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The Coconut Grove real estate market is booming and has risen rapidly in the past few years, with the median sales price jumping 17.5% from 2014 to 2015 and a staggering 28.9% from 2013. In fact, I was interviewed by the Wall Street Journal (WSJ) last week for their article “Miami’s Coconut Grove Grows from Birkenstocks to Billionaires,” wherein the WSJ brags about the remarkable growth of the housing market in the Grove.
Furthermore, the Coconut Grove real estate market in 2015 saw 492 closed sales – down 92 from 2014; however, the average Coconut Grove closed sales price in 2015 was $934,114 which equals $397.55 per square foot and was 94% of the average list price. The most expensive closed sale of 2015 in the Grove was LeBron James’ former Coconut Grove waterfront home which sold for $13,400,000 at $1,100.35 per square foot. This sale shattered the average Coconut Grove sales price per square foot by $702.80. The buyers of 3590 Crystal View Court were Timo and Nathalia Kipp, the owners of Mayfair in the Grove.
Below, I have laid out all of the 2015 Coconut Grove real estate statistics and then a year-over-year comparison of 2015 versus 2014.
2015 Coconut Grove Real Estate Sales by the Numbers:
Download: ALL 2015 Coconut Grove Closed Sales
2015 vs. 2014 Coconut Grove Sales Year-Over-Year Numbers:
Coconut Grove Neighborhood Map
To local Groveites and investors interested in purchasing property in Coconut Grove, whether as a personal or business investment, I have broken down the statistics of the different areas of the Grove since Coconut Grove is locally referred to in parts, i.e. North, South, Center and West (for example, CocoWalk and the Mayfair Hotel & Spa are both located in Center Grove and Kennedy Park is located in North Grove).
2015 vs. 2014 NORTH Coconut Grove Sales by the Numbers:
Download: 2015 North Coconut Grove Closed Sales
2015 vs. 2014 SOUTH Coconut Grove Sales by the Numbers:
Download: 2015 South Coconut Grove Closed Sales
2015 vs. 2014 CENTER Coconut Grove Sales by the Numbers:
Download: 2015 Center Coconut Grove Closed Sales
2015 vs. 2014 WEST Coconut Grove Sales by the Numbers:
Download: 2015 West Coconut Grove Closed Sales
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.
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