The answer seems to be a definite YES! When we look at the fourth quarter 2011 closings posted on the MLS the average closing price was at $181 x SF, about 7% higher than the same quarter last year.
With its central location, waterfront exposure and lush vegetation Coconut Grove is one of Miami’s premier addresses. There is a definite scarcity of single family homes below the $500,000 mark. In that price range there is a good selection of town homes in the Grove in good condition. Of the 19 closed townhome sales this past quarter 14 of them sold below $500,000. Take a look at the closed sales on this link. These townhomes sell!
If you are looking to buy or sell a townhouse in Coconut Grove please give me a call. I am a Coconut Grove resident and I follow this specific market very closely.