Homes With Large Lot Sizes In Coconut Grove Are Scarce, Sell At A Premium
When a buyer tells me that they are looking for a home on a large lot in Coconut Grove they are often surprised when I tell them that the price tag starts at a minimum of $1,000,000 for a property with 20,000 square feet or more of land. This is not the case in other areas of Miami. If you go down to Pinecrest you will easily find a home situated on a large piece of land for well under $1,000,000. But due to Coconut Grove’s proximity to downtown Miami coupled with our high demand and limited supply, homes on large lots in the Grove sell for a premium.
The average lot size of all single family homes in North Coconut Grove is roughly 9,000 square feet while the average lot size in South Coconut Grove is roughly 11,000 square feet.
Of the 111 single family homes currently for sale in Coconut Grove there are only 17 homes (15% of our active listings) with more than 20,000 square feet of land. Compare that with Pinecrest which has 98 homes (80% of their active listings) with more than 20,000 square feet of land.
I am a Coconut Grove real estate specialist. Over the past 3 years, I have earned the distinction of selling the most number of homes in Coconut Grove. If you would like to schedule a buyer or seller meeting with me, please feel free to call me directly at 305-342-1623 or send me a note here.
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