Is Coconut Grove Seeing The Bottom?
April 23rd, 2009 categories: Coconut Grove Real Estate
I am scared to even mention the word, but all I can say is that April has been a VERY busy month so far for Coconut Grove real estate. Just this week we have seen 7 homes, 2 condos and 1 townhouse go under contract. There have been times when we didn’t see that in an ENTIRE MONTH. If next week has this many pending sales we could be in for the most active month Coconut Grove has experienced since the downturn began. So far, April has had a total of 24 properties go under contract with 7 more days to go!
Have we hit bottom? I have no idea. April could be a fluke. But if we experience a few more months like this, I would feel comfortable in saying yes. Don’t forget that summer is coming which is typically a very slow time for real estate in South Florida. It will be interesting to see how summer will affect a potential market in recovery.
This week’s pending sales:
| Address: | Bds/Bths | Sq.Ft. Living Space |
Original Asking Price | Current Asking Price |
Distressed |
| 3880 Irvington Ave. | 3/2.5 | 2,604 | $899,000 | $799,000 | No |
| 4060 Battersea Rd. | 2/2.5 | 15,000 Lot |
$749,000 | $749,000 | No |
| 3511 Royal Palm Ave. | 3/2.5 | 1,378 | $899,000 | $675,000 | Short Sale |
| 4235 Braganza Ave. | 3/2 | 1,644 | $699,900 | $589,900 | Short Sale |
| 3520 E. Fairview St. | 3/3 | 2,079 | $680,000 | $580,000 | Short Sale |
| 4160 Pomona Ave. | 4/3 | 2,265 | $549,000 | $525,000 | No |
| 3 Grove Isle Drive | 2/2 | 1,882 | $450,000 | $450,000 | Short Sale |
| 3221 Frow Ave. | 3/2 | 2,277 | $497,900 | $299,900 | Foreclosure |
| 3057 Virginia St. | 3/3 | 1,423 | $254,900 | $254,900 | Foreclosure |
| 2740 SW 28 Terr. | 1/1 | 605 | $117,900 | $85,900 | Foreclosure |
This information is courtesy of the SEF MLS and is deemed reliable but not guaranteed.
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