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    Everything You Need to Know About Relocating to Coconut Grove

    May 9, 2017

    Are you moving to Coconut Grove? Then this is a must-read for you!

    Miami has gained much in desirability in the last few years and Coconut Grove is one of the areas that saw the highest demand. From all around the world, families are looking to move to Coconut Grove. The Grove is safe, offers great schools, is centrally located and provides for some of Miami’s most exclusive real estate.

    Moving to Coconut Grove – Why so many other families choose for the Grove!

    As you found this page, you probably already decided the Grove was the right place for you. For those who have just heard of Coconut Grove being a great place to live, here are the reasons why this part of Miami is so desired with families.

    Coconut Grove is one of Miami’s safest places to live. The area enjoys 24/7 police control and has one of Miami’s lowest crime rates. Besides offering many gated or walled homes, the Grove also offers a good amount of (waterfront) gated communities for those seeking the highest form of protection for the family.

    The Grove is ideal for families with children as this neighborhood is also well-known for its excellent private schools. A few of Miami Dade’s most prestigious private schools are located in Coconut Grove: St Stephens (Pre-Kinder till grade 6), Carrollton School of the Sacred Heart (Pre-Kinder till grade 12) and Ransom Everglades (Grade 6 till grade 12).

    Another reason why Coconut Grove homes for sale are so in demand is the central location of the Grove compared to business centers like Coral Gables and Brickell. From the Grove you reach almost all of Miami within 15 minutes including Miami International Airport.

    For those that want to know everything about the charm of living in Coconut Grove please read our 8 reasons why you should buy real estate in Coconut Grove as well as our blog on why Coconut Grove is so desired with wealthy families.

    Everything You Need to Know About Relocating to Coconut Grove

    What you need to know before moving to Coconut Grove

    Coconut Grove Real Estate

    Renting vs buying

    When moving to a new city you might be torn between renting and buying. In order to make this choice you should know the different price ranges of Coconut Grove real estate both for renting as well as for buying.

    Coconut Grove’s real estate is very desired with buyers for the many reasons mentioned in the paragraph above and in our previously referred article about Coconut Grove. In the last few years the demand overshadowed the supply, which resulted in an increase of the prices. Coconut Grove is one of Miami’s top 3 preferred residential areas and Coconut Grove homes for sale are much desired by families . Homes in North Coconut Grove are often characterized by their smaller size (2,500 SF) and smaller lots (10,000 SF). The North of the Grove is characterized by small and lush streets often used as a catwalk for peacocks. The South of the Grove is known for its larger homes on larger lots. Coconut Grove homes for sale in gated communities can be found mostly in the South. New homes for sale or Coconut Grove waterfront homes for sale can be found in both the south and the north of Coconut Grove.

    The Coconut Grove townhomes for sale are in demand by young professionals or young families that want to leave the condo scene and start having more privacy. Most townhomes characterize themselves by having 3 bedrooms and approx 2,500 SF. The value of townhomes has increased considerably in the last few years and is also considered a really good investment opportunity.

    Coconut Grove condos for sale are scarce. The Grove is mostly a single-family home market and the market just recently responded to the high demand for luxury condos. Although the Grove was already home to some luxury towers like the Residences at Vizcaya, Grove Hill and Grovenor House, the two newest towers are ultra-luxurious: These condos are Park Grove and Grove at Grand Bay.

    Renting a 2 or 3 bedroom condo in Coconut Grove varies between $2,500 to $10,000+.
    $2,500 for a 2 bedroom unit in a more dated, non oceanfront condo unit and $10,000+ per month for the high-end, ocean front condos that are well finished and offer ocean views.
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    Renting a 3 Bedroom townhome in Coconut Grove varies between $3,000 to $7,500 per month. $3,000 per month for the more dated and smaller townhomes, $7,500 for the larger townhomes, that are well finished, well located and offer a pool.
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    Renting a single-family home in Coconut Grove varies between $4,000 and $12,000+ per month. $4,000 for older, smaller 3 bedroom homes and $12,000 for large mansions with 4+ bedrooms. Rental prices can go up to $50K per month in case of the really exclusive gated and waterfront mansions.

    Start looking for rentals in Coconut Grove. This link provides you with homes, condos and townhomes starting from the highest price to the lowest. You can use the filters to customize your own search

    Buying a condo in Coconut Grove varies between $350,000 to $20M+. $350,000 for the smaller, more dated condos without ocean views. This can be a well done 1 bedroom or a slightly dated 2 bedroom unit. The very desired condos are located along South Bayshore Drive and offer large, luxurious condos with superb bay views. These are selling from $750,000 to $20M+. The condo market in Coconut Grove recently introduced two ultra-luxurious new condos that offer very large units and the latest and more exquisite in amenities and services. These condos are Park Grove and Grove at Grand Bay.

    Buying a townhome in Coconut Grove varies between $500,000 and $1M depending on the size, location and general upkeep of the townhome.

    Coconut Grove homes vary between $750,000 and multi-million dollar properties. The smaller, often dated homes in the North Grove might be selling for $750,000 and will need some remodeling or updating. The South Grove generally offers larger homes on larger lots. The streets are less lush and homes are more contemporary. Most homes in Coconut Grove are listed between $1,5 and $2M. The waterfront homes or homes in gated communities are listed for $2M+.

    A market update on the Coconut Grove home market in Q1 2017
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    Start looking for Listings in Coconut Grove. This link provides you with homes, condos and townhomes starting from the highest price to the lowest. You can use the filters to customize your own search

    David Siddons is a top producing real estate agent who lived and worked for more than 10 years in Coconut Grove. David loves to talk real estate and knows everything about moving to Miami and establishing a family in our great city.

    David Siddons | David@SiddonsGroup.com | +1.305.508.0899

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    THE 2018 MIAMI REAL ESTATE REPORT

    EX-STOCKBROCKER’S ANALYSIS OF THE MIAMI MARKET

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