ISABELLE ANDREWS P.A.
305.546.5421
theteam@groveexperts.com

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Our New Journal

The Grove Experts Team has just revamped and revitalized the Coconut Grove Journal of Real Estate. With our new design and simplified format, understanding the real estate markets of Coconut Grove has never been easier. Featured in the Second Quarter of 2015 Magazine, there are overviews and diagrams of both the single-family home market and the condo market. You can gain a sneak peak into our newest listings. To find out more about the journal, a full copy can be found on the ISSUU website through the link below or at our Grove Experts website:

Coconut Grove Journal of Real Estate Second Quarter 2015

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@groveexperts.com.

We are the #1 Team-EWM Coconut Grove

Grove Experts

Top 1/2 of 1% Nationally

EWM 2014 Chairman's Club - Diamond Level

EWM 2013 Chairman's Club - Diamond Level

We Believe Coconut Grove is Extraordinary.
Our Purpose is to introduce Coconut Grove to the world as the ultimate neighborhood for people in search of beauty, tropical elegance, and a high quality of life. The pursuit of our client's happiness and satisfaction is at the heart of our team's culture.



 

Coconut Grove Condo Boom

During the second quarter of 2015, the number of condos sold in the
re-sale market was up 40% when compared with last quarter but was down 11% versus last year. This shows a rebounding market after a slight slow-down at the start of this year. At 56 condos, this is the highest number of condos sold since the 2nd quarter of 2014. The total sales volume increase is even more impressive with a 90% growth versus last quarter’s $41,201,919 versus $21,650,887 and 18% versus last year which generated $34,865,394 in sales.


High-end sales had a big impact on the 2nd Q condo market sales volume. 3 significant sales totaled 37% of the $41,201,919 total sales volume of the quarter.

Condos For Sale mid-July 2014Condos For Sale mid-July 2015Condos Sold 2nd Q 2014Condos Sold 1st Q 2015Condos Sold 2nd Q 2015Total volume Sold 1st Q 2015Total volume Sold 2nd Q 2014Total volume Sold 2nd Q 2015
Grove Isle157616$775,000$4,617,800$5,936,000
Grovenor House115323$3,380,000$9,795,000$12,120,000
Ritz Carlton710564$5,823,000$3,904,000$3,896,000
Yacht Harbour18012$1,205,0000$1,510,000

The condo inventory is at its lowest point since October 2014 with only 88 condos for sale as of mid-July. This represent 5.1 months of inventory. This is a notable difference with other Miami areas where the number of condos available may represent up to 20 months of inventory. The sold price per square foot surpassed the $1,000 mark in certain buildings. These two factors demonstrate a great momentum for owners who are waiting to put their properties on the market.

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@groveexperts.com.

We are the #1 Team- EWM Coconut Grove

Grove Experts

Top 1/2 of 1% Nationally

EWM 2014 Chairman's Club - Diamond Level

EWM 2013 Chairman's Club - Diamond Level

We Believe Coconut Grove is Extraordinary. Our purpose is to introduce Coconut Grove to the world as the ultimate neighborhood for people in search of beauty, tropical elegance, and a high quality of life. The pursuit of our client's happiness and satisfaction is at the heart of our team's culture.



 

The New Single-Family Home Market

As we compile Coconut Grove market sales performances, median prices and available inventory statistics, we see the transformation of our neighborhood. The value trends for homes and condos show that Coconut Grove real estate will soon be similar to the largest international cities in the world. During the second quarter of 2015, the single-family home market had a record total sales volume of $95,378,484. Comparably, the first quarter of 2013 only had a sales volume of $42,670,923: a 123% increase over the past two years.

In south Coconut Grove, 50% of the single-family homes sold for over $1,000,000. In North Grove, 62% sold over a $1,000,000. Waterfront single-family homes represented 38% of total sales volume, totaling $36,287,500 in sales.

The inventory of homes for sale versus those sold is still skewed in the $2 million+ market segment. In South Grove, this market segment represents 25% of the total homes for sale while only 8% of homes sold are at this price point. In North Grove, 37% of homes for sale are in this market but only represent 9% of homes sold.

38% of all the sale transactions were paid in cash. Such a high percentage of cash transactions demonstrates a strong demand for homes in the Coconut Grove market. Our properties are perceived as solid investments.

Call Isabelle Andrews at 305-546-5421, Alba Biondi at 305-323-2595, or email us at theteam@groveexperts.com.

We are the #1 Team- EWM Coconut Grove

Grove Experts

Top 1/2 of 1% Nationally

EWM 2014 Chairman's Club - Diamond Level

EWM 2013 Chairman's Club - Diamond Level

We Believe Coconut Grove is Extraordinary. Our purpose is to introduce Coconut Grove to the world as the ultimate neighborhood for people in search of beauty, tropical elegance, and a high quality of life. The pursuit of our client's happiness and satisfaction is at the heart of our team's culture.



 

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Search by Neightborhood within Coconut Grove: North Grove, South Grove, Central Grove and West Grove.

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2018 Coconut Grove Condo Market Report
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