Who Are The Buyers In Today’s Market?
Categories: Coconut Grove, Real Estate News, South Florida Market Stats
hi
A frequent question I get from talking to local people about the real estate market here in Coconut Grove is “where are today’s buyers coming from?”. I cannot speak for other Realtors in town, but my experience is that there are two types of buyers right now: those that are relocating from another city, and those that are renters who are looking to take advantage of the low prices. For the most part, I am not seeing too many local residents who are looking to up size or downsize because they are stuck in their home that won’t sell.
In my recent transactions as a realtor here in Coconut Grove I have come across the following buyers.
- Buyers relocating from Washington DC | 3265 Coacoochee Street | Closed today for $715,000
- Buyers relocating from Tennessee | 3120 Day Avenue (townhouse) | Closed last month for $615,000
- Buyer was a previous local renter | 3060 Indiana Street (townhouse) | Closed last month for $515,000
- Buyer was a previous local renter | 1780 Chucunantah Road | Pended last month with list price of $499,000
My owner on Chucunantah is one of the first locals I have seen in a long time who has the ability to upsize (thanks to us selling his house in one day….a little self promotion). Other than that, we are currently working with 4 renters who have finally decided that it is time to make the move, several investors who now believe there is an opportunity in this market, and still more people wishing to relocate or buy second homes here in Coconut Grove.
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If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
