A Comprehensive analysis of Coconut Grove Luxury Homes – Quarter 2, 2015

The Comprehensive Analysis of Luxury Homes in Coconut Grove

What is the status of Coconut Grove Luxury Homes in Q1 and Q2 of 2015

♦ Average prices  ♦ Price changes  ♦ Inventory levels

Coconut Grove luxury homes are very desired because the area is safe, family friendly, close to Miami’s best private schools and often located in gated communities on waterfront lots. For a personalized search of Coconut Grove Luxury Homes for sale call me at +1 305 508 0899. This 5 bedroom home on Poinciana is now for sale for $3,395,000.

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⇒ The luxury real estate market in Pinecrest
⇒ The luxury real estate market in Coral Gables
⇒ The luxury real estate market in Ponce Davis

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.

This 5 bedroom home in the sough after gated community of the Moorings is now listed for $6,250,000. Contact me for more information about listings in Coconut Grove’s exclusive gated communities.

Average sales prices per Sq.Ft for luxury homes in Coconut Grove – Q1 and Q2 2015

North Coconut Grove

The average sales prices for luxury homes in North Coconut Grove – divided into all homes, waterfront homes and non-waterfront homes.

The average sales prices per Sq.Ft in Q1 vs Q2 of 2015. The average sales price for North Grove luxury home in the first half year of 2015 is $602 per Sq.Ft.

In the first half year of 2015, 4 luxury properties sold in North Coconut Grove. Two of these homes were waterfront and two were non-waterfront.  The average price per Sq.Ft in North Coconut Grove increased  compared to 2014 for both waterfront and non-waterfront homes. The North Grove has long been the more affordable part of Coconut Grove, but in 2015 we see that the North Grove is catching up with its Southern counterpart.

In the overview below you can see the actual sales prices (per Sq.Ft) and the amount of luxury homes sold in North Coconut Grove. In the North Grove, prices have grown significantly over the past years and it seems more and more multi-million dollar properties are being sold year after year.

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Sales prices, sales prices per Sq.Ft and amount of luxury homes sold in North Coconut Grove from 2011 till 2015.

South Coconut Grove

The average sales prices for luxury homes in South Coconut Grove – divided into all homes, waterfront homes and non-waterfront homes.

The average sales prices per Sq.Ft in Q1 vs Q2 of 2015. The average sales price for South Grove luxury homes in the first half year of 2015 is $605 per Sq.Ft.

The South Coconut Grove luxury market seems to be more steady in price levels than the North Grove.  While prices in South Coconut Grove declined slightly in 2014, the South Grove luxury market is showing an increase in average sales prices in the first half year of 2015.

In the overview below you can see the actual sales prices (per Sq.Ft) and the amount of luxury homes sold in South Coconut Grove.

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Sales prices, sales prices per Sq.Ft and amount of luxury homes sold in South Coconut Grove from 2011 till 2015.

Months of inventory for luxury homes in Coconut Grove

The luxury property market always sees higher inventory levels than the more affordable properties, therefore the number of months indicated here might be higher than what you normally see in our analytical reports. The Coconut Grove luxury market however, shows declining inventory levels in 2015 compared to the last half year of 2014.  The market offers lower month of inventory, which is a favorable sign for sellers.

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 months of inventory for Coconut Grove luxury homes

Closed sales and Pending sales of Coconut Grove Luxury Homes in Q2 2015

In the overview below you can see which Coconut Grove luxury properties sold and which ones where under pending sales in Q2 2015

Sold luxury homes in Q2 2015 in North and South Coconut Grove.

Luxury homes under pending sales in Q2 2015 in North and South Coconut Grove.

Comparing the Coconut Grove Luxury Real Estate Market with Luxury Real Estate in other areas

The average sales price per Sq.Ft for Miami’s luxury properties.

The months of inventory of luxury homes in Pinecrest, Coconut Grove, Coral Gables and Ponce Davis combined

 

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