Coconut Grove State Of The Market

Coconut Grove Real Estate

Fall is here and if you live in Miami you have definitely noticed a change in the air! The new season also means that we have entered the 4th quarter of 2016. I wanted to give you an update on where the market stands as we begin to close out the year. So far to date there have been approximately 90 single family home sales. These have sold at an average of $459.00/square foot.  Additional 2016 sales include 120 condos, 80 townhouses/villas, and 19 land sales.  Although prices have remained steady since 2015, the Grove is on track to have far fewer sales and less overall volume in 2016.

After speaking with other top agents in town, we believe the unusual slowdown is due to the fact that people are completely consumed and captivated by the Presidential election and are nervous with the uncertainty of the future. I believe that whatever the outcome is, after November 8th things will certainly pick up and we will have a strong start to 2017.

For those of you who are monitoring the market, check out the recent sales in Coconut Grove below:

  • 2475 South Bayshore Drive #7 | Longview | 4 Bedrooms, 4 Baths | 3,799 Sq. Ft. LA | 5,700 Sq. Ft. Lot | Sale Price: $1,650,000
  • 3679 Frantz Road | 7 Bedrooms, 5.5 Baths | 4,987 Sq. Ft. LA | 9,600 Sq. Ft. Lot | Sale Price: $1,780,000
  • 2627 S. Bayshore Drive, 1105 | The Grovenor House | 2 Bedrooms, 2.5 Baths | 1,756 Sq. Ft. LA | Sale Price: $1,590,000
  • 2627 S. Bayshore Drive, 905 | The Grovenor House | 2 Bedrooms, 2.5 Baths | 1,756 Sq. Ft. LA | Sale Price: $1,553,000
  • 3900 Loquat Avenue | 3 Bedrooms, 3 Baths | 1,917 Sq. Ft. LA | 21,450 Sq. Ft. Lot | Sale Price: $1,250,000
  • 219 South Shore Drive | 4 Bedrooms, 3 Baths | 2,901 Sq. Ft. LA | 10,086 Sq. Ft. Lot | Sale Price: $1,310,000
  • 178 South Shore Drive | 4 Bedrooms, 3 Baths | 2,646 Sq. Ft. LA | 9,000 Sq. Ft. Lot | Sale Price: $1,140,000
  • 3167 Gifford Lane | Townhouse | 3 Bedrooms, 4 Baths | 2,491 Sq. Ft. LA | Sale Price: $963,000
  • 2970 Day Avenue | Peppertree Village – Townhouse | 2 Bedrooms, 2.5 Baths | 1,275 Sq. Ft. LA | Sale Price: $470,000
  • 3119 Mary Street #4 | Grove Cove | 3 Bedrooms, 2.5 Baths | 1,470 Sq. Ft. LA | Sale Price: $479,550

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Riley Smith has been the #1 Top Producing Coconut Grove Realtor 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.
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