Coconut Grove, FL

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Many condos in Coconut Grove edge toward luxury, and feature some of the amenities high-end buyers have come to expect. Grovenor House, for example, offers residents a state-of-the-art fitness center, a wine cellar, concierge services, a dog park, spa and children's playground. Many condos are also very close to the heart of Coconut Grove shopping and nightlife. The Mutiny, for example, is a hotel-condo just steps from stores, restaurants and the marina in Coconut Grove. The average price Coconut Grove Condos range from $500,000 to $10,000,000.

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Coconut Grove Active Listings -278 (similar to last month) 34 are NEW listings
87 are "luxury listings" (ie over $1,500,000) - (similar to last month)
31 are short sales (similar to last month)
9 are foreclosures (fewer than last month)
Median List Price - $812,500 (down from $899,000 last month)

Coconut Grove Pending Sales - 28 (up from 17 last month)
3 are "luxury listings" (same as last month)
7 are short sales (double to last month)
8 are foreclosures (up from last month)

Coconut Grove Closed Sales - 5 (half as many as last month)
1 was "luxury listings" (down from 4 last month)
0 were short sales (down from 1 last month)
2 were foreclsoures (same as last month)
Average List Price - $2,309,000 (down from $1,850,000 last month)
Average Sold Price - $1,720,000 (up from $1,311,000 last month)
List price to Sold Price Ratio - 87% (same as last month)
Higest Closed Listing - $6,000,000 (up from $3,700,000 last month)
Lowest Closed Listing - $465,000; a foreclosure

What does this mean to you?

If you have a listing in the luxury market, there is stiff competition with over 1/3 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 6 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 May 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

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Call Janie at 786-252-4970!!

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Coconut Grove Active Listings -287  (same as last month)
    86  are "luxury listings" (ie over $1,500,000) - (same as last month)
    36 are short sales (same as last month)
    14 are foreclosures (same as last month)
    Median List Price - $899,500 (same as last month)
 
Coconut Grove Pending Sales - 17 (up from 13 last month)
    3 are "luxury listings" (down from 4 last month)
    3 are short sales (similar to last month)
    6 are foreclosures (up from last month)

Coconut Grove Closed Sales - 11 (up from 8 last month)
    4 were "luxury listings" (up from 1 last month)
    2 were short sales (up from 1 last month)
    2 were foreclsoures (down from 4 last month)
    Average List Price - $1,580,000 (up from $650,000 last month)
    Average Sold Price - $1,311,000 (up from $623,000 last month)
    List price to Sold Price Ratio - 86% (down from 92% last month)
    Higest Closed Listing - $3,700,000; a Short Sale (up from $1,500,000 last month)
    Lowest Closed Listing - $123,000; a foreclosure

What does this mean to you?  

If you have a listing in the luxury market, there is stiff competition with over 1/3 of all listings in Coconut Grove in the top 10% of Miami-Dades' pricing ("luxury listings"),  This is UP from 1/4 in February.  Listings in the upper price point are selling at a much slower rate than the lower price points and there are 6 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 Coral Gables March 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!

Coconut Grove Active Listings - 304
    81 are "luxury listings" (ie over $1,500,000)
    35 are short sales
    15 are foreclosures
    Median List Price - $875,000
 
Coconut Grove Pending Sales - 13
    4 are "luxury listings"
    3 are short sales
    4 are foreclosures

Coconut Grove Closed Sales - 8
    1 were "luxury listings"
    0 were short sales
    4 were foreclsoures
    Average List Price - $696,999
    Average Sold Price - $643,000
    List price to Sold Price Ratio - 92%
    Higest Closed Listing - $1,500,000 -
    Lowest Closed Listing - $189,000 (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 is over 6 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 Coral Gables March 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!

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!