Sales Are Slow In The Moorings | Coconut Grove
The Moorings is one of Coconut Grove’s original gated communities which dates back to the early 1900’s. Back then the community was comprised of just 2 large waterfront estates owned by Katherine and Frank Church and Jessie More. For more history on The Moorings, click here.
Today, there are 43 homes located in The Moorings and it is considered one of the most exclusive and private communities in Coconut Grove.
2015 Home Sales In The Moorings
There has been just 1 closed sale in The Moorings so far in 2015. 3305 South Moorings Way was a waterfront estate with 12,702 square feet of living area located on a 21,765 square foot lot. This home sold for $8,650,000 or $680.00/square foot. The last waterfront sale in The Moorings was back in 2011 – this home was located at 3333 South Moorings Way and closed for $2,850,000 or $518.00/square foot.
There is currently 1 home under contract in The Moorings. This property is located at 3505 South Moorings Way and offers 9,481 square feet of living area on a 25,000 square foot lot. The list price is $5,900,000.
With just 7 homes currently on the market in The Moorings, it is not surprising that sales have been slow. Another factor that has affected the market in here has been the slowdown in $2,000,000+ home sales throughout Coconut Grove. The good news is that I expect things to pick up over the next few months because we will see an influx of out of town buyers coming to South Florida.