The 8 Reasons to Buy Real Estate in Coconut Grove

A top 8 on why Coconut Grove is such a great investment area and why to buy Coconut Grove real estate

Many of you might have read our latest article in the Miami Herald about the Brickell market and its shift in the supply-and-demand curve. For a very long time every buyer focused on condos and specifically Brickell condos. Brickell was the gold mine for many buyers from all over world and units sold like hot cakes.

The Brickell market has changed considerably in the last years. Latin American investors are holding back and inventory in Brickell is seeing record levels of 25+ months. Although prices are still increasing, the upward trend is slowing down and eventually prices will need to be adjusted. At the same time Miami’s newest investment hotspot Edgewater also reached record prices in a short period of time. The questions many buyers ask me now is “What is next, where should I buy Miami real estate”?

Our answer: “Have a look at Coconut Grove Real Estate“.

The 8 Reasons to Buy Real Estate in Coconut Grove A top 8 on why Coconut Grove is such a great investment area and why to buy Coconut Grove real estate DSG

Quick recap on our article in the Miami Herald on Brickell’s changing market dynamics 

Brickell’s skyline is changing and as it does, so too is the supply-and-demand curve for condos in what is touted as Miami’s fastest-growing hub. The struggles of the Latin American economies coinciding with an increase in inventory saw a slowing in sales as well as an average price per square foot correction. Last year was one of change for Brickell’s residential real estate market, and 2016 will be pivotal. Read the entire article

Business-Monday-Miami-Herald-250x300

8 Reasons why to buy Coconut Grove Real Estate
Why buying Coconut Grove Real estate?

1. A single family home market with a high demand and low supply

The single family home market in Coconut Grove is showing a healthy level of inventory and a steady price increase. On the right hand side , you can see a graph showing the price per Sq.Ft evolution in the last few years indicated for properties with a value of above or below $1,5M.  The current inventory in Coconut Grove shows an average of 10 months which indicated a weak buyer’s market. Between 6 and 9 months of inventory we speak of a balanced market while 10+ months is a buyer’s market.

The demand for Coconut Grove homes is large. Many families want to raise their kids in this tranquil and safe area and they would like to live near the best private schools this country has to offer.

Many families that buy Coconut Grove real estate stay in their property for a longer period of time resulting in a supply that isn’t always keeping up with the demand.

Thinking of the future, we see the ever increasing population in Brickell that at one moment in time will want to start a family and move into a single family home. Many of these young professional work in Brickell or Coral Gables and Coconut Grove is the most logical next step for these young professionals. This next generation of young families keeps the demand for Coconut Grove homes high.

The 8 Reasons to Buy Real Estate in Coconut Grove
The 8 Reasons to Buy Real Estate in Coconut Grove

2. Coconut Grove Gated Communities

The demand for gated communities has always been high as the exclusivity and safety of these communities appeal to many. There are communities in the Grove where no single home has been sold in the last 2 years yet many people are anxiously waiting for a listing to appear. Many gated communities in Coconut Grove are waterfront and offer amenities like tennis courts and 24/7 surveillance.

Read our community reports on the below Coconut Grove Gated Communities:

Entrada Estates
The Moorings
Hughes Cove

3. A limited inventory of luxury condos

Certainly, Coconut Grove has a very different dynamic to the Brickell Condo Market. Coconut Grove has a very limited supply of high-end condos and the ultra-luxury market was non existing before Park Grove and Grove at Grand Bay were announced. The demand for such luxury condos is very much present as can be seen from the success both condo projects have in selling their units.

Coconut Grove is exclusive and it is the new place to be. According to the Wall Street Journal, the Grove has seen a true transition from Birkenstocks to Billionaires in the last few years and this ‘Bohemian chic’ part of Miami is now where everyone wants to be.  The demographic that buys in the Grove is primarily looking for a primary residence and not for merely an investment.

 Park Grove

A bayfront luxury condo | 50,000 Sq.Ft of amenities | 3 luxury towers
Tower 3 from $660,000 | Tower 2 from $2,25M | Tower 1 from $4,2M

Grove at Grand Bay

Two Luxury Condo Towers with only 98 unique residences
12 Ft high ceilings | 12 Ft deep terraces
5 Star Services and Amenities
Pre-construction phase is sold out – Contact me for resale opportunities

Park Grove

Grove at Grand Bay

We are the preferred realtors in Coconut Grove

David Siddons knows the Grove like the back of his hand. We are know for our analytics and resourcefullnes in getting the deal done. Please click on the link to see why the David Siddons Group is seen as the best realtor in Coconut Grove by our clients.

We are the preferred realtors for Park Grove

We can provide you with the latest prices, the floor plans, the residence information and more importantly we know how this condo compares to all other Miami condos.
.
.

