A Comprehensive analysis of Coconut Grove Luxury Homes – Quarter 1, 2015
The Comprehensive Analysis of Luxury Homes in Coconut Grove
The comprehensive analysis outlines the Coconut Grove luxury real estate market. This research focuses on the Coconut Grove luxury homes and it includes only those truly luxury properties with a sales price of $2M or more.
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Average sales prices per Sq.Ft for luxury homes in Coconut Grove – Q1 2015
North Coconut Grove
In Q1 2015 the only two North Grove homes that sold were waterfront homes, therefore causing the prices in Q1 2015 to significantly shift upwards. In the overview below you can see the actual sales prices (per Sq.Ft) and the amount of sales (amount of homes) in North Coconut Grove. In the North Grove prices have grown steadily over the past years with a big jump from 2013 to 2014. As in 2015 only two waterfront homes sold, little can be said about price changes. It is significant to see that in 2014 a much higher amount of Coconut Grove Luxury homes sold compared to previous years. 2015 Seems to be going at a good speed to sell at least an equal, if not higher, amount of Luxury homes than in 2014
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South Coconut Grove
In the overview below you can see the actual sales prices (per Sq.Ft) and the amount of sales in South Coconut Grove. As you can see in Q1 2015, one $11M property sold which made the average prices increase significantly. Without taking into account this particular sale, the average sales price per Sq.Ft would be $573.
The South Grove is showing rising prices, although waterfront properties have remained steady in price over the last few years. In 2014, the amount of luxury homes that sold in South Coconut Grove seemed to be skyrocketing.
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Months of inventory for luxury homes in Coconut Grove
For the months of inventory of Coconut Grove luxury real estate we combined South and North Coconut Grove.
Looking at the inventory levels of luxury properties elsewhere in Miami, Coconut Grove shows a lower level of inventory for luxury properties (see graph below in section “Comparing the Coconut Grove Luxury Real Estate Market“).
The luxury property market always sees higher inventory levels than the more affordable properties therefore numbers here are higher than what you might normally see in our analytical reports.
Closed sales and Pending sales of Coconut Grove Luxury Homes in Q1 2015
In the overview below you can see which Coconut Grove luxury properties sold and which ones where under pending sales in Q1 2015
Comparing the Coconut Grove Luxury Real Estate Market with Luxury Real Estate in other areas
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