Our team is committed to customer service and your experience, every step of the way
Well, 2018 is over and we are almost a month into 2019 already. As I do every January, I compile and analyze all of the sales in Coconut Grove (per MLS data – which takes me several weeks) 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 – which sadly may be torn down to make way for an all-boys school), I live in the Grove (North Grove), and I am the Senior Director of Luxury Sales at Douglas Elliman in our Grove office on SW 27th Avenue.
As always, the media loves to report, regardless of ACTUAL market conditions, that the Miami market is failing/falling/crashing/(insert scary language here). Well, the market may be slowing down and stabilizing in certain areas of Miami, but like always, Coconut Grove showed increases in many key pricing indicators in 2018. Here are some takeaways from the 2018 numbers:
In 2018, we saw a very significant real estate record set:
A further look back…
In 2013, the average closed sales price per sq/ft for the entire Grove was $314.07. In 2018, that number was $446.51. That is an increase of 42.2% over the past 5 years!
In 2013, the total sales volume for the entire Grove was $406,166,357. In 2018, that number was $511,592,369. That is an increase of 26% over the past 5 years and the first time sales volume ever broke the $500M mark for Coconut Grove!
Below, I have laid out all of the 2018 Coconut Grove real estate statistics and then a year-over-year comparison of 2018 versus 2017.
2018 Coconut Grove Real Estate Sales by the Numbers:
Download: ALL 2018 Coconut Grove Closed Sales
2018 vs. 2017 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).
2018 vs. 2017 NORTH Coconut Grove Sales by the Numbers:
Download: 2018 North Coconut Grove Closed Sales
2018 vs. 2017 SOUTH Coconut Grove Sales by the Numbers:
Download: 2018 South Coconut Grove Closed Sales
2018 vs. 2017 CENTER Coconut Grove Sales by the Numbers:
Download: 2018 Center Coconut Grove Closed Sales
2018 vs. 2017 WEST Coconut Grove Sales by the Numbers:
Download: 2018 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.
Looking for past Coconut Grove market statistic articles? Here they are:
2017 Coconut Grove Market Report
2016 Coconut Grove Market Report
2015 Coconut Grove Market Report
2014 Coconut Grove Market Report
Learn more about The Light Group
Get access to our exclusive weekly "Insider" newsletter on everything Miami!
The Miami Luxury Homes A-List
Join 5,000+ current subscribers and sign up to receive our weekly newsletter!
We will NEVER share your information
Explore Miami & Miami Beach Communities