As we enter the 4th quarter of 2014 I am thrilled to report that condo values at The Grovenor House continue to trend upwards. Although the number of overall sales is down slightly this year, values have increased from an average of $693/sq. ft. in 2013, to $761/sq. ft. in 2014. Unit 2101 was the highest “sale price/sq. ft.” this year which closed for $835.00 (sale price $3,362,500). This was a corner unit which offered 4,026 square feet of living space with 4 bedrooms, 6.5 baths and breathtaking views of Biscayne Bay and downtown Miami.
Effect Of Grove at Grand Bay and Park Grove on The Grovenor House?
This is great news for owners at The Grovenor House who have been slightly nervous about the effect that the Grove at Grand Bay and Park Grove (2 new construction condo projects going up blocks away) were going to have on the value of their condos. I believe that the once completed, the two new condo buildings will only help values at The Grovenor House. First of all, they will help bring in more luxury condo buyers to the Grove than we have ever had before. Second, The Grovenor House will always offer more square footage for your money. Third, starting prices at the Grovenor House will be more affordable than those at Grove at Grand Bay or Park Grove.
Real estate in Coconut Grove is changing on a daily basis. If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales. I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you. I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.
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