Courtesy of Ocean Drive Magazine

This week Ocean Drive magazine featured the spectacular Grove at Grand Bay penthouse of Artefacto’s Paulo Bacchi which is listed for sale at $12,500,000. Paulo Bacchi is President of US Operations for Artefacto, a Brazilian furniture company known for its unique and “warm contemporary” designs. Bacchi has done an incredible job designing the interior of this 5,552 square foot palace in the sky. He used natural palettes and lots of mirrors to reflect the light and view from every angle.

I recently had the pleasure of touring this residence with a client and can attest to the fact that it is absolutely jaw-dropping, and one-of-a-kind.

Courtesy of Ocean Drive Magazine

Courtesy of Ocean Drive Magazine

Grove at Grand Bay is one of Coconut Grove’s newest luxury condo projects, with closings that began to occur in the late summer of 2016. Designed by starchitect Bjarke Ingels, the twisting towers are situated on 3 acres of prime waterfront land overlooking Biscayne Bay. Units range from 1,300 square feet to 10,000 square feet. View all “Grove at Grand Bay” condos for sale here.

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

One of the things that I love about my job, and particularly about working in Coconut Grove, is that I never know what type of home I will be listing or selling next. It could be a Key West style cottage, a spectacular modern new construction or a historic De Garmo estate. Today I would like to introduce you to one of the most unique and eclectic homes that you will ever find on the market in Coconut Grove. As you step onto the grounds of my listing at 3773 Matheson Avenue you are immediately surrounded by lush tropical landscaping with waterfalls, koi ponds and winding pathways. This home gives you the best of both worlds because it has the character and charm of an older home, but has been meticulously restored and renovated with impact glass, generator and new electrical. There are two master suites (1 upstairs and 1 downstairs) as well as separate guest quarters. There is a surprise at every turn including an underground wine cave with a window into the pool, and Tuscan inspired kitchen. In addition to the many special features, 3773 Matheson Avenue has historical significance as well, it was the original home of the architect of Vizcaya and was later owned by the founder of Joe’s Stone Crabs.

This home is perfect for a buyer who wants to live a Grove inspired lifestyle and truly take advantage of the tropical paradise that we live in.

Details of 3773 Matheson Avenue, Coconut Grove:

• 4 Bedrooms, 4 Full Baths
• 3,630 Square Feet Of Living Space
• 10,500 Square Foot Lot
• More Photos And Information Here
• List Price: $2,300,000

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

There are several types of homes where I believe staging can be extremely effective. First, is when the home is new construction. Due to the open spaces and high ceilings that you find in these properties, buyers sometimes have a hard time envisioning how and where to arrange their furniture. The second scenario is when the house is older and empty. In older homes, the spaces are typically well defined so buyers don’t need help figuring out where to put the dining room table or the living room couch. However, when there is no furniture in these homes it is easier to focus on the flaws of the property such as dark rooms, scratched floors, low ceilings etc. The last type of property that needs staged is one that has very large, heavy furniture which can be overwhelming and difficult to see past. A good stager will find the right furniture to make the living areas feel spacious and comfortable.

Check out the before and after photos of our new construction listing at 4070 Woodridge Road in South Coconut Grove (recently repriced at $2,295,000, view more photos here!).

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

There are many different ways to look at real estate data and market statistics. One of my favorite reports is the break down of active listings, pending and closed sales by price point. I think its important to keep an eye on the shifts between supply and demand by segment. As you can see from this week’s charts below, there is far more inventory in the $1,000,000+ price point than the below $1,000,0000 price point. However, the $1,000,0000 and below segment is where we have the most pending sales (which is where the demand is). Closed sales have been relatively quiet over the past 2 weeks with just 4 total single-family transactions in Coconut Grove.

