The first foreclosure sold in 2015 was located at 4191 Ingraham Highway in South Coconut Grove, see photos above. The home was built in 2005 and offered 4 bedrooms, 5.5 baths with 3,786 square feet of living space on a 8,635 square foot lot. It came on the market as a foreclosure for $1,445,000 in October of 2014 and closed for $1,249,500 or $330.00/square foot. Over the past few years the home was rented for $6,500 per month. Listing agent was Allisson James Estates and Homes.
The second foreclosure sold this year was located at 4086 El Prado Boulevard, also in South Coconut Grove. The home came on the market in November of 2014 for $1,080,000 and was placed under contract in less than 30 days. It offered 3,267 square feet of living space on a 5,871 square foot lot with 3 bedrooms, 3.5 baths. The home closed for $1,060,000 or $324.00/square foot. Listing agent was Benito Realty Group.
In general, foreclosures in Coconut Grove are trading for fair value. Our market is extremely healthy and banks know that they don’t have to have a fire sale to get their properties sold.
As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out. If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.