Coconut Grove & Coral Gables Trending
in the South Florida Real Estate Market | End of Year Review 2018
By Anne Platt
Coconut Grove
The lush tropical gardens and breathtaking beauty of Biscayne Bay have for centuries attracted visitors and locals alike to Coconut Grove.
Within the last year, three of the most expensive luxury homes sold have been in one of the guard gated Bayfront enclaves along Historical tree-lined Main Highway, just south of the Village of Coconut Grove. Another home in Four Way Lodge Estates listed at $9,900,000, just recently went under contract.
Buyers with children are drawn by the exceptional world-class private schools and the excitement of all the year around outdoor activities. They love that they have the privacy and seclusion of their Bayfront retreat, yet are within walking distance of the vibrant Village of Coconut Grove. Look closely on the aerial and you will see the boats at the yacht and sailing clubs to the right of the arrow.
The red arrow on the aerial approximately locates these sought after Bayfront sanctuaries of Hughes Cove, Anchorage Way, and Four Way Lodge Estates. Entrada is further south on the map toward the bottom.
2018 Record Breaking Sales
#1 3550 Matheson Avenue (Entrada) – Closed Price $19,750,000
#2 3307 Devon Court (Hughes Cove) – Closed Price $12,437,500
#3 3525 Anchorage Way (Anchorage Way) – Closed Price $8,250,000
Additional Sales in Four Way Lodge Estates
3333 Poinciana Avenue (Four Way Lodge Estates) – Closed Price $5,770,000
3811 Bayside Court (Four Way Lodge Estates) – Under Contract Listed $9,900,000
3370 Poinciana Avenue
(not waterfront) Four Way Lodge Estates
Listed for $1,350,000 by Anne Platt Coldwell Banker Global Luxury
Under Contract
Contact Anne Plattproperties@bellsouth.net or 305-332-2027
Coconut Grove Single Family Homes | Year End 2018
All Price Ranges | Active | Pending | Closed/Sold | DOM | % of SP to LP** |
---|---|---|---|---|---|
Figures represent sales from the preceding twelve months | |||||
Mid-Year 2019 | 162 | 22 | 160 | 126 | 93% |
Mid-Year 2018 | 163 | 22 | 162 | 107 | 93% |
Can you imagine such close sales numbers?
I triple checked the figures!
It is very unusual to have sales statistics so close. Check out the latest Coldwell Banker market review, The Report: State of Luxury 2019. Charlie Young, President and CEO of Coldwell Banker, states that close numbers are happening around the country. While we are not seeing the record breaking appreciation we saw in prime markets coming out of the recession, in the long view the luxury real estate picture is steady and stable. Note the records broken in Coconut Grove are all water front homes.
The average price for a single family home in North and South Coconut Grove has increased 5 % from $1,688,215 at the end of 2017 to $1,769,689 at the end of 2018. The chart below shows the total number of homes sold in Coconut Grove by selected price ranges. If you wish a different range than you find featured here, contact me: PlattProperties@bellsouth.net or 305-332-2027 and I will be glad to research it for you.
Coconut Grove Sales | Selected Price Ranges
Active | Pending | Closed/Sold | DOM | % of SP to LP** | |
---|---|---|---|---|---|
Sales figures represent sales from the preceding twelve months. | |||||
Over $6,000,000 | |||||
Mid-Year 2018 | 8 | 0 | 34 | 160 | 86% |
Mid-Year 2017 | 11 | 1 | 4 | 262 | 82% |
$3,000,000 – $6,000,000 | |||||
Mid-Year 2018 | 17 | 0 | 9 | 171 | 88% |
Mid-Year 2017 | 17 | 0 | 12 | 171 | 86% |
$2,500,000 – $3,000,000 | |||||
Mid-Year 2018 | 10 | 0 | 9 | 201 | 95% |
Mid-Year 2017 | 9 | 1 | 7 | 84 | 88% |
$1,300,000 – $1,600,000 | |||||
Mid-Year 2018 | 29 | 1 | 24 | 137 | 93% |
Mid-Year 2017 | 27 | 2 | 26 | 79 | 91% |
$800,000 – $1,000,000 | |||||
Mid-Year 2018 | 14 | 4 | 28 | 107 | 92% |
Mid-Year 2017 | 17 | 5 | 30 | 103 | 96% |
Coral Gables
Coco Plum
165 Paloma Drive
6 Bedrooms and 5 and ½ baths
7,132 Living Square Ft.
20823 Sq. ft. Lot Offered $4,670,000
This home has been impeccably renovated to achieve the perfect combination of luxury, style and technology.
