The Coconut Grove single-family market has had steady, annual price growth over the last few years. For the first time, the South and North Coconut Grove markets had similar sales performances when compared to the previous quarter. The third quarter is typically less active than the second, however this year, 26 homes is the same number sold in South Grove during the second and third quarters. Similarly, 19 North Grove homes sold during the third quarter versus 21 last quarter. These consistent sales statistics demonstrate the continued strength of the Coconut Grove market. The table below shows the specifics of the market based on location in the grove:
|
MEDIAN PRICE |
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|
NORTH GROVE |
SOUTH GROVE |
WEST GROVE |
||
|
3nd Q 2013 |
700,000 |
912,500 |
120,000 |
|
|
3nd Q 2014 |
930,000 |
1,112,500 |
187,275 |
|
|
3nd Q 2015 |
1,100,000 |
990,100 |
287,500 |
|
|
TOTAL VOLUME SOLD |
||||
|
NORTH GROVE |
SOUTH GROVE |
WEST GROVE |
WATERFRONT |
|
|
3nd Q 2013 |
17,215,000 |
33,499,000 |
867,000 |
11,700,000 |
|
3nd Q 2014 |
11,091,050 |
31,633,373 |
921,750 |
11,410,000 |
|
3nd Q 2015 |
21,492,001 |
31,306,700 |
2,032,000 |
13,400,000 |
|
NUMBER OF PROPERTIES SOLD |
||||
|
NORTH GROVE |
SOUTH GROVE |
WEST GROVE |
WATERFRONT |
|
|
3nd Q 2013 |
19 |
30 |
5 |
1 |
|
3nd Q 2014 |
10 |
28 |
4 |
2 |
|
3nd Q 2015 |
19 |
26 |
6 |
1 |
The number of single-family homes for sale with a price point over $1.5M represents 52 % in North and 50% in South Coconut Grove when the number of homes sold represent 10% and 30% respectively.
The median asking price is respectively $1,620,000 in North and $1,494,500 in South Grove when the median sales price is $1,100,000 and $990,100 respectively.
We are the #1 team in EWM Coconut Grove Office. 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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