Investing in Miami Real Estate – Investors Guide to Coconut Grove: The Full Neighborhood Analysis
The original article was written in 2013. For the most recent and up to date information on the Coconut Grove real estate market, Coconut Grove news or Coconut Grove real estate for sale, please use the orange buttons below.
David Siddons | 305.508.0899
After many requests I decided to create an Investors Guide to Coconut Grove, just like I did for Brickell and Downtown Miami. As I live and manage a great amount of deals in the Grove I have a lot of knowledge of the area.
Although most of you will know that Miami’s Real Estate Market is booming again, the purpose of this report is to provide the reader with a better and deeper understanding of the Coconut Grove Real Estate market and to support the reader’s market knowledge with facts and figures.
The 2014 Investors Guide to Coconut Grove Real Estate
See the entire Miami Investors Guide
For buyers interested in investing in Miami Real Estate this Investors Guide is an absolute MUST!
Coconut Grove offers a great quality of life. The area is very hip and features various nice events, bars and restaurants. Coconut Grove can be qualified as a tranquil and peaceful neighborhood. Most people go to Coconut Grove for the safety and the proximity to great schools. Coconut Grove is also close to both Brickell and Downtown Miami as well as Coral Gables.
In the Grove there is less rental activity than in for example Brickell, Downtown or the Beach. People who buy here, mostly buy their main residence making the area more family-friendly
The Miami Herald reported in July what I already saw in my own analysis – The prices of condos and single-family homes in Coconut Grove have returned to pre-crash values – and in some cases are going towards historic highs.
Prices at the luxurious The Grove at Grand Bay, the two-tower glass and steel structure by Danish architect Bjarke Ingels, are reaching prices of more than $1,000 per square foot. That’s a premium of as much as 66 % over the Coconut Grove’s restored average of $600 to $800 per square foot.
I analyzed the MLS data and in the last half year (Jan-July 2013) 34 Singly Family Homes have sold for more than $1 million. Four Single Family Homes have been sold for more than $2 million in the last six months
I created this investors guide to give Investors/buyers a deeper insight into the Real Estate market of Coconut Grove. Since the market here is rather diverse I created three different Guides.