The new Breed of Coconut Grove Townhomes For Sale is Competing with Single Family Homes
The New Breed of Coconut Grove Townhomes for Sale to Compete with the Single Family Homes under $1.5M
Inventory of Brand New Coconut Grove Homes starts at $2M
Since 2015 it has become increasingly hard to get a ‘newer’ home in the Grove for under $1.5M. Look below at the newest homes sold in the Grove under $1.5M. In fact in the last 2 years there have been just 3 sales of new single family homes in Coconut Grove. Two of these sat on Wa kee Na Dr and Secoffee Terrace, which is one block from the US1 and the other was a 2,600 SF home on Park Ave. Admittedly these properties have more yard, but they still sit on small lots and the ‘functionality’ of these is in many minds no better (nor worse) than the townhouse product. Today there is a grand total of zero new homes on the market and a buyer will have to go to to $2M to find one.
The Benefits of a Coconut Grove Townhome
I have been discussing the virtues of townhomes with clients since 2011 and the topic has just grown stronger over the years. Admittedly a townhome is not for everyone: for those who want a big yard and lots of trees, good amenities or a single level floor plan, this is not going to work. You are better off in a condo or a one-level home. But here are some of the legitimate benefits.
- The ability to have 3 – 4 bedrooms under $1.5M in a new property.
- Brand new, warrantied appliances and AC
- Very low insurance. The Grove townhomes are essentially concrete bunkers with no roof and out of the flood zone. Typical insurance is around $3,000 per year, so much less than a home and cheaper than the maintenance on a condo
- Minimal yard work. Low maintenance shrubs and plants.
- Many are within 1 block from parks.
- Most are 2-3 blocks from the heart of Coconut Grove
So please check out below some more rendering of upcoming townhomes in the Grove. These are very central and on street called Jackson Ave. You won’t find these online anywhere else (as of July 20th 2019) as this is advanced info just for our readers and if you are interested please do call or email me.