2014 Coconut Grove Real Estate Statistics

 
The Coconut Grove real estate market in 2014 saw 584 closed sales – almost the same number as in 2013.  Moreover, the average Coconut Grove closed sales price in 2014 was $779,988 which equals $357.46 per square foot and was 94% of the average list price.  The most expensive closed sale of 2014 in the Grove was a luxury condo at the prestigious Grovenor House which closed for $8,600,000 at $1,233.86 per square foot.  This condo at Grovenor House shattered the average Coconut Grove sales price per square foot by $876.  Unbelievable!  Looks like the Coconut Grove real estate market is back, which is outstanding news to not only residents of the Grove but also to Coconut Grove developers.

Below, I have laid out all of the 2014 Coconut Grove real estate statistics and then a year-over-year comparison of 2014 vs. 2013.

2014 Coconut Grove Real Estate Sales by the Numbers:

• Total Number of Sales: 584
• Average List Price: $829,753
• Median List Price: $595,000
• Average Sales Price: $779,988 (94% of List Price)
• Median Sales Price: $574,500 (96.6% of List Price)
• Average Sales Price Per SQ/FT: $357.46
• Median Sales Price Per SQ/FT: $320.73
• Days on Market: 89 Average / 54 Median
• Highest Priced Sale of 2014: Grovenor House Unit 3001 Closed on 11/11/2014 @ $8,600,000 ($1,233.86 per sq/ft)
• Lowest Priced Sale of 2014: Mayfair Hotel Unit 404 Closed on 02/07/2014 @ $15,000 ($38.46 per sq/ft)

Download the 2014 Coconut Grove Real Estate Sales Data

2014 vs. 2013 Coconut Grove Sales Year-Over-Year Numbers:

• Total Number of Sales: DOWN 6 | 584 in 2014 vs. 590 in 2013
• Average List Price: UP $83,492 | $829,753 in 2014 vs. $746,261 in 2013
• Median List Price: UP $45, 055 | $595,000 in 2014 vs. $549,945 in 2013
• Average Sales Price: UP $91,570 (+13.3%) | $779,988 in 2014 vs. $688,418 in 2013
• Median Sales Price: UP $50,750 (+9.7%) | $574,500 in 2014 vs. $523,750 in 2013
• Average Sales Price Per SQ/FT: UP $43.39 (+13.8%) | $357.46 in 2014 vs. $314.07 in 2013
• Median Sales Price Per SQ/FT: UP $19.89 (+6.6%) | $320.73 in 2014 vs. $300.84 in 2013

Coconut Grove Neighborhood Map

So, above I have given you the overall statistics of the real estate sales in Coconut Grove during the 2014 year and the year-over-year comparison.  To local Groveites and investors interested in purchasing property in the Grove as a personal or business investment, I have broken down the statistics of the different parts of the Grove since Coconut Grove is locally referred to in parts, i.e. North, South, Center and West (for example, CocoWalk is in Center Grove).

2014 vs. 2013 NORTH Coconut Grove Sales by the Numbers:

• Total Number of Sales: 157 in 2014 / 181 in 2013
• Average List Price: $1,226,231 in 2014 / $951,921 in 2013
• Median List Price: $935,000 in 2014 / $750,000 in 2013
• Average Sales Price: $1,150,489 in 2014 / $893,901 in 2013 (UP 28.7%)
• Median Sales Price: $910,000 in 2014 / $725,000 in 2013 (UP 25.5%)
• Average Sales Price Per SQ/FT: $432.65 in 2014 / $373.79 in 2013 (UP 15.7%)
• Median Sales Price Per SQ/FT: $377.61 in 2014 / $356.84 in 2013 (UP 5.8%)
• Days on Market: 85 Average / 47 Median in 2014
• Highest Priced Sale of 2014: Grovenor House Unit 3001 Closed on 11/11/2014 @ $8,600,000 ($1,233.86 per sq/ft)
• Lowest Priced Sale of 2014: Coco Palm Condo Unit 10 Closed on 02/03/2014 @ $65,000 ($128.21 per sq/ft)

Download the 2014 NORTH Coconut Grove Real Estate Sales Data

2014 vs. 2013 SOUTH Coconut Grove Sales by the Numbers:

