Is Coconut Grove, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Coconut Grove was a Seller's Market.
Housing Prices in Coconut Grove, FL
How much do homes in Coconut Grove, FL cost?
Median Sold Price
$1,568,868
$833/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Coconut Grove was $1,568,868 in May 2024, up 11.8% from last year, and the median price per square foot was $833.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $400K | $448.7K | +12.2% |
2 Bedrooms | $957.5K | $1.3M | +37.1% |
3 Bedrooms | $1.6M | $1.6M | +0.8% |
4 Bedrooms | $2.1M | $2.7M | +28.6% |
5+ Bedrooms | $4.0M | $4.7M | +17.6% |
Summary: Coconut Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 37.1%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Neighborhoods
Grove Isle | $1.2M | $1.6M | +36.3% |
Douglas Park | $552.5K | $687.5K | +24.4% |
Coconut Grove | $1.4M | $1.5M | +11.8% |
Sunrise Harbour | $540K | $570K | +5.6% |
Housing Supply in Coconut Grove, FL
How many homes are available in Coconut Grove, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
305 | 339 | +11.1% |
Summary: The Coconut Grove real estate market had 339 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 46 | 46 | 0.0% |
2 Bedrooms | 65 | 64 | -1.5% |
3 Bedrooms | 85 | 100 | +17.6% |
4 Bedrooms | 54 | 61 | +13.0% |
5+ Bedrooms | 55 | 68 | +23.6% |
Summary: The Coconut Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 23.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
52 | 38 | -26.9% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Coconut Grove in May 2024, down by 26.9% month-over-month. Of the 38 sold homes, 79% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for Coconut Grove, FL
How long does it take to sell a home in Coconut Grove, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
75 Days | 77 Days | +1.9% |
Summary: Homes in Coconut Grove had an average of 77 days on market in May 2024, up by 1.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During May 2024, 38 homes were sold in Coconut Grove; 34% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.