My Predictions For Coconut Grove Real Estate In 2015
Before I post the year-end figures for 2014 I am waiting on the last few sales to be recorded on the MLS. From the preliminary numbers, it appears that Coconut Grove will have roughly the same amount of dollar volume sold but fewer homes sold than we experienced in 2013. How can that be? Although the number of sales are down, the average price of homes increased dramatically in 2014 from the previous year. It will be interesting to see how the market changes or stays the same in 2015 as we continue to suffer from low inventory levels and high demand.
Here are a few of my predictions for 2015:
- I believe that we will see prices stabilize this year. This will be good for the market and help calm buyers who are nervous about pulling the trigger due to drastically rising values.
- Townhouses will have strong sales. The high price of single family homes will continue to steer buyers towards the Center Grove townhouse market where you can get more square footage for your money.
- Many more new construction homes will hit the market. There are over 25 new construction homes going up that will be completed this year in Coconut Grove (I have the inside track on many of these properties, if you are interested in purchasing a pre-construction home please contact me at 305-342-1623.)
If you are looking for a Realtor in Coconut Grove to assist you with your real estate needs, please contact us for a no pressure consultation. We can be reached anytime at 305-342-1623 or by filling out a contact form here.