• Total Number of Sales: 74 in 2014 / 83 in 2013
• Average List Price: $1,521,166 in 2014 / $1,484,273 in 2013
• Median List Price: $1,222,500 in 2014 / $1,050,000 in 2013
• Average Sales Price: $1,407,081 in 2014 / $1,300,994 in 2013 (UP 8.2%)
• Median Sales Price: $1,112,500 in 2014 / $998,000 in 2013 (UP 11.5%)
• Average Sales Price Per SQ/FT: $427.80 in 2014 / $370.88 in 2013 (UP 15.3%)
• Median Sales Price Per SQ/FT: $402.33 in 2014 / $361.52 in 2013 (UP 11.3%)
• Days on Market: 105 Average / 62 Median in 2014
• Highest Priced Sale of 2014: 3501 Anchorage Way Closed on 08/01/2014 @ $5,460,000 ($619.54 per sq/ft)
• Lowest Priced Sale of 2014: 4071 Barbarossa Avenue Closed on 05/02/2014 @ $465,000 ($292.45 per sq/ft)

Download the 2014 SOUTH Coconut Grove Real Estate Sales Data

2014 vs. 2013 CENTER Coconut Grove Sales by the Numbers:

• Total Number of Sales: 240 in 2014 / 229 in 2013
• Average List Price: $490,513 in 2014 / $409,952 in 2013
• Median List Price: $422,000 in 2014 / $350,000 in 2013
• Average Sales Price: $466,535 in 2014 / $386,761 in 2013 (UP 20.6%)
• Median Sales Price: $406,250 in 2014 / $345,000 in 2013 (UP 17.8%)
• Average Sales Price Per SQ/FT: $330.05 in 2014 / $285.23 in 2013 (UP 15.7%)
• Median Sales Price Per SQ/FT: $305.10 in 2014 / $272.97 in 2013 (UP 11.8%)
• Days on Market: 84 Average / 53 Median in 2014
• Highest Priced Sale of 2014: 3506 Main Lodge Drive Closed on 02/04/2014 @ $2,200,000 ($638.79 per sq/ft)
• Lowest Priced Sale of 2014: Mayfair Hotel Unit 404 Closed on 02/07/2014 @ $15,000 ($38.46 per sq/ft)

Download the 2014 CENTER Coconut Grove Real Estate Sales Data

2014 WEST Coconut Grove Sales by the Numbers:

• Total Number of Sales: 113 in 2014 / 97 in 2013
• Average List Price: $582,116 in 2014 / $530,584 in 2013
• Median List Price: $499,900 in 2014 / $399,000 in 2013
• Average Sales Price: $552,069 in 2014 / $498,345 in 2013 (UP 10.8%)
• Median Sales Price: $499,000 in 2014 / $405,000 in 2013 (UP 23.2%)
• Average Sales Price Per SQ/FT: $263.33 in 2014 / $225.56 in 2013 (UP 16.7%)
• Median Sales Price Per SQ/FT: $249.44 in 2014 / $218.62 in 2013 (UP 14.1%)
• Days on Market: 94 Average / 62 Median in 2014
• Highest Priced Sale of 2014: 3314 Devon Court Closed on 05/02/2014 @ $3,950,000 ($400.53 per sq/ft)
• Lowest Priced Sale of 2014: 3516 Plaza Street Closed on 10/15/2014 @ $67,500 ($116.78 per sq/ft)

Download the 2014 WEST Coconut Grove Real Estate Sales Data

If you, or someone you know, would like more information on real estate in Coconut Grove, please contact me, Michael Light of Miami Luxury Homes. I am a resident of Coconut Grove and have direct knowledge of the Coconut Grove real estate market.  You may reach me directly at my office at 305-350-9842, on my cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.

Disclaimer: The statistics referenced herein were retrieved from the Multiple Listing Service (MLS) on January 22, 2015.  Any closed sales not listed in the MLS are not included in the statistics referenced herein. The MLS search criteria used was 33133 zip code + map outline + city not equal to “Coral Gables.”  The statistics separated into North, South, Center and West Grove were separated according to the map shown above and may not be accurate.  In addition, the information contained herein is for informative purposes only and should not be relied upon.