Because Coconut Grove is such a small community, the number of homes sold here makes up a small percentage (less than 1%) of the overall homes sold in Miami-Dade County. However, we make up for that low number with the amount of volume we sell. In 2015, for example, there was a total of $275,997,796 worth of single family homes sold in Coconut Grove. That accounts for approximately 4% of the total single-family home volume sold in Miami-Dade County.

Check out the chart I created above which shows the monthly volume closed in Coconut Grove. You can see that since 2012, our volume has risen steadily – which is due mostly to rising home prices.

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We Know Coconut Grove Real Estate.

Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 7 years and knows 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

With prices at record levels in Coconut Grove, it can be extremely difficult to find a good quality, entry-level single family home. If you are looking in that segment of the market, you must check out our new listing at 2225 Secoffee Terrace priced at just $525,000. It is the least expensive home on the market right now in Coconut Grove!!

2225 Secoffee Terrace offers 3 bedrooms, 2 baths with 1,457 square feet of living space on a 5,000 square foot lot. The home features a large family room with vaulted ceilings as well as a living and dining room. The private back yard offers year round entertaining.

For more details and information, click here. If you would like to schedule a showing of this property, contact our office at 305-960-5318.

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Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 7 years and knows 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

As we come to the half-way point of 2016, I wanted to give my blog readers a quick recap of the real estate market here in Coconut Grove. The first interesting figure is that there have been just 55 single-family homes sold in North and South Coconut Grove (this excludes single-family homes that sold for land value) since January 1st.  This number is extremely low compared to the sales from previous years. Last year at the same time we already had 90 sales on the books which means that sales have dropped by 38% in 2016. With the slow down we are seeing sellers become more frustrated and having to make price adjustments in order to get their property to move.

The total volume this year for homes sold comes in at $77,417,250 with an average “sale price/square foot” of $463.00. Values have remained stable over the past 6 months however I do believe that we will see them start to fall in the near future.

There have been about 15 properties which sold for land value and recorded on the MLS. They sold for approximately $90/square foot. Note that prices for land can vary dramatically based on location and size.

If you are curious about the value of your home in today’s changing market, please feel free to contact me at 305-342-1623.  The Riley Smith Group has been the #1 Top Producing Coconut Grove Realtor for over 7 years and knows 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.

The 2009 waterfront estate located at 1840 South Bayshore Lane was listed for sale back in 2015 for $8,900,000. Over the next 12 months the price was reduced several times to a final listing price of $5,600,000. On March 25, 2016 the home was listed by Fisher Auction Company and auctioned off on May 18th for $5,936,000 ($300,000 over the opening bid). The home offered 12,863 square feet on an 11,851 square foot lot with sweeping views of Biscayne Bay. Some of the special features included a Palatial great hall, grand fireplaces, French cast-bronze chandeliers, coffered/vaulted ceilings, stone floors, tracery windows, stunning master, formal living & dining Keystone-edged pool, rooftop spa & sundeck, and dock with diving platform.

This is the 3rd waterfront home to sell in Coconut Grove this year. Below is a recap of all of the waterfront sales:

1. 3579 Stewart Avenue | Sale Price: $4,120,000 | Sale Price/Square Foot: $784.00
2. 3333 S. Moorings Way | Sale Price: $3,300,000 | Sale Price/Square Foot: $600.00
3. 1840 S. Bayshore Lane | Sale Price: $5,936,000 | Sale Price/Square Foot: $461.00

The Riley Smith Group has been the #1 Top Producing Coconut Grove Realtor for over 7 years and knows 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.

Ransom Everglades High School right here in Coconut Grove is one of the top 10 high schools in the country. They have recently placed under contract the adjacent 6.9 acre waterfront property located at 3551 Main Highway known as La Brisa. La Brisa is steeped in history, it was originally deeded to Kirk Munroe back in 1886 who was a noted conservationist and founding member of the Florida Audubon Society. The home sold in 2008 for $11,500,000 and came on the market in 2014 for $65,000,000. It was the most expensive home for sale in Miami at that time. Over the past few years they reduced the price to $39,500,000. The school is scheduled to close on the purchase June 21.

A note on Ransom Everglades’ website reads:

“We can’t pass up the opportunity to buy this beautiful property,” said Ransom Everglades Head of School Penny Townsend. “The purchase will allow us to improve our facilities, add vital greenspace  and continue our long tradition of respecting, protecting and learning from the treasures of Old Florida and Miami’s precious coastal ecosystems.”

“Paul Ransom founded our school 113 years ago with a forward-thinking focus on taking care of the natural world,” said Eric Mendelson, chairman of the school’s board of trustees. “The current trustees are strongly committed to ensuring the vitality of the school for the next century, and the prudent addition of this neighboring property fits squarely into our long-term educational goals while also honoring Paul Ransom’s legacy.”

