Demand Remains High For Townhouses In Coconut Grove
Townhouses in Coconut Grove have continued to experience an overall increase in value over the past 6 months. While demand for townhouses is high, there is a lack of supply right now in the market. These conditions are creating a frenzy whenever one hits the market that is in good condition and priced well. What are buyers looking for? The number one item on most buyer’s wish list today is that the townhouse be finished in a modern style. We are also seeing a lot of empty-nesters who are looking for 1 story townhouses. These are becoming extinct due to redevelopment in the Center Grove.
Townhouses are a great option for buyers who have been priced out of the single family home market.. While it can be virtually impossible to find a turn-key ready single family home with 3 beds, 2.5 baths for under $1 million, you can easily find these qualities in a newer construction townhouse in the Center Grove.
Below are some notable townhouse sales we have seen over the past 6 months:
Center Coconut Grove Townhouse Sales
- 3134 Gifford Lane (new construction) | Sale Price: $940,000 | $308/square foot
- 3167 Gifford Lane (new construction) | Sale Price: $919,000 | $335/square foot
- 3069 Orange Street (built in 2014) | Sale Price: $825,000 | $212/square foot
- 3130 Day Avenue (built in 2002) | Sale Price: $756,000 | $319/square foot
- 2945 Bridgeport Avenue | Sale Price: $420,000 | $401/square foot
- 3227 Mary Street | Sale Price: $515,000 | $381/square foot
West Coconut Grove Townhouse Sales
- 3173 Elizabeth Street | Sale Price: $759,000 | $308/square foot
- 3243 Percival Avenue | Sale Price: $689,000 | $265/square foot
- 3059 Indiana Street | Sale Price: $680,000 | $289/square foot
- 3310 Bird Avenue (103) | Sale Price: $417,500 | $353/square foot
Pocket Listing Alert! The Riley Smith Group has several new construction townhouses coming on the market in the next few weeks. If you are interested and would like more details, please contact our team member Jessica Adams at 305-677-0212.
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.