Miami has seen quite a comeback in real estate, but it seems prices in Coconut Grove have gone up even more so than other neighboring areas recently – a product of the extremely low inventory and high buyer demand. I took a closer look at this market and wasn’t surprised by the numbers. In looking at the non-distressed SFH market between $1,000,000 – $2,000,000, the average selling price per square foot in the past 6 months is $336. That’s a 13.8% increase over this same time period 2 years ago when the average was $295! And even more incredible is the increase that we’ve seen just in the past year. The average selling price per square foot in the Grove from the first half of last year was $316, so we have come up 6.3% just in the past 6 months! Are you considering selling? If so, call me because I too have buyers looking!