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

As of the 3rd Quarter 2015, the Coconut Grove re-sale condo market has a stable inventory with a slight decrease in the number of units sold. On the other hand, a very high number of preconstruction units have been put under contract.

The fabric of the Coconut Grove Luxury condo market is changing due to new projects. 336 condos sold in the re-sale market of Coconut Grove from January 2014 until mid-October 2015. During the same period an amazing number of about 276 preconstruction condos were put under contract in the new developments of Park Grove Towers Two and Three, and Grove and Grand Bay combined.

According to the developers, Park Grove Towers Two and Three are already 90% under contract while Grove at Grand Bay, which is to be finished by the first quarter of 2016, is almost entirely sold out. Only one penthouse is available and it can be yours for $28 million. These numbers demonstrate the market’s demand for new construction condos over re-sale condos.

The Uber-Luxury Condo Market will have an impact on the whole Coconut Grove Condo Market for the years to come.

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.

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