What is happening in the Coconut Grove Condo Market?
The #'s are in for the 4th Quarter and for 2025 as well.
We have a few graphs to show you, so let's jump right in...
Here are the #'s for the 4th Quarter comparing it to the previous 3 Quarters. Across the board we are seeing a mixed bag of results. Actives are down a bit from previous 2 quarters but up from the 1st, while Closed Sales were at its lowest point causing Months of Supply and Days on Market to hit their highest levels of the year all while pricing is holding. Now we look at the total #'s for 2025.
Here's a quick snapshot of the market in 2025:
258 - Closed Sales
68 - Days on Market
Median Prices... $817/Sqft and $1,432,000
Now we like to show you the price ranges of the Closed Sales for condos in Coconut Grove for 2025.
Quickly we can see that most of the Sales Activity is at $3-Million and under, 229 out of 258 or 89%, with sales tapering off above $3-Million.
We like to highlight the Highest Priced Closed Sale of the year.
It was 5-Bedroom Penthouse with over 6,000sqft at One Park Grove - Sold for $22.5-Million Dollars, or $3,500/Sqft. A record price for Coconut Grove for 2025.
Now we are going to compare the #’s for 2025 to the previous 2 years to really give us some context. Across the board we see very similar #'s for the past 3 years in Sales and Pricing, all while Days on Market has been steadily increasing for the last 3 years but at 68 Days on Market given the high prices we feel this will be ok.
For Seller's - The #'s look good for you, one caution is that Days on Market has been steadily increasing but prices seem to be holding.
For Buyer's - Not much great news for you here except that condos are taking longer to sell, but prices seem to be holding. Interest rates continue to inch downward, so hang in there.
As I start my 20th year in the Miami real estate market, I can proudly say that our goal in making these videos is to help as many people as we can by sharing real market data with you to give you a better insight into the local market. The Buying and Selling of a home is one of the largest financial transactions of your life, so please make sure to work with a professional that can guide you through. We thank you for watching, and We'll see you soon.