Market Trend: Coconut Grove Townhomes

Market Trend: Coconut Grove Townhomes

Today I’ve got more proof that the Coconut Grove townhome market is one of the hottest markets in Miami. Due to it’s lush landscape, proximity to shops and cafes and overall charm, properties in this neighborhood are moving fast.  This week alone I have three Grove listings which are closing shortly: 3067 Virginia Street3245 Virginia Street and 2930 Bridgeport Avenue.

To put it into perspective, there are currently eight new construction townhomes ranging in high list prices from $799,000 to $1,289,000.  Although the current properties are more modern and sleek, this is a $200K-$500K increase from only a few years ago.  Recently a stand alone townhome built in 2001 just listed for $1,350,000!  With extremely low inventory for renovated single family homes that offer the features a townhome does it is no surprise the list prices are increasing for the new construction.  Numbers don’t lie-this market is on fire!

If you want to get into this neighborhood you have to act fast! 3138 Gifford Lane is still an active listing for only $699,000. This immaculate three-bedroom villa features a spacious layout with a large master suite, exterior balcony, private pool and my personal favorite, a garage.  Reach out to leverage my strength as a townhouse sales expert in South Florida.

Work with an experienced top producer luxury townhouse sales specialist as you explore real estate opportunities in the tropical chic community of Coconut Grove. Call today for a buyer or seller consultation with the Jill Penman Group at 305.807.9199.  My expertise in local real estate and the global luxury market delivers extraordinary service that has firmly established my brand as an international luxury real estate leader for the past 12+ years. Read more about how I tirelessly chase the results that matter most to our clients and reach out to experience this for yourself.

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