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.

Nation Saw Rapid Townhouse Growth in 2018

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The national market for townhouses is up 24 percent over the last four quarters of data production of townhouses, according to the National Association of Home Builders (NAHB). In fact, the townhouse market is growing eight times as fast as the overall single-family market.

Across the nation, the NAHB points to rising construction and land costs, as well as soaring prices for new single-family homes, as some of the reasons why builders and buyers are turning to the high-density urban model.

Locally, in Center Coconut Grove, we see more townhouse resales than new construction simply because of the lack of available land. Yet, the demand for both townhouse resales and new construction sales remains strong in Coconut Grove as more and more homebuyers (millennials and empty nesters alike) desire the Grove’s central location, as well as a mix of suburban and urban elements that the Grove provides.  Additionally, many buyers find that the townhouse provides more bang for your buck in Miami, where single family home prices skyrocketed in recent years.

Below are some of the available townhouse listings in Coconut Grove. For more information about buying or selling a townhouse in Coconut Grove or the surrounding neighborhoods, contact me directly at 305.799.2124 or LRubens@bhsusa.com.

 

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Miami Home Sales Volume and Price Grew in 2018

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Miami-Dade County reported 12,931 single-family home sales in 2018, up 1.1% from 2017, according to the MIAMI Association of Realtors and the Multiple Listing Service (MLS) system.

This figure ranks 2018 as the fourth highest year in county history for the sale of single-family homes; according to the report, only in 2014, 2015 and 2016 did Miami see more single family home sales (the Miami Association of Realtors and the MLS have been tracking these figures since 1994).

Existing condo closings increased 5.6% to 13,863 in 2018, marking the sixth best sales year in history despite competition from the new construction condo boom.

Total residential sales volume jumped 10.7% to $12.4 billion, up from $11.2 billion in 2017.

According to the report, lack of supply in certain price ranges and neighborhoods as well as higher interest rates impacted sales.

Other notable takeaways from the report include:

  • The $300,000 to $600,000 range proved to be the most popular price point for Miami single-family homes in 2018, posting a 15.7% increase in sales year-over-year, increasing from 5,448 sales in 2017 to 6,303 in 2018.
  • The luxury segment ($1 million+) also proved to be a hot sector for single-family homes, increasing 15.9% in 2018 from 878 to 1,018 sales.
  • In 2018, cash deals represented 37.8% of Miami’s total closed sales, a decrease from 40.4% in 2017 (51.3% of  all condo closings were made in cash, while 23.3% of all single family home sales were cash deals).

Read the full report here.

Featured: Blog Post in Miami Agent Magazine

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You may recall my “agent snapshot” in Miami Agent Magazine earlier this month.  Well, I’m excited to share that I am back on the site today with a new blog post!  The post is titled “3 Reasons Why Follow-Up is Critical,” and I share some of the ways that follow-up can assist real estate agents in bettering their business.  Click here to read the full post, and be sure to check back from time to time – you may be seeing me more often! 😉