The condo resale market is delivering a higher performance compared with the same quarter last year. During the 1Q 2016, the total volume of condos sold accounted for $27,615,310, a 25% increase compared with $21,650,887 during the 1Q 2015.
The increase of sales volume was paired with a decrease in the number of units sold. Are we selling less for more? During the 1Q 2016, 37 units sold, compared with 40 during the same quarter 2015, a 7.5% decrease. Regarding the available inventory of condos, 113 units were available for sale at the end of the 1Q 2016 compared with 97 during the same period in 2015, which represents a 16.5% increase.
The Coconut Grove real estate market has many facets. Market trends are different and sometimes opposite depending on price point, location, and year built. In this journal, we will analyze the different trends and segments and share with you our views of the market.
If you are thinking of buying or selling a condo, call us for a hyper analysis of the market tailored for your property.
If you are interested in buying or selling property, call Isabelle Andrews at 305.546.5421, Alba Biondi at 305.323.2595, or email us at theteam(at)groveexperts(dotted)com.
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