If you’re looking for a home to buy in Coconut Grove you already know there’s just not much available. The inventory has steadily gone down for over two years years.
Be ready to make an offer when the right home shows up. If you’ll be financing your purchase you need a pre-approval letter for a mortgage from a reputable lender. This will be included in your original offer, and shows you are a serious buyer.
In the upcoming charts you’ll see the history of single family homes in Coconut Grove going back 15 months. It shows that there are less homes selling more quickly for closer to asking price than before.
- SINGLE FAMILY HOMES FOR SALE, UNDER CONTRACT AND CLOSED
The chart above shows the trend of less properties on the market and more sales from August this year compared to the same time last year. The number of single family homes is down 32% and the number sold is up 28%.
- SINGLE FAMILY HOMES: DAYS ON THE MARKET AND SALE PRICE TO LIST PRICE %
At the same time, houses are selling in less days for purchase prices closer to listed prices. This is great news for sellers, and not so much for those looking for new homes.
I recommend that if you find a house you like, make a strong offer as quickly as you can. There is quite a bit of competition for every home and you don’t want to lose it to someone else.
If you would like to know the value of your home I am available for a no-pressure consultation. Just give me a call at 305 794.6570 to arrange a convenient time.
Coconut Grove is a unique village, and you need a hyper-local specialist working for you here. Whether you are selling, buying, renting or investing I can help you make the right decisions. If you enjoyed reading this article, why not Subscribe to receive the next one? Once you register, you must activate the subscription in a follow-up email.