Activity Slow For Waterfront Homes In Coconut Grove

Fairhaven-61

Real estate activity for waterfront homes in Coconut Grove has been extremely slow over the past 6 months with just 1 closed sale (this was Lebron James’ former house which closed for $13,400,000).  Low inventory levels and a stagnant luxury market have played a key factor in the slower sales of waterfront homes.

The spreadsheet below shows the active inventory in Coconut Grove. Considering that prices start at $605.00/square foot, I believe that there are some great opportunities right now in this segment of the market (the average “sale price/square foot” for all homes sold in Coconut Grove during 2015 was $480.00).

Waterfront Spreadsheet 2

I have two great waterfront listings for sale right now in Coconut Grove, 1835 Fairhaven Place (photos and information here) is a new, modern home in the North Grove listed for $3,999,000 and 2120 South Bayshore Drive (photos and information here) which is currently the least expensive waterfront home on the market listed for $2,500,000.

We have been the #1 Top Producing Realtors in Coconut Grove for 7 years, and know the market inside and out. If you would like to buy or sell real estate in Coconut Grove, please contact us at 305-342-1623 or send us a message here.