Rental Market Is Hot In Coconut Grove
Rental properties are going fast in Coconut Grove! We recently listed a townhouse at 3075 Elizabeth Street in the Center Grove for $3,400 per month and placed it under contract in a matter of days. We are seeing rental property values go up every day because there is such high demand. This has been caused by an increase in prices of homes for sale in Coconut Grove. The average home sells for $1,000,000 and not surprisingly, there are many people who have been priced out of the market.
This year, there have been over 250 properties rented in Coconut Grove. The average single family home rents for $4,889/month, average townhouse rents for $3,424/month and the average condo rents for $2,533/month. These prices have increased by as much as 20% in some segments of the market since last year.
If you are looking for a rental in Coconut Grove, we have two great properties coming up and would be happy to share the information with you and give you the first look. Please contact 305-766-7666 for more information on these.
We have been the #1 Top Producing Realtors in Coconut Grove for over 5 years, and know the market inside and out. If you would like to buy or sell real estate in Coconut Grove, please contact us at 305-342-1623 or send us a message here.