtown/Brickell/Mary Brickell area to save on driving time. It can easily take an extra 20 minutes during rush hour to get from the South to the North side of town (especially with the new traffic light on Ingraham Highway).
More Foreclosures in South Grove
Also of note, was the fact that there were many more foreclosures in South Coconut Grove. If this trend continues into 2009, foreclosures might start to set the market there for smaller houses under $1,000,000.
Bait and Switch: Want to know the difference in price point in South Grove vs. North Grove? You have to come to my Real Estate Talk tonight to find out!