Pending Home Sales In Coconut Grove
Not surprisingly, real estate was the topic of conversation among family and friends over Thanksgiving. Everyone wants to know how the market is doing and where it is headed. The recent numbers show that inventory levels are on the rise in Coconut Grove and across South Florida. If the trend continues, it means that the market may become more balanced during 2014 as opposed to the strong seller’s market we experienced during 2013.
A good way to predict where values will fall in the near future is to look at the pending sales. Right now there are 21 single family homes pending in the North Grove which have an average list price/square foot of $385.00. There are 13 pending single family homes in the South Grove which have an average list price/square foot of $407.00. With homes selling at approximately 95% of their list price, it seems that for now values are still on an upward trend in Coconut Grove.
I received 2 calls over the weekend from residents of Coconut Grove who wanted a value analysis performed on their home. Although they are not considering selling at this moment, I am happy to provide them with the latest figures and data to help them understand what their home is worth in this rapidly changing market.
If you would like to work with a realtor who specializes in Coconut Grove real estate, call today for a buyer or seller consultation. With over 140 home sales in Coconut Grove since 2010, we know the market here inside and out! Send us a message here.
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