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Market Update Category

Boutique Waterfront Condo Sold

The Pool by the Bay at 1600 South Bayshore Lane Condos

The Pool by the Bay at 1600 South Bayshore Lane Condos

I’ve written several posts about my favorite small waterfront building at 1600 S. Bayshore Lane, located on the bay just across from Grove Isle. With only 32 apartments on 9 floors it’s not often that there’s anything available for sale. The residents tend to stay and some own more than one unit.

I wrote about the 2 bedroom/2 bathroom apartment that was listed by Marilyn Tatman of Coldwell-Banker in June this year when it came on the market for $349,000. It has just closed for $332,500, or $313 per square foot. The average price per square foot for real waterfront condos, not those across S. Bayshore Drive looking at the water, is $355 per square foot, which gives me another reason to prefer this building to all others!

I’ve sold many of these apartments over the years and know it and most of the owners well. If you are interested in learning more about this boutique building give me a call at 305 794.6570 or leave me a note.

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Coconut Grove Homes Value Increased in 2011

Now that all the figures for 2011 Coconut Grove home sales have been reported I wanted to see how the final numbers compare to 2010. In both the north and south Grove single-family homes have increased in both average sale price and price per square foot.

Looking at figures for the North Grove the average sale price is $755,071, up from $702,515 in 2010. The per square foot average is up from 2010’s $249 to $263 . There were 51 sales in 2010 and 65 last year.

Year End North Coconut Grove Statistics

South Grove also had healthy increases in average sale price and per square foot average. In 2010 the average sale price was $938,698 ($282 per square foot) compared to last year’s $993,000 ($293 per square foot). There were 104 sales in 2011 and just 66 the year before.

Picture2 south grove

So far this year there have been 10 sales in the South Grove with an average square foot price of $297, and in the North Grove 7 sales at an average of $243 per square foot.

Coconut Grove is a unique village, and you need a hyper-local specialist working for you here. Whether you are selling, buying, renting or investing I can help you make the right decisions. Call me at 305 794.6570 or leave me a note.

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Coconut Grove Condos End The Year With Strong Sales

Grove Isle at Night

Grovenor House and Grove Isle led all condominiums in Coconut Grove with increases in apartments sold and in price paid per square foot, showing their strength in this recovering market.

Grovenor House showed the most significant rise with 20 units sold in 2010 compared to only seven in 2009. The square foot price average increased from $518 to $556. Grove Isle had 22 closed sales in 2010 and only 14 in 2009. The average price per square foot there went up from $297 to $322.

The Ritz Carlton also did well in 2010 with closed sales increasing from 5 in 2009 to 13. The per square foot price went from $404 to $420.

Yacht Harbour and Grove Towers both saw a decrease in price paid per square foot. Yacht Harbour went from $248 to $230 and Grove Towers from $374 to $342. Grove Hill had 2 more sales than in 2009 with the per square foot price dropping minimally by a couple of dollars.

It’s not surprising that Grovenor House, Grove Isle and the Ritz Carlton saw such increases. Grove Isle is a private guarded island with its own marina and boutique hotel, Grovenor House is the newest with the most luxurious finishes, and the Ritz Carlton carries the internationally known name – and lives up to those expectations.

The links below will show you everything on the market now in each of the buildings mentioned above. If your plans include a move to a Coconut Grove condo in the near future, give me call and we can discuss the best one for you.

Grovenor House available now

Grove Isle listings

Ritz Carlton apartments

Grove Hill units for sale

Yacht Harbour on the market now

Grove Towers listings

Give me a call at 305 794.6570 to discuss all your Coconut Grove real estate needs. You may also leave me a note and I’ll get right back to you. To stay updated with all local real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a follow-up email.

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