Coconut Grove, FL

Just as I predicted, the foreclosure I wrote about last weekend got snapped up in a matter of days. It officially went pending today.

I took several clients over to see the house but they all decided that it was more of a "project" than they were hoping for.

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.

To view this post in its original form, click here.

It is that time of year again when the northerners head south for the winter. For all of you who are interested in second homes, Coconut Grove has one of the most stable condo markets in South Florida. Our luxury buildings here in Coconut Grove offer bay views and top amenities.

Click on the links below to see what is available in our most popular condo buildings:

• Grovenor House: 22 for sale |6 closed this year.
• Ritz Carlton: 22 for sale | 3 closed this year.
• Grove Hill: 2 for sale | 3 closed this year.
• Grove Towers: 9 for sale | 1 closed this year.
• Yacht Harbor: 8 for sale | 5 closed this year.

In the above buildings there are only 2 units that are in foreclosure and they are both in Grove Towers (Unit 9A and 3F).

I handle many relocations to Coconut Grove and the surrounding areas.. If you are interested in buying a second home or relocating please contact me at (305) 342-1623 or send me a note here.

This post can be read in its original form here.

Coconut Grove Active Listings -240 (similar to last month)
68 are "luxury listings" (ie over $1,500,000) -  (similar to last month)
35 are short sales (similar to last month)
5 are foreclosures (similar to last month)
Median List Price - $867,500 (same as last month)

Coconut Grove Pending Sales - 31 (similar to last month)
3 are "luxury listings" (up from last month)
15 are short sales (up from last month)
3 are foreclosures (down from last month)

Coconut Grove Closed Sales - 9 (similar to last month)
0 were "luxury listings"
1 was a short sale
3 were foreclsoures
Average List Price - $614,000
Average Sold Price - $533,000
List price to Sold Price Ratio - 87%
Higest Closed Listing - $1,055,000
Lowest Closed Listing - $465,000

What does this mean to you?

If you have a listing in the luxury market, there is stiff competition with over 1/4 of all listings in Coconut Grove in the top 10% of Miami-Dades' pricing ("luxury listings"), Listings in the upper price point are selling at a much slower rate than the lower price points and there are 4 years of inventory on the market (a sellers market is closer to 6 months). In order to be a viable listing, the price must be correct and the marketing top notch. Without both, listings are having a slow time moving.

If you are on the hunt for a "bargain", they are out there, but they go quickly. Most foreclosures sell quickly and close to, or above list price. In order to have the best chance of snatching one of these deals up, work with an experienced Coconut Grove Broker who is comfortable with foreclosures (like me, hint hint ;-). They will advise you as soon as a new property comes on the market or drops in price to be within your price range. They will also knows the special ins and outs of purchasing foreclosures.

Check back next month for the Coconut Grove August month in review!

Visit past Market Reports (scroll down once you click the link to see all)

Customized Monthly Market Reports delivered right to your email!

Bookmark with me your favorite listings on

FREE Customized Monthly Market Reports delivered right to your email!

Free HOME VALUATION!

Free MLS Search!

Call Janie at 786-252-4970!!

Want more news? Subscribe in a reader!

If you are a fan or resident of Coconut Grove or own a business and don't follow the Coconut Grove Grapevine, you SHOULD!

The Coconut Grove Grapevine is your one stop shop for events, dining, dirt, news, politics and life in the Grove.

Updated throughout the day with info, photos, goings-on, it's all there. See a crazy sight on the street and wonder what that was all about? Go visit the Coconut Grove Grapevine. New restaurant open and wonder how the food is? Go visit the Coconut Grove Grapevine. Wonder what's up with the crazy politicians, bureaucrats and parking? Go visit the Coconut Grove Grapevine! Seriously, anything you might be thinking about int he Grove, it's on the vine!

COCONUT GROVE CALENDAR

COCONUT GROVE RESTAURANTS

COCONUT GROVE PICTURES

COCONUT GROVE LINKS

They are on twitter, and facebook, offer an RSS feed so you can get your Grove on however you like!

They also have tons of advertising opportunities for local Coconut Grove businesses, if you don't believe, check out who does!

Coconut Grove Active Listings -248 (similar to last month)
65 are "luxury listings" (ie over $1,500,000) - (down from last month)
36 are short sales (similar to last month; 4 are luxuray properties)
5 are foreclosures (fewer than last month)
Median List Price - $867,500 (up from last month)

Coconut Grove Pending Sales - 30 (similar to last month)
0 are "luxury listings" (same as last month)
8 are short sales (similar to last month)
9 are foreclosures (similar to last month)

Coconut Grove Closed Sales - 11 (double from last month)
1 was "luxury listings"
1 was a short sale
1 was a foreclsoure
Average List Price - $720,582
Average Sold Price - $660,000
List price to Sold Price Ratio - 92% (up 5% from last month)
Higest Closed Listing - $1,400,000
Lowest Closed Listing - $124,000 (a foreclosure)

What does this mean to you?

If you have a listing in the luxury market, there is stiff competition with over 1/4 of all listings in Coconut Grove in the top 10% of Miami-Dades' pricing ("luxury listings"), Listings in the upper price point are selling at a much slower rate than the lower price points and there are 4 years of inventory on the market (a sellers market is closer to 6 months). In order to be a viable listing, the price must be correct and the marketing top notch. Without both, listings are having a slow time moving.

If you are on the hunt for a "bargain", they are out there, but they go quickly. Most foreclosures sell quickly and close to, or above list price. In order to have the best chance of snatching one of these deals up, work with an experienced Coconut Grove Broker who is comfortable with foreclosures (like me, hint hint ;-). They will advise you as soon as a new property comes on the market or drops in price to be within your price range. They will also knows the special ins and outs of purchasing foreclosures.

Check back next month for the Coconut Grove August month in review!

Visit past Market Reports (scroll down once you click the link to see all)

Customized Monthly Market Reports delivered right to your email!

Bookmark with me your favorite listings on

FREE Customized Monthly Market Reports delivered right to your email!

Free HOME VALUATION!

Free MLS Search!

Call Janie at 786-252-4970!!

Want more news? Subscribe in a reader!