The market in Coconut Grove remains strong but it, like other areas in South Florida, has felt the effects of a stabilizing market. 2014 in Coconut Grove saw an increase in inventory of about 35%. Sales and price per square foot were up, but at just about 5% each, not keeping up with the rise in inventory. November saw a price per square foot of $395. This number has fluctuated throughout the year with a high of $452, but averaging what we saw in November. While six months of inventory is what we call a balanced market, we are currently at 9.6. This technically defines a buyer’s market, but in reality we are still at a very balanced place. Here’s to a great 2015! For more information on the Coconut Grove market or any other real estate needs, please call me at 305.798.8685 or visit my website: Luxury Miami Real Estate.
My focused dedication as a realtor in my home town of Miami for over 20 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.
As the #3 Realtor company-wide at EWM in 2012 with over $55 Million in sales, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!