Market Update For Grove Isle
December 18th, 2009 | categories: Coconut Grove Condos
For Sale In Grove Isle
There are currently 23 units on the market in Grove Isle, a private island in North Coconut Grove that consists of 3 residential towers. There are no short sales or foreclosures on the market in Grove Isle as of today.
The units range in price from $475,000 for a 2 bedroom, 2 bath on the 3rd floor all the way up to $3,500,000 for a 5 bedroom, 5 bath on the 16th floor. To see a list of all that is currently on the market in Grove Isle, click here.
2009 Sold In Grove Isle
There have been 14 condos to close in Grove Isle in 2009, 2 of these were foreclosures. Sale prices have ranged from $320,000 (for a 2 bedroom/2 bath on the 2nd floor – not a foreclosure) all the way up to a $1,300,000 sale (for a 3 bedroom, 2.5 bath on the 8th floor). On average, the sales price per square foot of condos sold in Grove Isle during 2009 has been $297.00.
For Comparison – 2008 Sold In Grove Isle
Just as a point of reference, there were 19 units sold during 2008 in Grove Isle. The average sales price per square foot in 2008 was $398.00.
So if you compare 2008 with 2009, the average sale price per square foot has gone down by $100.00. That means that there is certainly value to be gained in Grove Isle right now.
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If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.