2009 vs. 2010: The Coconut Grove Townhouse Market
The inventory numbers look good for Center Coconut Grove’s townhouse market with a 40% drop in the number of properties for sale since March of 2009. This is great news for sellers who were faced with steep competition last year.
Other interesting news is that the List Price to Sale Price ratio has come back up to 94% from 82% last year. This could mean one of two things: (1) that the sellers are getting 12% more in 2010 or (2) that the sellers are more realistic with their prices (more likely).
|March, 2009||March, 2010|
|Number Of Center Grove Townhouses On The Market:||110||67|
|Sale Price to List Price Ratio:||82%||94%|
Other good news for sellers is that the we have seen an increase in the “Sale Price/Square Foot” figures so far in 2010. In 2009 townhouses in Center Grove were selling at an average “Sale Price/Square Foot” of $182.00. So far this year with 11 sales we have an average “Sale Price/Square Foot” of $207.00.
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If you are interested in buying or selling real estate in Coconut Grove and are looking for a Grove specialist, please contact me at 305.342.1623 or send me a note here.