Not surprisingly, the two foreclosures that came on the market in The Cloisters are already under contract and accepting back-up offers. Although they were partially completed and needed some TLC, at $1,295,000 they were a great deal.
Foreclosures properties in Coconut Grove are extremely rare these days and get snapped up within hours of hitting the market. If you are looking for a foreclosure deal in Coconut Grove then you better have cash in hand and be prepared to make a full price offer!
To give you an idea of what the market is like in The Cloisters, there have been two other units sold this year. My listing, Unit #1238 closed for $1,795,000. And Unit 307 also sold this year which closed for $1,625,000. There are currently 4 for sale in the community, they are priced between $1,900,000 and $2,195,000.
I am a Coconut Grove real estate specialist. Over the past 4 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.