Waterfront Homes In Coconut Grove
March 9th, 2009 categories: Buying Real Estate in Coconut Grove, Coconut Grove Real Estate
Your options are limited if you are looking for Coconut Grove waterfront homes. One reason is that Coconut Grove doesn’t have the abundance of canals that you see in other areas of South Florida. Another is that a majority of our coast is taken up by public parks, marinas, yacht clubs and Mercy Hospital. Of the approximately 250 single family homes on the market, there are only 7 for sale that are waterfront. Click here to scroll through Coconut Grove’s waterfront properties on the market as of March 9, 2009.
The homes on the water in Coconut Grove begin at $2,597,000 for a 5 bedroom house with 4,563 of square feet in The Moorings and go all the way up to $8,500,000 for a 4 bedroom house with 8,697 square feet on South Bayshore Drive. The average price per square foot of waterfront homes currently for sale in Coconut Grove is $941.00, with a high of $1,128.00 per square foot and a low of $555.00 per square foot.
The fact that only 2 of the 7 homes have made price reductions is indicative of the fact that these sellers do not “need” to sell and are perhaps waiting for the market to turn around. None of the properties are listed as foreclosure or short sale.
Dock space seems to be a requirement for many people looking at waterfront homes. The home listed for $2,597,000 in The Moorings is the only waterfront home for sale that does not come with a private dock. If you were interested in buying this house and really needed a place for your boat, The Moorings does have a community marina where you could put your name on the waiting list for the next available slip. I was told recently that the wait is about 3 years.
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