JUST SOLD: Stunning New Construction in South Coconut Grove

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3630 N Bay Homes Dr, Miami, FL 33133
5 beds/5.5 baths | 5,481 sq ft | 9,212 sq ft lot | built in 2019 | sold for $3,300,000

I am thrilled to share the details of this spectacular new construction home that my buyers just closed in South Coconut Grove! Located on a quiet, private street just steps from the bay, this stunning property is an architectural beauty.

Features include a sculptural staircase plus elevator, a large open floor plan, and endless floor to ceiling windows that overlook an extensive 60 foot lap pool and lush vegetation from every corner. Stylish modern finishes, ample closets and top-of-the-line appliances complete this 5 bed/5.5 bath home.

Scroll below to see all the gorgeous photos!

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Congratulations to the lucky buyers and sellers on the sale of this very special home!

For more information on this or similar properties in Coconut Grove and the surrounding neighborhoods, please contact me directly at 305.799.2124 or LRubens@bhsusa.com.

BHS Miami’s Q1 2019 Market Update

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Brown Harris Stevens just released the First Quarter 2019 Market Report.  Recognized for its detailed analysis and area by area market evaluations, it has become the ‘go-to’ real estate report by both Realtors and consumers alike.

2019 is off to a great start, as the data highlights South Florida’s active and healthy real estate market with positive indicators for both Buyers and Sellers. As some areas rallied with higher sales prices, increased closings, and fewer days on market, other areas experienced mixed trends and signs of stabilization.

Notably, the Coconut Grove condo market (which includes the sale of townhouses) saw a drop in the average and median sales price, while the average price per square foot saw an increase.

Coconut Grove Condo Market Update – Q1 2019

Coconut Grove Condo Market Update - Q1 2019

As for the Coconut Grove single family home market, the median and average sales price continues to increase, and the average price per square foot continues to increase, as well.  However, the number of closings dropped from 24 in Q1 2018 to 11 in Q1 2019.

Coconut Grove Single Family Home Market Update – Q1 2019

Coconut Grove Single Family Home Market Update - Q1 2019

The full report can be viewed here: http://media.bhsusa.com/pdf/BHS-Miami-Q1-2019_Market-Report.pdf.

I invite you to explore the report and contact me to discuss real estate opportunities at any time. You can reach me directly at 305.799.2124 or Lrubens@bhsusa.com.

Center Coconut Grove Homes Under $600k in High Demand

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There is no question that the Center Coconut Grove townhouse market is currently facing a major shortage of “affordable” townhouses. In fact, there is only a very small handful of 3+ bedroom townhouses presently listed on the MLS, and about half of them are asking over $1 million.

As the demand for Center Coconut Grove townhouses has increased over the last several years, we have naturally seen an increase in price. It is now incredibly rare to find a decent 3+ bedroom property listed for under $600k, and usually when one comes along, it goes fast.

Case in point: last week, an updated 3 bedroom/2 bathroom townhouse with almost 1,600 square feet was listed at 3038 Day Avenue for $565,000 ($354/sf).  The property was built in 1970 but had been renovated extensively (including impact glass), and is located in a small gated community with a heated pool and two assigned parking spaces.  When I contacted the agent only 3 days later, she informed me that the property was already under contract, having received multiple cash offers and dozens of inquiries within one day of the listing going up!  Hopefully we will see more affordable listings coming to market in the coming months, as buyers are ready and willing to jump on these types of opportunities.

If you are a buyer interested in Coconut Grove, it is critical to work with an experienced Realtor who knows the neighborhood inside and out, understands the market, and is connected to the community.  As a Coconut Grove resident specialist, it would be my pleasure to help you through this process.  Similarly, if you own a home in Coconut Grove and you are interested in selling or learning about the current value of your home, please contact me at any time.  I can be reached directly at 305.799.2124 or LRubens@bhsusa.com.

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).

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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.

Sneak Peek: New Listing in Center Coconut Grove

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Cocogrove Villas
3 beds/2.5 baths | 1,818 sf | Asking $3,550/month

Here’s a sneak peek of my new rental listing in the heart of Center Coconut Grove!  This townhouse is located in a beautiful gated community of 7 units, just off of Bird Ave. and Matilda St.  The townhouse has 3 bedrooms, 2.5 bathrooms and 1,818 square feet.

This townhouse is an end unit and features a lush patio area as well as a 1-car garage and an additional assigned parking space.  Additionally, the unit comes tastefully furnished – just bring your clothes and toothbrush!  The asking price is $3,550 per month and the property will be available for a year lease beginning March 2015.

More photos to come – stay tuned!  In the meantime, contact me directly at 305-799-2124 or lindsayrubens@avatarflorida.com for more info or for a private showing.