Coconut Grove Townhouse Market Needs Inventory

Inventory levels are down significantly in the Center Grove townhouse market and there are very few distressed properties for sale (just 5 short sales and 0 foreclosures).   If we continue to see these kind of numbers going forward, it will almost certainly result in an increase in property values.  For now, the result is that we see major activity on any new townhouse listing that hits the market.  I had some buyers last weekend who put in an offer on a townhouse just days after it came on the MLS because they knew if they waited they would lose out on the chance to buy it.

In the past 30 days, there have been approximately 6 townhouses sold and 9 placed under contract in the Center Grove.

I am a Coconut Grove real estate specialist. In 2010 and 2011 I earned the distinction of selling the most number of homes in Coconut Grove. If you would like to schedule a buyer or seller consultation with me, please feel free to contact me on my cell at 305-342-1623.

To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a followup email.