There have been 29 single family homes sales in Coconut Grove since January 1st of this year. These sales have come in at an average “Sale Price/Square Foot” of $450.00 which is exactly where they were selling last year. This is great news and is evidence of a stable market. We have also seen sales in certain segments pick up over the last few months which is a refreshing change from the last quarter of 2016.

A breakdown of the 2017 sales are as follows:

• 0 – $999,999: 13 homes sold
• $1,000,000 – $1,999,999: 9 homes sold
• $2,000,000 – $2,999,999: 5 homes sold
• $3,000,000 – $3,999,999: 1 home sold
• $4,000,000+: 1 home sold

The top 5 “Sale Price/Square Foot” figures for 2017 are below:

• 3505 Crystal View Court | Sale Price: $989,000 | Sale Price/Square Foot: $666.00
• 3763 Douglas Road | Sale Price: $1,593,750 | Sale Price/Square Foot: $613.00
• 2315 Swanson Avenue | Sale Price: $615,000 | Sale Price/Square Foot: $585.00
• 4180 Douglas Road | Sale Price: $882,000 | Sale Price/Square Foot: $554.00
• 3865 Poinciana Avenue | Sale Price: $855,000 | Sale Price/Square Foot: $541.00

If you are curious about how these sales impact your home’s value, contact us today for a no pressure home consultation!

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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 wanted to keep my blog readers informed about a recent sale that occurred off-market (not on the MLS) in Coconut Grove. The house at 3000 Natoma Street was listed for sale last year for a price of $2,350,000 however the owners took it off the market in September and decided to list it for lease for $10,500/month instead. The property ended up selling while it was listed for lease at a price of $2,300,000. This was a landmark property built in the 1930’s, surrounded by a beautiful coral rock wall on a spectacular 19,500 square foot lot. It had impact windows, a chefs kitchen, over-sized master bedroom, 2 fireplaces, guest house, 2 car garage and 6 car motor court.  Congratulations to The Nancy Batchelor team of EWM who represented the seller on this transaction.

Related News…..

Another similar early 1900’s well-restored home located at 3670 Hibiscus Street has recently gone under contract. This was a 4,592 square foot house on a 19,600 square foot lot. The list price was $2,999,988 at the time it went pending. I will keep you updated on the final price as soon as it closes. As a native Grovite, I am happy to see that there is still a demand for older homes in Coconut Grove. These properties help maintain our community’s character and charm.

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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.

Although Grove Isle was built in the late 70’s, its unique location and incredible amenities make it very sought after among buyers. This has remained true despite the multitude of newer condo buildings that have been built over the past few years. In fact, Grove Isle has already had more sales in Coconut Grove this year than all of the other major Grove condo buildings combined (Yacht Harbour, Grovenor House, Grove Tower have had zero sales to date).

Last year, there were 22 sales in Grove Isle which came in at an average “Sale Price/Square Foot” of $427.00.

Recent sales at Grove Isle include:

1. 1 Grove Isle Drive #A1508 | 2 bedrooms, 2 baths | 1,642 sq. ft. LA | Sale Price: $795,000 The Riley Smith Group represented the buyer in this transaction!
2. 1 Grove Isle Drive #A1706 | 2 bedrooms, 2 baths | 1,642 sq. ft. LA | Sale Price: $770,000
3. 1 Grove Isle Drive #A1507 | 2 bedrooms, 2 baths | 1,882 sq. ft LA | Sale Price: $707,130
4. 3 Grove Isle Drive #C907 | 2 bedrooms, 3 baths | 1,882 sq. ft. LA Sale Price: $600,000

Things are only slated to get better at this one of a kind condo community. There are plans in the works for a 4th tower (sales should be launched in the coming days/weeks) and the Grove Isle Club is getting a complete overhaul. In my opinion, you can’t go wrong by investing at Grove Isle, it is a completely unique location that can never be duplicated and values have proven steady over the years despite fluctuations in the rest of the market.

View all condos for sale in Grove Isle here.

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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.

Arbor In Coconut Grove | Prices Start At $799,000

I like a trend that I am seeing right now in Coconut Grove which is a push by developers to build more affordable homes. Average prices in the Grove have crept up higher and higher reaching an average of $1,402,528 in 2017. Even the townhouse market which used to be a good alternative for buyers who couldn’t afford a single family home has risen drastically over the past few years, some selling as high as $1,000,000. Despite those figures, the segment of the market with the highest demand is definitely in the $1,000,000 and below price point. The reason that we don’t see more homes selling below $1,000,000 is simply due to a lack of supply.

The good news? Just this week, a new boutique condo building was launched in Coconut Grove where prices will begin at $799,000. “Arbor” is located north of Cocowalk at 3084 Oak Avenue and will be a 5 story building with 52 units. Although the starting price of $799,000 isn’t cheap (especially considering the median home value in Miami-Dade County is $267,000), whether we like it or not it is the entry-level price point for Coconut Grove. I am glad to see developers are recognizing the demand for properties such as this and look forward to selling them to my clients!

Unit Mix: 2–3 bedrooms residences
Square Footage: 1,466–2,010 SQ FT
Residence Features:

• 10-foot ceilings
• PH residences with private terraces
• Two-story lofts
• Townhomes with over 20-foot ceilings & private gardens
• Floor to ceiling windows

Features & Amenities:

• Concierge
• Ample parking and storage
• Fitness center
• Lush courtyard pool
• Social lounge
• Rooftop terrace
• Pet friendly

Sales have already begun at Arbor in Coconut Grove, if you would like more information on this project please contact me today at 305-342-1623 or fill out our contact form here!

Having trouble viewing the video? Click here to watch.

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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.

If you are tired of fighting the traffic and circling the streets looking for parking in Coconut Grove, then you will love our new listing at 3120 Day Avenue which is located just steps from the center of town. With a Walk Score of 93, this townhouse earns the title of a “Walker’s Paradise” which, according to the website, means that most of your errands can be accomplished without a car. As you can see from the map above, it is just a few blocks away from bayfront parks, restaurants, grocery stores, schools and much more!

Not only is it a fantastic location, 3120 Day Avenue stands apart from other townhouses because it has been updated with features that you won’t find in similar properties. These unique details include a glass folding wall, motorized screen covering the outdoor terrace, gas range in the over-sized kitchen, salt-water pool and glass enclosed office.

Property Details:

• 3 Bedrooms + Office, 2.5 Bathrooms
• 2,701 Square Feet Of Living Space
• View more photos and information here.
• Offered At: $895,000

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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 were honored to be featured in The Miami Herald over the weekend among EWM Realty International’s 2016 Top Producers. I am very proud of our team which ranked #3 out of 930 agents for total volume sold, and #1 for most number of transactions sold. We couldn’t have achieved such success without the hard-work and dedication of each one of our team members.

We continue to be the leader in Coconut Grove real estate, and have sold the most number of homes here for the past 8 years.

Looking forward to many more years of serving our community with a superior level of market knowledge and customer service.

If you are interested in buying or selling a home and would like to work with The Riley Smith Group, please contact us at 305-342-1623 or send us a message here: [email protected]

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.

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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

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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!).

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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.

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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.