It’s About Time…Values At Grove Towers Are On The Rise
For as long as I can remember, Grove Towers has traded at prices slightly below the other major condo buildings in Coconut Grove. Values have typically ranged from $300 – $400 per square foot. But I am happy to report that over the past year prices in the building have been rising at a fast pace. Check out the chart I created below which shows the trend since 2010.
As you can see in 2015 there was a sharp increase to $549.00/square foot (8 closed sales). So far this year the average is coming in even higher at $725.00/square foot (2 closed sales).
At these prices, Grove Towers is now selling on par with some of the other major condo buildings in Coconut Grove. The great thing about this building is that the views will never be obstructed, they are guaranteed water views for life. They also have very large terraces, some with 800 square feet of outdoor space. It is also just steps from the great shops and restaurants in Coconut Grove’s village center.
Reach out to us today to schedule a private tour of this building!
The Riley Smith Group has been the #1 Top Producing team in Coconut Grove for over 7 years and knows 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.