Here are the most recent numbers regarding the Coconut Grove Foreclosure Market. This data comes from the SEF Multiple Listing Service between the dates of 1/1/08 to 8/22/08.
Current Coconut Grove Foreclosures
- Approximately 6 single family foreclosures currently on the market in Coconut Grove.
- Price Range: $2,700,000 to $179,900
- List Price/Square Foot Average: $280.00
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Sold in 2008 Coconut Grove Foreclosures
- Approximately 8 single family foreclosure homes sold in 2008
- Price Range: $1,000,000 to $375,000
- Sale Price/Square Foot Average: $228.00 (Average Sale Price/Square Foot of homes in Coconut Grove not in foreclosure is $286.00)
What do these numbers mean?
- Not all foreclosures are priced below market value.
- With only 6 on the market, and 8 sold in 2008, Coconut Grove is not seeing the rash of foreclosures that other areas in Miami have seen.
- Foreclosure properties will not cause Coconut Grove home values to drastically fall.
Other posts you may be interested in: Coconut Grove Real Estate Market Update
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