Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Coconut Grove Real Estate Market Update for August 2009

Coconut Grove Active Listings -240 (similar to last month) 68 are "luxury listings" (ie over $1,500,000) -  (similar to last month) 35 are short sales (similar to last month) 5 are foreclosures (similar to last month) Median List Price - $867,500 (same as last month) Coconut Grove Pending Sales - 31 (similar to last month)3 are "luxury listings" (up from last month)15 are short sales (up from last month)3 are foreclosures (down from last month) Coconut Grove Closed Sales - 9 (similar to last month) 0 were "luxury listings" 1 was a short sale3 were foreclsoures Average List Price - $614,000 Average Sold Price - $533,000 List price to Sold Price Ratio - 87% Higest Closed Listing - $1,055,000 Lowest Closed Listing - $465,000
What does this mean to you? If you have a listing in the luxury market, there is stiff competition with over 1/4 of all listings in Coconut Grove in the top 10% of Miami-Dades' pricing ("luxury listings"), Listings in the upper price point are selling at a much slower rate than the lower price points and there are 4 years of inventory on the market (a sellers market is closer to 6 months). In order to ... more

__________________________________________________
Are you on The Rain? Grow Your Network!