$2 Million+ Condos Drive 4th Quarter 2014 Sales
The Coconut Grove real estate market ended 2014 on a high note as the fourth quarter had the best performance of the year. The condo resale market saw 203 closed sales during 2014 for a gross value of $132,527,408, an increase in dollar value of 10.7 % compared with 2013 and 17.7% compared with 2012. $2 million+ condos represented the highest performing segment of the market with a 100% increase in sales over 2014 compared to 2013.
The strong performance of the $2million+ market is a trend that has continued from last year and will likely continue as the Grove awaits the completion of the Grove at Grand Bay and Park Grove projects. In addition, Condo inventory has increased and reached the triple digits for the first time since mid-April, giving buyers more options. Our upcoming edition of The Coconut Grove Journal of Real Estate will feature an in depth analysis of the condo and single-family home markets.
Interested luxury condo buyers can search our database of available $2million+ condos here.
Look at a complete list of condos sold in Coconut Grove here.
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