Coconut Grove Numbers Don’t Tell The Whole Story
Although tracking the numbers is crucial to understanding the market, nothing compares to being out in the field every day talking to other Realtors, as well as my own buyers and sellers because sometimes the numbers don’t tell the whole story.
The charts above show the price distribution of homes For Sale and Sold in Coconut Grove. At first glance it appears that our supply (homes for sale) is perfectly in line with our demand (homes sold).
However, by taking a look at my own buyers and in talking with other Realtors day in and day out, I know that there is significantly more demand for homes under $1 million in Coconut Grove as opposed to over $1 million which the chart shows. The demand for this price range is also evident by the higher number of showing requests we get for our listings under $1 million as opposed to those that are over $1 million.
So you might be asking yourself why the second chart shows a higher demand for over $1 million homes? The reason is because there is more inventory in this segment. If there were more homes listed for sale under $1 million, then I believe we would certainly see a higher number of sales in that price range.
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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