For details contact:
Anne Platt 305-332-2027 Plattproperties@bellsouth.net
Serena De Marta 954-816-0127
The average price for a single family home in Coral Gables has increased 16% from $1,293,561 at the end of 2017 to $1,501,623 at the end of 2018. Single family homes in Coral Gables have continued to sell well, though there is a slight build up in the active homes for sale. The number of homes pending sale is down. The first chart below shows the total number of homes sold in Coral Gables in all price ranges. Below it you can see the selected price ranges. If you wish a different range than you find featured here, contact me: PlattProperties@bellsouth.net or 305-332-2027 and I will be glad to research it for you.
Coconut Grove Single Family Homes | Year End 2018
All Price Ranges | Active | Pending | Closed/Sold | DOM | % of SP to LP** |
---|---|---|---|---|---|
Figures represent sales from the preceding twelve months | |||||
Mid-Year 2018 | 386 | 54 | 465 | 98 | 94% |
Mid-Year 2017 | 367 | 69 | 485 | 97 | 94% |
The numbers below show the sales analysis in Coral Gables in selected price ranges. Contact me at PlattProperties@bellsouth.net if you wish more detail of if you wish a different price range
Coconut Grove Sales | Selected Price Ranges
Active | Pending | Closed/Sold | DOM | % of SP to LP** | |
---|---|---|---|---|---|
Sales figures represent sales from the preceding twelve months. | |||||
Over $6,000,000 | |||||
Mid-Year 2018 | 43 | 2 | 14 | 190 | 88% |
Mid-Year 2017 | 32 | 1 | 3 | 347 | 92% |
$3,000,000 – $6,000,000 | |||||
Mid-Year 2018 | 58 | 5 | 25 | 158 | 91% |
Mid-Year 2017 | 52 | 5 | 25 | 173 | 91% |
$2,500,000 – $3,000,000 | |||||
Mid-Year 2018 | 30 | 3 | 20 | 240 | 92% |
Mid-Year 2017 | 23 | 1 | 16 | 213 | 93% |
$1,300,000 – $1,600,000 | |||||
Mid-Year 2018 | 31 | 4 | 50 | 92 | 95% |
Mid-Year 2017 | 27 | 3 | 42 | 110 | 94% |
$800,000 – $1,000,000 | |||||
Mid-Year 2018 | 42 | 9 | 85 | 81 | 94% |
Mid-Year 2017 | 53 | 7 | 87 | 68 | 92% |
Around the Corner or Around the World
Coldwell Banker Global Luxury is There
Yesterday we received the new Coldwell Banker Global Luxury report, The Report: State of Luxury 2019, and I am thrilled to be able to share it with you. Craig Hogan, Vice President of Luxury, says it is one of the most valued and buzzed about real estate resources ever created. We hope you agree. Please let me know at PlattProperties@bellsouth.net or 305-332-2027.
It contains a recap of 2018 trends as well as the latest list of the new “Power Markets.†This year they have expanded certain features and added more in depth analysis of our neighbors Canada and Mexico as well as several prime markets overseas.
With 3,000 offices in 47 countries, and 92,000 sales associates spanning the globe, Coldwell Banker Global Luxury uses our powerful international connections bring you the latest luxury updates. This year we opened five new offices in downtown Paris, Rome, downtown Bangkok, Biarritz and Barcelona.
Today one of my colleagues met with new customers from France wishing to purchase a home. The couple had taken the elevator to our 7th floor office in Ugo Colombo’s Collection Building on Ponce de Leon. We receive many phone inquiries. Not many customers drop in to the 7th floor. The buyer explained that in France, where they live, the Coldwell Banker Global Luxury Brand and the excellent long term reputation is huge. Of course they would come to Coldwell Banker when they were ready to purchase their home in Coconut Grove or Coral Gables!
Enjoy,
Thinking of selling? Thinking of buying?
Trust Four Decades Serving Sellers and Buyers
in Coconut Grove and Coral Gables.
Call me, Anne Platt, and I will put my incomparable international connections and comprehensive online marketing strategy to work to showcase your property to affluent buyers the world over. This will enable you to sell your property for the highest price achievable with the least inconvenience to you.
www.PlattProperties.com
Direct 305-332-2027 | Office 305-667-4815
Email: PlattProperties@bellsouth.net
Now, a note about the numbers I use in this report. The report covers strictly Single Family Homes in the residential neighborhoods of Coral Gables and North and South Coconut Grove. In those neighborhoods there are roughly 2,100 homes in the Grove and 10,814 in the Gables. All information is from the Southeast Florida Multiple Listing Service. You may see different figures from an economist, market forecaster or realtor who measures the market from another perspective.
Note that the individual North and South Grove sale price averages are different from the Review as reports on the LuxuryMiamiHomesandGardens.com site are run individually with dedicated North and South Reports.