Real estate activity for waterfront homes in Coconut Grove has been extremely slow over the past 6 months with just 1 closed sale (this was Lebron James’ former house which closed for $13,400,000). Low inventory levels and a stagnant luxury market have played a key factor in the slower sales of waterfront homes.
The spreadsheet below shows the active inventory in Coconut Grove. Considering that prices start at $605.00/square foot, I believe that there are some great opportunities right now in this segment of the market (the average “sale price/square foot” for all homes sold in Coconut Grove during 2015 was $480.00).
I have two great waterfront listings for sale right now in Coconut Grove, 1835 Fairhaven Place (photos and information here) is a new, modern home in the North Grove listed for $3,999,000 and 2120 South Bayshore Drive (photos and information here) which is currently the least expensive waterfront home on the market listed for $2,500,000.
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