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

There have been a few Center Grove townhouses sold so far in 2017 which is providing us with a good idea on where values are headed in this market over the next few months. The numbers show that townhouses built between 2000 and 2010 will garner well over $300/square foot. The newer and more updated townhouses on good streets will see prices closer to $350/square foot. Check out the recent sales below:

1. 2926 Virginia Street | Just Sold By The Riley Smith Group | Built in 2001 | 3 bedrooms, 2.5 baths | 2,170 square feet of living area | Sale Price: $697,000 | Sale Price/Square Foot: $321.00
2. 3069 Gifford Lane | Built in 2006 | 3 bedrooms, 2 baths | 2,221 square feet of living area | Sale Price: $765,000 | Sale Price/Square Foot: $344.00
3. 3225 Gifford Lane | Built in 2006 | 3 bedrooms, 2.5 baths | 1,719 square feet of living area | Sale Price: $575,000 | Sale Price/Square Foot: $334.00

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

I like to keep my blog readers appraised of any sales that have an impact on property values. This week, the home at 3865 Poinciana Avenue closed for $855,000 which is $541.00/square foot. This is a great comparable for homes in the South Grove priced under $1,000,000.

Details of 3865 Poinciana Avenue:

• 3 bedrooms, 2 baths
• 1,578 square feet of living area
• 6,008 square foot lot
• No Pool
• Built in 1959

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

We have just completed the professional photos of our new listing located at 3894 Main Highway. It will be hitting the market in the next few days but I wanted to give my blog readers the first look. Situated on the corner of Bougainvillea Road and Main Highway in the South Grove, this charming home is completely turn-key ready with a renovated kitchen and baths, new roof, impact windows, a covered terrace perfect for entertaining and features 3 bedrooms, 2 baths. We will be listing the home under $1,000,000, contact us at 305-342-1623 for exact price and more details.

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

Right now there are 6 homes in Coconut Grove that are non-waterfront and priced over $5,000,000.  Sellers asking these kind of prices for non-waterfront homes is a relatively new trend in the Grove. There are some markets which have commanded such high prices for non-waterfront homes but it will be interesting to see if these numbers hold up in the Grove. There has not been a non-waterfront home sold over $5,000,000 in Coconut Grove’s history.

The Top 3 Highest Priced Non-Waterfront Homes For Sale In Coconut Grove:

1. 4100 Kiaora Street | List Price: $11,900,000 | 6 bedrooms, 7 baths | 9,323 square feet of living area | 47,705 square foot lot
2. 4020 Kiaora Street | List Price: $10,900,000 | 8 bedrooms, 9 baths | 11,611 square feet of living area | 36,652 square foot lot
3. 1641 South Bayshore Drive | List Price: $9,750,000 | 6 bedrooms, 6 baths | 9,165 square feet of living area | 30,375 square foot lot

The Top 3 Highest Priced Non-Waterfront Sales (all-time) In Coconut Grove:

1. 3505 South Moorings Way | Sale Price: $4,770,000 | 7 bedrooms, 7 baths | 9,481 square feet of living area | 25,000 square foot lot | Closing date: 2/16/16
2. 3410 Poinciana Avenue | Sale Price: $4,500,000 | 8 bedrooms, 7 baths | 11,243 square feet of living area | 35,561 square foot lot | Closing date: 12/7/15
3. 3843 Little Avenue | Sale Price: $4,225,000 | 5 bedrooms, 7 baths | 8,488 square feet of living area | 26,500 square foot lot | Closing date: 6/12/14

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

Our office has sensed a definite shift in the Coconut Grove real estate market since January 1st. We have been going non-stop with showing requests for our properties, negotiating deals, buyers meetings and listing appointments. I believe that everyone who was sitting on the sidelines in 2016 has finally decided that it’s time to make a move.  In addition, there have been 22 new single-family listings to come on the market over the past 20 days which has helped re-ignite interest in buyers.

We recently listed the property at 3645 Battersea Road in South Coconut Grove and placed it under contract just 5 days later. This was a turn-key ready home that offered 3 bedrooms, 3 baths (+ den), pool, 2,787 square feet of living area on a 10,500 square foot lot. The home was listed for $1,425,000.  This is the perfect example of the type of property that is moving quickly in today’s market – it was move-in ready, had a pool, impact windows and was listed under $1,500,000.

There have been 8 single-family homes to go under contract so far in January, I would love to see that momentum continue through the rest of the winter.

Click here to view all homes for sale in Coconut Grove, data is updated in real-time!

_____________________________________

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

Last week we were honored to receive the award for “Small Business Of The Year” by the Coconut Grove Chamber Of Commerce at the Annual Golden Coconut Awards.  I am thankful to be surrounded by such a wonderful team of staff and agents who work tirelessly every day to deliver excellent results and customer service. We are proud to be a part of this incredible community and look forward to helping the residents of Coconut Grove with their real estate needs for many years to come.