Andrews
Over $100 Million In Sales
We speak English, Spanish, French, and Italian
Hire the experts in the Coconut Grove market. You deserve local expertise and the finest national and international marketing.
Isabelle Andrews/ 305 546 5421 Alba Biondi/ 305 323 2595
theteam@groveexperts.com GroveExperts.com
Isabelle & Alba BiondiQ1 2023 Coconut Grove sales performance in both the single-family home and condo markets delivered impressive numbers.
Recent real estate strong fundamentals support a favorable short-term future. Coconut Grove values are solid.
• Supply and Demand: The market is segmented by price bands. The low inventory of properties available for sale creates a seller’s market for most price points.
• Median Sold Price: It is at an all-time high in both the single-family home market and condo market.
• New Construction: The number of homes in Coconut Grove remains the same. New construction in the condo market is targeting the luxury market and is a booming market.
• Mortgage Rates: They have creeped up, which has an impact on the overall market. The negative effect is tempered by an influx of cash buyers.
• Economy: The absence of a Florida state income tax attracts buyers mostly from the Northeast and California.
Are you thinking of introducing your property to the market? Our unique luxurious marketing, deep knowledge of the Grove market, and combined talents will provide you with the business experience you deserve.
Q1 2023 COCONUT GROVE MARKET ANALYSIS
Single-Family Home Market Update
• The market under the $3M price point is a strong seller’s market.
• $2,100,000 was the median sold price. The property is located at 1625 Tigertail Ave. represents the median sold price and offers 4 bedrooms, 3 bathrooms, and 2,465 Sq. Ft. of living space on an 11,025 Sq. Ft. lot.
• $3,495,000 was the median asking price as of 04/02/2023.
• 55% of the sales transactions were cash transactions.
Condo Market Update
• The market under the $10M price point is a seller’s market.
• $1,375,000 was the median sold price. The Tower Residence condo represents the median sold price and offers 2 bedrooms, 2.5 bathrooms, and 1,666 Sq. Ft. of living space.
• $2,170,000 was the median asking price as of 04/02/2023.
• 80% of the sales transactions were cash transactions.
MEDIAN SOLD PRICE
The Median Sold Price has reached an all-time high.
MORTGAGE INTEREST RATES
FACTS ABOUT ISABELLE & ALBA
• Award-winning real estate agents since 2012
• Berkshire Hathaway HomeServices EWM Realty Top Producers
• Coconut Grove real estate market experts: single-family homes, condos, land, and townhouses
• Speak English, Spanish, French, and Italian fluently
• Publishers of the Coconut Grove Journal of Real Estate since 2011
• Producers of the Grove podcast, a source of real estate market information
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