The Coconut Grove condo market continues to thrive in 2015 and most buildings have seen a rise in the average “sale price/square foot” since last year. The largest increase in value has been at The Grovenor House where prices rose from $816.00/square foot in 2014 to $882.00 in 2015. Some other interesting figures this year are the large number of units for sale at Yacht Harbor and Grove Isle. These buildings typically see anywhere from 1-10 units on the market, but both have plenty of inventory with 9 condos for sale at Yacht Harbour and 16 condos for sale at Grove Isle.
Grove Hill remains one of the least active condo buildings in the Grove, but simply because of lack of inventory. Units rarely come on the market here and residents love the building so much that turnover is extremely low.
Condos will always be in high demand in Coconut Grove because we have so many part-time residents who want to live here. These buyers want the added security that a condo has to offer and the ability to lock up their units and go.
Check out the charts below which offer a concise recap of the Coconut Grove condo market in 2015:
We have been the #1 Top Producing Realtors in Coconut Grove for over 5 years, and know the market inside and out. If you are interested in buying or selling real estate in Coconut Grove, please contact us at 305-342-1623 or send us a message here.