The first sale of the year has come across the wire in Coconut Grove. The listing located at 3632 Stewart Avenue has closed for a price of $2,650,000 (listed by Avatar). At $521.00/sq. ft., this home is part of a trend we are seeing in Coconut Grove of rising home values.
The average "sale price per square foot" in Coconut Grove during 2013 hovered around $360.00/sq. ft.. We saw the highest increase in values for homes under $1,000,000.
Stewart Avenue is located in the gated community of Entrada Estates. This is one of just two sales during 2013 in Entrada Estates. The other was located at 3600 Stewart Avenue and was an unapproved short sale which closed for $1,130,000. That home has been completely remodeled and is back on the market for $2,100,000.
I am a Coconut Grove real estate specialist, contact me directly at 305-342-1623 or visit me at The Riley Smith Group for more information about my team.