New construction townhouses are popping up all over the West and Center Grove and I think many people are shocked by some of the prices that developers are getting on these units. Although values depend on location, finishes, and size, we have seen sales as high as $940,000. The average “sale price per square foot” for new construction townhouses is running approximately $300/sq. ft.
I believe that high prices in the single-family home market are really driving this segment. It is hard to find a turn-key ready home in the Grove for under $1,000,000 right now. Also, the West and Center Grove are within walking distance to Coconut Grove’s shops, restaurants, children & dog park as well as Coconut Grove Elementary School. With the amount of traffic that we have in Miami, many buyers are opting for a more urban style of living which is exactly what the Center Grove offers its residents.
Check out the spreadsheet below of new construction townhouse sales in West and Center Coconut Grove. If you are unable to view the spreadsheet below, click here.