South Coconut Grove Outsells North Coconut Grove
Categories: Coconut Grove, Real Estate News, South Florida Market Stats
hi
I was just checking out my board of Closed Sales for 2009 and it was interesting to see that of the 32 single family home sales this year, there were 20 sales in the South Grove and only 12 sales in the North Grove. This is likely due to a number of reasons.
First and most obvious is that there are slightly more listings in South Coconut Grove. Second reason is price point. The homes in South Coconut Grove tend to be on smaller lots and therefore are less expensive. Since it is the $1,000,000 and below market that is selling right now, the North Grove is at a slight disadvantage. Also, it seems that the South Grove has carried the brunt of the distressed properties. So far this year South Coconut Grove has seen 5 foreclosures and 2 short sales sold, while the North Grove has had only 1 foreclosure and 1 short sale sold.
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