Yikes! This Coconut Grove Home Took 8 Years To Sell
I have been watching the progress of 2454 Tigertail Avenue ever since it hit the market back in 2006 for $2,250,000. The home was built in 2004 and offered 4,985 square feet of living space on a 7,500 square foot lot with 5 bedrooms, 5.5 baths. This was an extremely optimistic list price even back then. Over the next few years the owners had some price increases (up to $2,500,000) and price decreases, and even rented the property out for $9,000 per month for a short period of time. But I am happy to report that they finally closed on their home on October 31st for $1,450,000 ($290.00/sq. ft.).
This is the ultimate example of why you need to price your house correctly from the beginning. After 8 years on the market, these sellers sold for $800,000 less than their initial list price. The house sat on the market for all those years and got stale in buyer’s eyes. If they had priced it at $1,450,000 back in 2006 they would have sold it quickly.
Listing broker at the time of sale was Berkshire Hathway Realty.
As the #1 Top Producing Realtor in Coconut Grove for over 5 years, I know the market inside and out. If you are interested in buying or selling a home in Coconut Grove and would like to set up a no pressure consultation, please contact me on my cell at 305-342-1623 anytime.