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Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 7 years and knows 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

De Garmo Estates is one of the most sought after gated communities in Coconut Grove. The community is named after Walter C. De Garmo, a renowned architect from the early 1900’s who built his home on the site. Today, the community is made up of 10 private villas situated along a winding road canopied by massive oak trees.

We have just listed a spectacular property in De Garmo Estates. This elegant Italian-inspired residence offers light filled living spaces with double height ceilings and the finest of finishes. Some of the special features include a marble fireplace, coffered & tray ceilings and extensive millwork throughout. An expansive custom kitchen and family room open to a covered terrace and pool surrounded by lush botanical gardens.

The home offers 4 bedrooms, 4 full baths and 1 half bath with 4,670 square feet of living area on a large 11,378 square foot lot. It is being offered at $2,700,000. View more photos here.

Join us for lunch on Wednesday, June 15 at our Brokers Open House from 12:00 to 2:00 to preview this new listing.

The Riley Smith Group has been the #1 Top Producing team in Coconut Grove for over 7 years and knows 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.

Over the past few weeks I have noticed a surge of price reductions coming across the wire. Sellers who were once very aggressive with their list prices are now listening to what the market is telling them. In other words, they may need to reduce their price to sell. Of the 28 pending sales in Coconut Grove, 1/2 of them were reduced prior to going under contract. This number is different from the overall closed sales in 2016 where just 1/3 were reduced prior to closing. I believe that we will continue to see this trend throughout Coconut Grove until at least the end of the year.

The Riley Smith Group has been the #1 Top Producing team in Coconut Grove for over 7 years and knows 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.

I wanted to share a recent testimonial that we received from our clients at 1601 Onaway Drive in North Coconut Grove. Ania Lenzhzölzer was a local real estate agent who initially listed her house on her own. After a short time on the market, Ania and her husband had to leave Coconut Grove due to a family emergency. I was honored when she asked if I would take over the listing for her and was thrilled to place it under contract shortly thereafter. This 4 bedroom, 3.5 bath home offered 2,109 square feet of living space on a 7,309 square foot lot. The home closed for $1,175,000.

“Riley helped us sell our home in early 2016. My wife is a realtor also and listed the home initially, but due to a family emergency, we had to leave town before the house went under contract. Riley was not only ready to jump in right away, he handled the transaction in the most professional way and the sale of our home went smoothly and quickly. Riley knows the market like no one else, he is very responsive and has a great support team around. We cannot recommend Riley highly enough and we are very thankful he helped us out in this unforeseen situation.”

Many thanks to our wonderful clients Ania and Steve. We wish them all the best!

I am excited to announce a great new condo project coming soon to Coconut Grove! This boutique building, named Fairchild Coconut Grove, will be designed by the renowned architectural firm of [Strang] and located at 3581 Glencoe Street. The building will be just 3-5 stories high, much smaller than some of the newer condo buildings currently going up in Coconut Grove. Residences will range in size from 1,700 to 4,200 and prices will start at $1.4 million. It is situated on 1 acre of land. In keeping with the lush vegetation of Coconut Grove, the renderings show vine covered walls and dense foliage surrounding the building.

Max Strang has designed many luxury single-family homes in South Florida and has already left his mark on Coconut Grove’s architecture. The firm has received numerous awards and has been featured in countless publications for their designs. (The Riley Smith Group currently has Max Strang’s original Coconut Grove residence for sale at 4080 Douglas Road, list price $4,000,000 – view photos and information here).

Stay tuned to the blog for more information on Fairchild Coconut Grove!

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Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 7 years and knows 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.

The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the Coconut Grove Gated Communities, Coconut Grove Waterfront Homes, Coconut Grove Townhouses, Coconut Grove Condos plus much more.

Congratulations to our sellers and buyers who just closed on the home located at 3720 Poinciana Avenue. We had this home listed for just a few weeks before placing it under contract. The home closed for $2,600,000 or $605.00/sq. ft. As of today, it is the highest “sale price/square foot” for a non-waterfront home sold in 2016. The home offered 4,294 square feet of living area on a 32,706 square foot lot with 5 bedrooms, 5.5 baths. It was a gated plantation style estate surrounded by lush tropical gardens, winding pathways and majestic oak trees. It had been recently renovated with attention to detail and the finest finishes and fixtures throughout. There was also a spectacular 1 bedroom, 1 bathroom guest cottage on the property.

The Riley Smith Group has been the #1 Top Producing team in Coconut Grove for over 7 years and knows 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.