A Cocoplum Real Estate Market Update – September 2016
What is new in the Cocoplum Real Estate Market
We have been talking a lot about sales in Cocoplum reaching record highs. We already know that in July the closed sale of 9 Tahiti Beach shattered all previous record numbers in Cocoplum.
But we do have to separate the waterfront and the dry lot Cocoplum homes that sold.
We have been keeping our eye on 139 Rosales, which went pending on July 18 with a price tag $4.9M. Well, the wait is over as it just closed last week at $4.1M. The $705 per SF value puts this at the top of any closed sale on a dry lot in Cocoplum. The previous high was 8020 Los Pinos Blvd, which sold at $629 per SF last May.
The 5,813 sqft home, which was completely remodeled in 2015, has 6 bedrooms and 6.5 bathrooms and sits on a 16,000 sf lot. As I mentioned in a previous blog remodeled homes add an enormous value to Cocoplum Homes.
The market of Cocoplum homes for sale are among the best values in Coral Gables. These homes can withstand a high sales price, plus renovations and updates without the risk of over improvements. Now the issue we will have is when sellers try to get the same value of these new updated homes for their dated homes that need major work.
It is very important for sellers to be realistic. Even in a crowded space – (as is the $2M+ luxury market) homes that are priced right and sellers willing to play ball are reaping great benefits as we continue to see movement and record high sales within the community.
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