Today we will be taking a detailed look at the closed sales for Condos in Coconut Grove, Coral Gables, Pinecrest, and South Miami for 2017 – Quarter 1.
This will help us establish a clearer distinction of the current price points and other key market indicators for each of the four neighborhoods considered. Let’s dive right in.
To start off, let’s go over some general market statistics for each of the four selected neighborhoods. All statistical data used in this publication was obtained from the Miami Association of Realtors – Multiple Listings Service, effective Wednesday, 5/3/2017.
Miami Neighborhood Comparison – 2017 Quarter 1
For 2017 – Quarter 1 (1/1/2017 thru 3/31/2017) there were 63, 33, 5, and 3 closed sales for Condos in Coral Gables, Coconut Grove, South Miami, and Pinecrest respectively. The average sale price for each of these four areas was $472,701.98, $668,867.58, $192,445.80, and $200,333.33 respectively.
A great market indicator which provides an apples-to-apples comparison is the average price per square foot. As shown in the illustration above, for Coral Gables this was $350.94, for Coconut Grove this was $423.89, for South Miami this was $182.17, and for Pinecrest this was $210.97. Other important market indicators displayed in the illustration above are average discount from the original listing price which were 5.36%, 5.64%, 5.64%, and 4.38% for Coral Gables, Coconut Grove, South Miami, and Pinecrest respectively.
The graphs below offer better visual representations of the data displayed in the illustration above.
Total Condos Sold
Average Sale Price
Average Days on Market
If you are curious as to what the current inventory is for any of these four great Miami neighborhoods check out our detailed Neighborhood guides below. Our site always offers the most up-to-date, accurate info available for all your Miami residential real estate search needs.
If you are considering to purchase, sell, or rent in any of these neighborhoods contact us today! Our team of highly experienced and qualified agents have an acute understanding of the Miami real estate market and are equipped with all of the tools necessary to help you meet your personal residential housing needs. Don’t delay, contact us today and let us help you make your dream a reality!
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