What Are New Construction Homes In Coconut Grove Selling For?

New Construction Home In Coconut Grove

There have been 4 new construction sales recorded on the MLS so far in 2015.  By new construction I am referring to those properties that were built (from the ground up) in 2014 or later.  Combined, these homes sold for an average of $448.00/square foot, and a sale price $1,751,400.  The numbers vary dramatically when you look at them on an individual basis. Values of new construction homes are affected by many things including the location, home size, lot size, finishes, design and layout.

  1. 4100 Hardie Avenue | 4,100 Sq. Ft. LA | 6,700 Sq. Ft. Lot | Sale Price: $1,600,000 | SP/Sq. Ft.: $390.00
  2. 2225 Trapp Avenue | 4,741 Sq. Ft. LA | 6,214 Sq. Ft. Lot | Sale Price: $1,875,000 | SP/Sq. Ft.: $395.00
  3. 3763 Douglas Road | 2,530 Sq. Ft. LA | 8,500 Sq. Ft. Lot | Sale Price: $1,750,000 | SP/Sq. Ft.: $691.00
  4. 3925 Leafy Way | 5,041 Sq. Ft. LA | 16,200 Sq. Ft. Lot | Sale Price: $2,840,000 | SP/Sq. Ft.: $563.00

Keep in mind that many new construction homes are selling off-market right now, meaning the numbers are never recorded on the MLS.  I track closely the new construction market for my clients and investors. In my opinion, new construction homes on good streets should sell anywhere between $500.00 – $600.00 per square foot.

The Riley Smith Group has several great new construction homes coming on the market in the next few months. If you are interested in learning more about them before they hit the market please contact us at 305-342-1623.