Center Coconut Grove Market Update

GetMedia.ashx-143121 Oak Ave, Miami, FL 33133
3 beds/3.5 baths | 2,410 sq ft | built in 2009 | sold for $1,000,000 on 9/28/18
Listed with Michael Light/Douglas Elliman

The 3+ bedroom townhouse market in Center Coconut Grove has continued to see strong sales over the last six months, with an average sales price of $749,409.52, an average sales price per square foot of $332.66, and with listings seeing an average of 59 days on market.

Over the last six moths, there have been two sales over $1,000,000 (one resale and one new construction property), as well as four sales in the $900k range (two resales and two new construction properties).  Two sales had a price per square foot of $400.00+, with a handful of sales in the high $300’s per square foot.

View all the data in the graph below.  Keep in mind that this is per SEF MLS data and does not include off-market sales, including my two new construction sales in July (which sold for $1.15M and $1.7M).

IMG_5079

Most recently, a townhouse at 3121 Oak Avenue sold for $1M ($414.94/sf).  This was a resale, as the property was originally built in 2009. The townhouse is a stand-alone property which is very rare for the neighborhood (meaning the townhouse does not share any walls or roofs with its one identical neighboring townhouse).  Other notable features included a 2-car garage, private pool, hurricane impact windows/doors, and large 1,200 square foot rooftop patio with summer kitchen. Click here for more photos/info of this property.

Inventory in the neighborhood continues to remain low, making it an excellent time to sell.  If you are thinking about buying, selling or renting a home in Coconut Grove or the neighboring communities, contact me directly at 305.799.2124 or lrubens@bhsusa.com.

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