Our team has noticed an increase in activity in the townhouse market since the start of 2017. Across the board, we have seen more buyers who are wanting to purchase in this segment of the market. Many of these buyers have turned to townhouses because they realize that they can get more for their money in the Center Grove. For roughly the same price as a small single-family home that needs major renovation you can find a modern turn-key ready townhouse with 2,000+ square feet of living area. For most people, the choice is a no-brainer.

Over the past 90 days there have been 13 closed townhouse sales in the Center Grove which have come in at an average “Sale Price/Square Foot” of $321.00 (newer construction townhouses are selling even higher).

Below is one of our recent townhouse sales in the Center Grove. 3036 Allamanda Street offered 3 bedrooms, 2.5 baths with 2,354 square feet of living area and sold for $750,000. Congratulations to our buyers on their beautiful new home!

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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.

Imagine a home where every day feels like you are on vacation, where every inch has been carefully designed and one that respects the environment with its selection of materials and finishes. These are the qualities of our new Zen Treehouse listed for sale in North Coconut Grove. As you step inside 2836 Crystal Court, you will feel as if you have been whisked away to a luxurious retreat far from the hustle and bustle of Miami.

A Sanctuary In The Trees

Set amid a lush tropical garden, 2836 Crystal Court features walls of sliding glass doors and expansive terraces which create a seamless blending of interior and exterior spaces. This is the perfect home for a buyer who wants to live a Grove inspired lifestyle and take advantage of the paradise that we live in.

Living Quarters

The home offers 4,359 square feet of living area with 5 bedrooms and 5 1/2 baths. The spectacular master bedroom features a sitting room which overlooks the pool with waterfall, an adjacent office/exercise studio, spa-like bath with Italian soaking tub, his/hers walk-in closets and dressing room with make-up counter. The chef’s kitchen has top of the line appliances with a Sub Zero refrigerator/freezer, Miele over/microwave speed oven and dishwasher, Sub-Zero wine cooler, Wolf gas cook-top, imported Italian kitchen cabinetry, thick Italian marble counter-tops and a walk-in pantry. No detail has been overlooked!

Additional Details:

• Covered patio with outdoor kitchen including BBQ grill, refrigerator and sink
• Romantic gas fire pit with built-in seating
• 12 foot ceilings, with 12 ft. floor to glass doors
• Hurricane proof, laminated glass doors and windows
• Smart Home automation, including security alarm system
• Security cameras
• Architects: Charles Treister and Gabriel Lopez
• Developed by: Charles Treister and Andrew Rasken

Specifics Of 2836 Crystal Court, Coconut Grove:

• 5 Bedrooms, 5 Full Baths, 1 Half Bath
• 4,359 Square Feet Of Living Area
• Offered at $2,999,000

If you would like to arrange a showing of the Zen Treehouse, please contact our office at 305-960-5318 or call me directly at 305-342-1623.

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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.

Exciting news today, the spectacular Coconut Grove waterfront home located at 3575 Stewart Avenue in the gated community of Entrada Estates has just closed for $12,400,000. This is one of the top 10 highest sale prices on record in Coconut Grove. Prior to this, the most recent luxury home sale in the Grove occurred at 3551 Main Highway which closed for $34,600,000 (it was a 7 acre property and sold to Ransom Everglades High School).

I have been following 3575 Stewart Avenue for quite some time here on the blog.  It was one of the largest homes on the market in all of Miami with 14,097 square feet of living area. The property is unique because it has 200 feet of protected boat dockage on a canal PLUS 220 feet of water frontage on the bay. It originally hit the market back in 2009 at a list price of $18,000,000. Here are a few of the blog posts I have written over the years about this property:

• August 4, 2014: What Is The Most Expensive Home For Sale In Coconut Grove?
• February 18, 2011: Ultra-Luxury Homes For Sale In Coconut Grove
• June 15, 2010: Beat The Heat In Coconut Grove’s Coolest Pools
• January 28, 2010: What Does $18,000,000 Buy You In Coconut Grove?

The sellers purchased the home for $6,631,500 in 2005.

Chad Carroll of Douglas Elliman was the listing agent on the property.

View current ultra-luxury homes still on the market in Coconut Grove:

1. 1641 South Bayshore Drive | 9,165 square feet of living area | 30,375 square foot lot | 6 bedrooms, 6.5 baths | Offered at: $10,250,000 | Photos Here
2. 4020 Kiaora Street | 11,611 square feet of living area | 36,652 square foot lot | 8 bedrooms, 9.5 baths | Offered at: $10,900,000 | Photos Here
3. 4100 Kiaora Street | 9,323 square feet of living area | 47,705 square foot lot | 6 bedrooms, 7.5 baths | Offered at: $11,900,000 | Photos Here
4. 3085 Munroe Drive | 13,483 square feet of living area | 41,125 square foot lot | 7 bedrooms, 8.5 baths | Offered at: $43,000,000 | 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.

The real estate market in South Florida has fluctuated significantly over the past 6-12 months. Between the recent presidential election, strong dollar, and Zika virus we have seen periods of high demand and low demand. With so many changes in such a short period of time, it is extremely important for sellers to be aware of what is happening in the market and price their home appropriately.

Here is a great article from The Real Deal which talks about the “new normal” in residential real estate.

Read The Real Deal’s article here: Residential’s Rough Ride

A few good quotes from the article:

“The listing price has become the key selling point, regardless of a particular property’s location”

“Big price reductions are almost passe, bring the price to where you want to sell it”

“There is more inventory in the multi-million dollar market than ever before”

“Obviously everyone thinks their house is the Taj Mahal and they’re sitting on a gold mine.”

I’ve certainly come across a few of those in my career!

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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 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]