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It is that time of year again. The time at which I compile and analyze all of the sales in Coconut Grove (per MLS data) over the last year and look at where our community is trending.
As most of you know, I am a Groveite through and through. I met my wife in the Grove, was married in the Grove (St. Hugh), my reception was in the Grove (Villa Woodbine), I live in the Grove (Center Grove), and I am the Senior Director of Luxury Sales at Douglas Elliman in our Grove office on SW 27th Avenue.
Arguably, many have speculated that Miami has been in a “down” market for a while. Well, it looks like Coconut Grove isn’t listening as it completely destroyed all other South Florida markets in 2017. Here are some takeaways from the 2017 numbers:
In 2017, we saw 2 new real estate records set:
A further look back…
In 2013, the average closed sales price per sq/ft for the entire Grove was $314.07. In 2017, that number was $430.20. That is an increase of 37% over the past 4 years!
In 2013, the average closed sales price for the entire Grove was $688,418. In 2017, that number was $1,102,855. That is an increase of 60.2% over the past 4 years!
Below, I have laid out all of the 2017 Coconut Grove real estate statistics and then a year-over-year comparison of 2017 versus 2016.
2017 Coconut Grove Real Estate Sales by the Numbers:
Download: ALL 2017 Coconut Grove Closed Sales
2017 vs. 2016 ALL Coconut Grove Sales Year-Over-Year Numbers:
Coconut Grove Neighborhood Map
To local Groveites looking to sell, and buyers purchasing property in Coconut Grove, I have broken down the statistics of the different areas of the Grove. 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).
2017 vs. 2016 NORTH Coconut Grove Sales by the Numbers:
Download: 2017 North Coconut Grove Closed Sales
2017 vs. 2016 SOUTH Coconut Grove Sales by the Numbers:
Download: 2017 South Coconut Grove Closed Sales
2017 vs. 2016 CENTER Coconut Grove Sales by the Numbers:
Download: 2017 Center Coconut Grove Closed Sales
2017 vs. 2016 WEST Coconut Grove Sales by the Numbers:
Download: 2017 West Coconut Grove Closed Sales
If you, or someone you know, would like to purchase or sell real estate in Coconut Grove, please contact me, Michael Light, Founder/Owner of the Miami Luxury Homes group at Douglas Elliman Real Estate. 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 Grove office at 305-350-9842, on my cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.
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