The average “Days on the market” for a townhouse in Coconut Grove is 89 days.
This townhouse priced at $499,000 on Virginia Street listed by Rob Feland at Avatar went under contract in 5 days. (3060 Virginia Street, 1,810 square feet, 2 Bed/2.5 Bath, 3 story unit, granite floors, stainless appliances, tropical garden).
How did he do it? In my opinion, the home was priced perfectly, not over priced or under priced. It was also a beautiful, well maintained home. Buyers definitely have options in this market, so we are seeing two types of properties being sold:
(1) Well priced homes in perfect condition
(2) Homes that have been drastically reduced
On the townhouse front:
(1) There are currently 183 townhouses for sale in Coconut Grove.
(2) The average listing price is $676,221, and average list price per square foot is $303
(3) There have been 17 townhouses sold this year in Coconut Grove.
(4) The average selling price was $467,259, and average sold price per square foot was $263