Coconut Grove Waterfront Market Snapshot – March 2016

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Real Estate Agent with ONE SOTHEBY'S INTERNATIONAL REALTY 3055685

The Coconut Grove Waterfront property category is some of the most sought after real estate in South Florida. The demand is high but the turnover on those homes are relatively low as they are truly valuable for discerning owners who want a piece of our tropical coastline. That is why it’s so important to work with a local expert who has access to inventory before it even becomes available in the mainstream market.

In the past 6 months of sales, we’ve only had two single family home transactions. The average sold price on those homes were significant at $3,510,000 with the average $/ sq ft at $684.  The previous 6 months saw 6 total transactions. The average price sold during that period was $8,281,250 with the average $ / sq ft at $863. Currently, the average list price of a single family home on the Coconut Grove waterfront is $3,519,000.

In the last 6 months of condo sales, we have seen 34 transactions. And this is increased transaction level is poised to maintain strong or grow as significant new projects add inventory from Grove at Grand Bay and Park Grove. The average sold price in the last 6 months was $1,225,436 with an average $ / sq ft at $575. In the previous half year period there were 38 transactions. The average sold price was $1,302,966 with an average $ / sq ft at $617. Overall, we’re seeing significant movement in the condo sector with lots of inventory on the waterfront along the beautiful Bayshore Drive. Currently, the average list price in the condo category is $1,286,000 and I look forward to leverage my experience representing top condo units in this hot market.

Find the complete market snapshot here. Activity levels are high or low dependent on different economic factors and seasonality. So if you’re hoping to target one of these homes it’s important to have an expert advocating for you in this competitive market. Reach out for a private consultation based in my deep understanding of local data.

 
Work with an experienced and trusted Coconut Grove market specialist as you explore real estate opportunities in Miami’s most sought after communities. Call today for a buyer or seller consultation with the Jill Penman Group at 305.807.9199.  My expertise in local real estate and the global luxury market delivers extraordinary service that has firmly established my brand as an international luxury real estate leader for the past 13+ years. Read more about how I tirelessly chase the results that matter most to our clients and reach out to experience this for yourself

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