There were 3 homes that came on the market recently that went pending in a matter of days.  They were all priced under $400,000.

The first home was located at 4095 La Playa Blvd. and was priced at $399,000.  The house featured 3 bedrooms, 1.5 baths and 2,026 square feet of living space.  Broker was Coldwell Banker.

The second home was located at 3741 Crawford and was also priced at $399,000.  The house featured 2 bedrooms, 1 bath with 1,853 square feet of living space.  Broker was ReMax.

The third home was located at 3785 Kent Court and was priced at $325,000.  The house featured 2 bedrooms, 1 bath with 1,214 square feet of living space.  Broker was Bezold Realty.

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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.

I just listed a Center Grove townhouse located at 2982 Virginia Street priced at $3,200 a month.  This 2,300 square foot townhouse is the largest unit currently on the market for rent, and comes with one of the largest backyards in Center Grove.  It was built in 2006 and features 3 bedrooms and 2.5 baths.

Because the resale market in Center Grove has been so slow this year many people have decided to rent their townhouse.  In fact there have been a shocking 100 townhouses that have been rented in 2009 in Center Grove.

Looking for a rental in Coconut Grove? I have a rental specialist who works on my team here at The Real Estate Coconut and would be happy to assist you in your search.  Just send me a note here.

In the last 2 weeks there were 9 homes to be placed under contract, prices ranged from $2,295,000 down to $325,000.

Below is a recap of homes sold over the last 2 weeks.  You will notice that 4 of the 5 homes sold above $300.00 per square foot which is a nice trend to see.  Even 4000 Kumquat which was a short sale closed over $300.00 per square foot.

Single Family Homes Sold Recently In Coconut Grove

You will notice that I have used the “median” numbers as opposed to the “averages” that I typically use for Coconut Grove because there are a few homes in Coral Gables priced higher than $25,000,000 which totally throw off the numbers.

Coconut Grove Single Family Home Market

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Coral Gables Single Family Home Market

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Pinecrest Single Family Home Market

I currently have a client looking for a home in a gated community in Coconut Grove.  Just like other high end properties there is a limited supply right now on the market.

We have a few for sale in Camp Biscayne, one in Hughes Cove, several in The Moorings, one in Treasure Trove, another in De Garmo Estates and a few more in Ye Little Wood.

The “Average List Price Per Square Foot” of these homes is $431.00 and the average List Price is $2,800,000.  Although that number seems high, there are 5 properties priced under $2,000,000 and don’t forget about the property I mentioned last week in Ye Little Wood that is priced at $890,000.

Click here to see ALL 13 homes in gated communities that are currently for sale 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.

Some interesting numbers.  In 2008 there was a total of $151,203,000 worth of single family homes sold in Coconut Grove.

So far this year there has only been $64,827,000 worth of single family home sales!!! Granted we still have a few more months to go in 2009, but chances are we won’t make up another $87 million in 2 months.

Considering that we are selling approximately the same “number” of homes as 2008 (if not slightly more), these numbers tell us two things about the real estate market here in Coconut Grove: prices have drastically come down since 2008 and buyers are purchasing the lower end homes compared to the higher end ones.

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

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.

My listing located at 4070 Matheson Avenue closed last week for $575,000.  As far as 3 bedrooms go, this is one of the highest “Price Per Square Foot” numbers we have seen all year in the South Grove.

It sold for $347.00 PSF, ($87.00 higher than the average in Coconut Grove).

The house had tons of charm and was turnkey ready which helps explain why we were able to secure such a price.

Details:

• 3 bedrooms, 2 baths
• 1,654 square feet of living space
• 6,480 square foot lot
• Pool
• List Price: $645,000

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

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.

The second property was located at 84 Bay Heights Drive and was part of an estate sale.  The home needed total renovation, but did feature a very large living room, large screened terrace with vaulted wood ceilings and a full underground basement.  The home had 4 bedrooms, 2 baths, 2,912 square feet of living space on a 9,547 square foot lot.  The list price was $399,000 and it was listed by EWM.  Word is that this house has at least 12 offers already.

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

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.

If you attended my real estate talk last night you now know that prices have fallen significantly in Coconut Grove in the past year.  The average Single Family “Sale Price Per Square Foot” in October of 2008 was $343.00 and the average is now $260.00.

In years past, the decision whether to update your home before putting it on the market was easy because it was pretty much guaranteed that the improvements (kitchen, bath, floors, etc.) would increase the value of your home and you would recoup the money.

Since Coconut Grove homeowners have already experienced such a large drop in value over the past year, many people are not so keen on the idea of putting MORE money into their house before they place it on the market.

I tell my clients that they need to think about it this way….you are not putting more money into your house in order to make a profit.  Instead, you are putting more money into your home in order to make it stand out and get it sold!!

There are 178 houses on the market in Coconut Grove right now and very few are in move in condition.  So unless you are willing to price your home under market value, updating your home is another way to get your house sold quickly in this market.

Need more motivation? The average house that has sold this year has sat on the market for 9 months.  One thing that you can do to get it sold faster is to make it turnkey ready!

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

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.