First Quarter 2012: Coconut Grove Real Estate Market Update

April 9th, 2012 | categories: Coconut Grove Real Estate, Coconut Grove Real Estate Market Conditions

Virgin Gorda, BVI

Virgin Gorda, BVI

I am back from vacation and ready to kick off the 2nd quarter of 2012.??While I was away real estate activity was still hopping here in Coconut Grove and although?I couldn?t completely escape from business?.I?d?rather work from the islands than from my office any day.? Perhaps a satellite office is in my future?

On a more serious note, here is a recap of the first quarter of the?real estate market?in Coconut Grove.?? Compared to the same time period in 2011,?we have seen a decrease in the number of sales in the Grove.? Last year, there were around 33 at the end of March and this year there?were just 21.?? As I have mentioned several times before, inventory is very low right now in the Grove and the lower sales are a result of that.

Single Family Home Sales 1st Quarter 2012:

• Number Of Homes For Sale: 122
• Coconut Grove Homes Sold:?21
• Average Final?List Price Per Square Foot: $283.00 psf
• Average Sale Price Per Square Foot: $260.00 psf
• Average Sale Price to List Price Ratio: 91.5%
• Number of short sales closed: 5
• Number of foreclosures closed: 2

Coconut Grove Townhouse Sales 1st Quarter 2012:

• Number of Townhouses For Sale: 13
• Townhouses Sold: 9
• Average Final List Price Per Square Foot: $212.00
• Average Sale Price Per Square Foot: $201.00
• Average Sale Price to List Price Ratio: 95%
• Number of short sales sold: 1
• Number of foreclosures sold: 2

Coconut Grove Condo Sales 1st Quarter 2012:

• Number of Condos For Sale: 135
• Condos Sold: 36
• Average Final List Price Per Square Foot: $334.00
• Average Sale Price Per Square Foot: $306.00
• Average Sale Price to List Price Ratio: 93%
• Number of short sales sold: 4
• Number of foreclosures sold: 6

I am a Coconut Grove real estate specialist. In 2010 and 2011 I earned the distinction of selling the most number of homes in Coconut Grove. If you would like to schedule a buyer or seller consultation with me, please feel free to contact me on my cell at 305-342-1623.

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Written by Riley Smith

This entry was posted on Monday, April 9th, 2012 at 9:26 am and is filed under Coconut Grove Real Estate, Coconut Grove Real Estate Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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