4. Buying a Coconut Grove Townhome

Coconut Grove town homes are scarce yet very sought after. As most single family homes in Coconut Grove surpass the $1M rank, most young families prefer the more affordable step into a townhouse.

Most of these typical Coconut Grove townhomes areoffering 3 bedrooms / 2,5 bathrooms and around 2,200/2,300 Sq.Ft of living area. As townhouses are very scarce, prices have been increasing over the last few years. The inventory in Coconut Grove townhomes has been ranging from 4-8 months for a while now indicating a neutral market, with a tendency to be a sellers market.

More about Coconut Grove Townhomes and their return on investment on the rental market

The 8 Reasons to Buy Real Estate in Coconut Grove
The 8 Reasons to Buy Real Estate in Coconut Grove

8 Reasons why to buy Coconut Grove Real Estate
Why should you like to live in Coconut Grove?

5. Coconut Grove offers high-end living

Coconut Grove is a small and laid back village in Miami with a bohemian-chic vibe to it.  The Grove is pre-dominantly a single family home market and offers a wide variety of homes from cozy Bahamian, timber frame conch houses to multi-million dollar mansions in gated and waterfront communities. Coconut Grove is known for its lush vegetation and tree-lined streets. The Grove’s center offers some vibrant restaurants and bars where locals like to gather during the weekends.

Coconut Grove – From Birkenstocks to Billionaires

6. Safety

This 24/7 police controlled area has been named the safest area in Miami by the Miami Dade police.

Partially because of its safe environments, the Grove is known for its walkability. The core of the Grove – centered around Cocowalk – is home to many little boutiques, art galleries, ice cream parlors and cozy little lunch rooms and restaurants. During the weekends many Grovites can be found here.

 

7. Good private and public schools

The Grove is home to some of Miami’s best schools. Read more about schools in Coconut Grove

 

8. Geographic location

 The Grove is ideally located in the center of it all. You are minutes away from the financial center in Brickell as well as 5-10 minutes from Coral Gables‘ commercial and business districts.

The 8 Reasons to Buy Real Estate in Coconut Grove A top 8 on why Coconut Grove is such a great investment area and why to buy Coconut Grove real estate DSG
The 8 Reasons to Buy Real Estate in Coconut Grove A top 8 on why Coconut Grove is such a great investment area and why to buy Coconut Grove real estate DSG

For more information about the Coconut Grove real estate market contact the David Siddons Group today

David Siddons. | 305.508.0899 | David@siddonsgroup.com

WHY WORK WITH DAVID? THINGS YOU SHOULD KNOW...

For all our analytics we are agents driving some very unique and advanced tech. We Provide a granular and custom experience that empower our clients with the insight and tools to understand the most complex behaviors of any local markets.

  • Analytical

    Over 100 reports produced to date

  • Knowledgeable

    Over 1800 published articles and counting

  • Experienced

    Over $2 billion in real estate sales

    Reviews
David Siddons
blog
Akbota YerseitAkbota Yerseit
13:29 03 Jun 22
Excellent leaders!
Cathryne HaladnerCathryne Haladner
12:12 18 Sep 21
We have only superlatives to describe how wonderful Cris Buzolin was throughout the process of selling our townhouse in Coral Gables. We were away in the UK while the transaction was taking place and Cris handled everything-from clearing out our house, selling contents when she could, arranging the moving and storage and dealing with some very difficult problems which arose. Always patient and very willing to help in every way, Cris is a consummate professional who really cares about her clients and worked extremely hard to get the price we had asked for and make things for us as easy as she could. Nothing was too much for her to handle.Cris and Marianela (who provided additional very helpful assistance to us during the transaction) are part of the team that David Siddons has assembled.When we decided to sell our property, we contacted David and he established the framework for the transaction and ensured that everything proceeded smoothly and in accordance with our wishes. In sum, David Siddons and his team are extremely competent and professional and we are totally satisfied with the service they provided. To repeat, Cris Buzolin in particular, went way beyond what one would expect from a real estate agent. The David Siddons Group has our highest recommendation!
Jose Eduardo FilhoJose Eduardo Filho
17:17 13 Jul 21
I thank the whole team and especially Cris Buzolin who, in a very professional and competent way, helped me to sell my property safely and in the best market condition.
Idan Singh (Idan)Idan Singh (Idan)
19:53 07 Jun 21
Great Service for British Expats looking to move to the States.
Simone GarrettSimone Garrett
17:20 26 Feb 21
Fantastic group of people to work with!! David and Adriana were responsive and professional throughout the entire process. We weren't familiar with South Florida so David took us under his wing and did a fabulous job giving us a tour of select neighborhoods in South Florida and shared a great deal of information about each. We fell in love with the Botaniko community in Weston and closed the deal with Adriana. If you are buying/selling this is the team you want to work with!! Thank you guys for helping us find our dream home.
js_loader