Coconut Grove’s Diverse Real Estate Market, It Is All About Location
July 31st, 2009 | categories: Buying Real Estate in Coconut Grove, Coconut Grove Real Estate
For those of you who are not familiar with Coconut Grove, the community can be broken up into several different areas. Although I usually just differentiate between North and South Grove, there are actually pockets of homes in both areas where we see a vast difference in price point.
For instance, above you will find a map of “North Coconut Grove”. The entire area extends from 27th Avenue all the way North to where US1 meets South Miami Avenue. North Coconut Grove typically features homes with larger lots and higher prices (on average between $1,000,000 and $3,000,000). However, there is a section of the North Grove that doesn’t fall into that category. The pocket between 27th Avenue and 22nd Avenue is the perfect place for someone who wants to live in the North Grove but who’s price point is more in the $500,000 to $600,000 range.
South Coconut Grove can be broken up into the homes West of Main Highway and East of Main Highway. If you look at the homes West of Main Highway you will see most are priced between $600,000 and $1,500,000. But East of Main Highway you are looking at average prices of $3,000,000 and up. It is East of Main Highway in the South Grove where a bulk of the waterfront homes are which explains the high increase in price.
If you factor in our condos and the townhouses in Center Grove, our market here in Coconut Grove has something to offer everyone. In fact, I just listed two properties on the complete opposite ends of the spectrum. A gorgeous unit at the Ritz Carlton Residences priced for $1,190,000, and a condo at Grove’s Edge priced for $99,000.
If you are interested in buying or selling property in Coconut Grove, send me a note here or contact me at 305.342.1623.