Archive for December, 2011
Coconut Grove Townhouses – Market Update
December 29th, 2011 | categories: Coconut Grove Real Estate, Coconut Grove Townhouses
Today I am heading out to show property in the Center Grove so I thought I would give a little synopsis of the market there. There have been a total of 42 townhouses sold in the Center Grove in 2011. Sale prices start at $144,900 (a foreclosure on Bird Avenue) and go all the way up to $539,000 (built in 2007 with a pool and upgrades). On average, sellers are getting 95% of their list price on these townhouses which indicates to me that most Center Grove townhouse owners are very realistic on their pricing. In the single family market the average is about 90%.
The Center Grove is in an interesting position right now. There is a lack of single family homes in Coconut Grove priced in the $400,000 to $500,000’s which is causing an increased demand for townhouses in that price range. Also, the townhouses in this price range are typically turn-key ready whereas the single family homes in this price range are not. During the boom, the townhouse market skyrocketed under the very same conditions. It will be interesting to see what lies ahead for townhouses in the Center Grove.
I am in town and working over the holidays, if you would like to set up a listing or buyer consultation please contact me directly at 305-342-1623.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
Why List Your Coconut Grove Home With Me?
December 28th, 2011 | categories: Selling Real Estate in Coconut Grove
Aside from my charming personality and professional reputation as “The Real Estate Coconut”, another reason to list with The Riley Smith Group is that your home will be syndicated to more than 500 websites around the globe such as: www.MayfairInternationalRealty.com, www.LuxuryPortfolio.com, www.MiamiHerald.com, www.ChristiesInternationalRealEstate.com, www.WallStreetJournal.com, www.LeadingRe.com, www.HomeFinder.com, www.HotPads.com, www.ReloDirect.com, www.AOLRealEstate.com, www.Trulia.com, www.Realtor.com, www.Zillow.com and www.EWM.com.
According to NAR (The National Association of Realtors) 88% of home buyers use the Internet in their home search. In this market it is essential to give your home maximum exposure and the Internet is one of the most effective means of accomplishing this.
I am in town and working over the holidays, if you would like to set up a listing or buyer consultation please contact me directly at 305-342-1623.
Canalfront Property Sells For $1,080,000 In North Grove
December 27th, 2011 | categories: What Is Selling In Coconut Grove Real Estate?
The canal front property located at 1820 South Bayshore Drive closed last week for a sales price of $1,080,000. The house offered 100 feet of water frontage with no bridges to the bay and needed completely redone on the interior. It was a 3,416 square foot house on a 20,000 square foot lot. This sale makes the 8th waterfront sale in Coconut Grove this year.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
Coconut Grove Gated Communities Sees 100% Increase In Sales
December 22nd, 2011 | categories: Coconut Grove Gated Communities
Activity in Coconut Grove’s gated communities doubled in 2011. The sales were distributed between Ye Little Wood, The Moorings, Four Way Lodge Estates, Treasure Trove, Entrada Estates and Camp Biscayne. Waterfront homes in gated communities sold for a median price of $4,000,000 or $521.00 per square foot. The non-waterfront homes in gated communities sold for a median of $1,500,000 or $307.00 per square foot. Most of the homes that traded under $2,000,000 in gated communities needed a significant amount of work.
I am in town and working over the holidays, if you would like to set up a listing or buyer consultation please contact me directly at 305-342-1623.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
Closed Sale In Coconut Grove Makes #152 In 2011
December 21st, 2011 | categories: Coconut Grove Real Estate
Now that Hanukkah is upon us and Christmas is fast approaching it is not surprising that the number of new listings and closed sales has slowed down. The market is not at a complete standstill however; showing requests on our listings are steady and I have been on 2 listing appointments in the past 2 days. Many sellers are waiting until after the New Year to put their home on the market.
Today the sale of 3665 St. Gaudens Road in the South Grove came across the MLS at a price of $1,225,000 (or $287.00 per square foot). The home offered 4,624 square feet of living space with 5 bedrooms, 4 bath and 1 half bath. The listing agent was Jo-Ann Forster of EWM Realtors.
As of today, there have been 152 single family home sales in Coconut Grove this year. In 2010, there were 119 single family sales. These figures exclude West Grove.
I am in town and working over the holidays, if you would like to set up a listing or buyer consultation please contact me at 305-342-1623.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
Alfred Browning Parker Home Sells For $508.00 PSF
December 19th, 2011 | categories: Coconut Grove Real Estate, What Is Selling In Coconut Grove Real Estate?
The house designed by modernist Alfred Browning Parker at 4195 Park Avenue in South Coconut Grove closed for $545,000 last week. At $508.00 per square foot, it exemplifies our unique real estate market in Coconut Grove. There are very few places where a person would pay a half million dollars for a 1,052 square foot cottage with 2 bedrooms and 1 bath. The home was listed by Sean Reichert of Grove Properties.
Alfred Browning Parker’s architecture commands a high price here in the Grove. Back in 2009, one of his homes located on Seminole Street sold for $707.00 per square foot.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in selling your home I would be happy to give you a no pressure home valuation. Call me on my cell at 305.342.1623 or send me a message here.
2011 Coconut Grove Real Estate – One For The Record Books!
December 15th, 2011 | categories: Coconut Grove Real Estate
As I predicted earlier this year, the amount of real estate sold in Coconut Grove in 2011 is turning out to be one for the record books. Take a look at the chart I prepared above which shows the volume of single family homes sold in North & South Coconut Grove.
I expect 2012 to start off with a bang and am looking forward to another busy year!
Looking For Land In South Coconut Grove
December 14th, 2011 | categories: Coconut Grove Real Estate
Attention fellow Realtors and Coconut Grove residents. I am working with a buyer who is interested in land (could also be a tear down home) in South Coconut Grove. We’ve exhausted everything that is currently on the market today.
If you know of anything in the South Grove that is not on the MLS please give me a call on my cell at 305-342-1623.
1/2 Acre Lot In North Coconut Grove Sells
December 14th, 2011 | categories: Coconut Grove Real Estate
The short sale property located at 2001 Secoffee Street in North Coconut Grove sold this week for $470,000 (list price $495,000). I had a buyer interested in this property a few months ago however the bank made it clear that they were only accepting cash offers. The house needed completely renovated on the interior and it traded for $240.00 per square foot of living area or $20.00 per square foot of land. When you value a property like this you have to consider that it was not a complete tear down and that it was located on a very large lot. One of the reasons the land price was so low was because the property backed onto US1.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in selling your home I would be happy to give you a no pressure home valuation. Call me on my cell at 305.342.1623 or send me a message here.
Surprising Numbers In The North Grove
December 13th, 2011 | categories: Buying Real Estate in Coconut Grove, Coconut Grove Real Estate
If you read my blog you know that the neighborhood north of Tigertail Avenue between 27th and 22nd Avenue in Coconut Grove is typically entry-level homes priced $400,000 to $600,000. We are now beginning to see prices in the $1,000,000’s in this neighborhood thanks to some newer construction homes that are just now coming on the market. Of the 12 homes that are currently for sale in this area, 4 are priced over $1,000,000. Click to scroll through the homes that are currently for sale in this section of North Coconut Grove.
One of the $1,000,000+ homes that came on the market went pending in just a matter of days. Because of their size and price, buyers/realtors/appraisers will not use these as comparable sales on the smaller homes going forward.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in selling your home I would be happy to give you a no pressure home valuation. Call me on my cell at 305.342.1623 or send me a message here.