Andrews
Over $100 Million In Sales
We speak English, Spanish, French, and Italian
Isabelle Andrews/ 305 546 5421 Alba Biondi/ 305 323 2595
theteam@groveexperts.com GroveExperts.com
Q2 2023 Coconut Grove sales outperformed last quarter in both the single-family market and condo market. The Grove market is a seller’s market at almost all price points.
The 9-month inventory level is the threshold to predict future market behavior. Market values should remain strong as the inventory available for sale remains low. It is a supply/demand business.
Cash transactions represent 55% of all sales in the single-family market and 68% of all condo sales.
Investors are seduced by the beauty and lifestyle of the Grove. Major companies have moved their headquarters to Miami, and the absence of a Florida state income tax is attracting buyers to our beautiful neighborhood.
Thinking about introducing your property to the market? Let’s meet for a confidential assessment of your property’s value and to provide guidance to enhance your property’s desirability.
COCONUT GROVE SINGLE-FAMILY MARKET REPORT
Remarks:
• Overall price statistics reflect activity in the market below the $2M price point and the $3M to $5M price points. The latter price point performance is an emerging market.
• $2,100,000 is the median sold price, which is unchanged compared to last quarter and slightly above the same quarter last year.
• $2,950,000 is the median asking price.
COCONUT GROVE CONDO MARKET REPORT
Q1 AND Q2 2023
Remarks:
• The $1M and below market dominates sales performance.
• It is a strong seller’s market for units priced below the $5M price point.
• $940,000 is the median sold price compared with $1,375,000 in Q1 2023. This is due to a major sell-off in the lower end of the market.
• This report does not include developers’ sales (Vita, Mr. C, etc.), which represent the $3M+ market.
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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