It is a solid real estate market.

The Coconut Grove single-family home market is as strong as it ever has been. The combined effect of a steady purchase market, a large number of sales due to close, and slightly fewer homes available for sale will generate an uptrend in the market during the summer months.

Almost the same number of homes have sold this year compared with this same time last year. The most expensive home sold so far in 2018 has been a 5-bedroom/5-bath waterfront estate with 18,000+ sq. ft. of living space, which sold for $19,750,000. The most inexpensive home sold so far in 2018 has been a 2-bedroom/1-bath house with 998 sq. ft. of living space, which sold for $225,000.

Thus far in 2018, 43% of homes sold have been below the $1 million price point, 32% between $1 million and $2 million, 14% between $2 million and $3 million, and 11% above the $3 million price point. Additionally, the inventory of homes for sale is stable, with 158 homes available in July 2018 (worth a total value of $380M), which is slightly fewer than the 162 homes that were available in July 2017 (totaling $391M). As of this writing, 35 home sales are due to close during the next 2 months with a total value of $49M.

All these indicators point to a strong and steady Coconut Grove market. If you would like a more in-depth analysis, please contact us for our latest data.

As Seen in Miami Today (1st Photo)

All data represented is deemed reliable, but is not guaranteed.

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