Values Soar At Grovenor House, Inventory Plummets
Condo owners at The Grovenor House have a lot to celebrate this holiday season, they have seen values rise in the building by nearly 48% since 2010. Despite all of the fancy condo buildings going up throughout the rest of Miami, The Grovenor House in Coconut Grove (built in 2006) continues to be in high demand. Why? It is all about location. The spectacular waterfront address situated in the heart of our vibrant village is something that can’t be replicated anywhere else. Another factor which has influenced values has been a lack of condos for sale in the building – only 5 active listings on the market today. With low inventory levels, buyers who want to live there have been forced to pay higher prices.
Other condo buildings in Coconut Grove have seen an increase in value but not to this extent. For example, Grove Isle values have risen by 19% since 2010, and Grove Hill values have risen by 39% since 2010.
The Grovenor House is a luxury condo building with 166 units and great amenities including an expansive pool, tennis courts, playground, fitness center, spa facilities and recreational lounge.
Stay tuned to the The Real Estate Coconut for the latest news, information and statistics on the Coconut Grove real estate market!
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