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2020 Coconut Grove Real Estate Values A look back at the statistics for 2019 LUXURY HOMES

As every year, I compile and analyze all sales in Coconut Grove (according to MLS data – which takes several weeks) from the previous year and see where our community is developing. The start of 2020 was very busy for me, so it took a little longer to collect all the data and now to distribute it. I apologize for the delay.

I am a Groveit through and through. I met my wife in the Grove, was married in the Grove (St. Hugh), my reception was in the Grove (Villa Woodbine – This recently avoided reorganizing the zones to make room for a boys-only school), I’ve been living in Grove for 10 years and am a senior director for luxury sales at Douglas Elliman in our Grove office at Two CocoWalk. I have compiled this report for the past 7 years because I care about the health of our community and can help people understand where the Grove housing market has been and is.


When the media / news agencies report on property statistics, it is often a macro level that speaks of a city or county, as opposed to a micro level that takes a closer look at neighborhoods and communities. They do this because it is easier to get statistics on a larger scale, but usually distorts the numbers by grouping different areas together, which is never a good thing with property statistics. Wonder if, if you sold your house, you would take care of what sold two cities 5 miles away … or take care of sales in your block or in your immediate neighborhood?

The overall market in South Florida is slowing and stabilizing in certain areas of Miami. The same applies to Coconut Grove. Although the Coconut Grove market has risen year-on-year for the past seven consecutive years, the price trend indicators showed a correction in 2019. Here are some insights from the 2019 numbers:

  • Total revenue decreased by $ 35,357,693 from an all-time high of $ 511,592,369 in 2018 to $ 476,234,676 in 2019. This means that the total sales volume has finally flattened out after 7 years of increase.
  • The average selling price in ALL of the Grove rose by a further 3.1% in 2019.
  • West Coconut Grove appeared to be the big winner as all 4 key price indicators rose in 2019: average and average selling prices increased (+ 13.4% and + 26.8%) along with the average and average selling price per square foot (+ 2.1% and +) 1.9%).
  • Coconut Grove had total sales of 492 in 2019, a new all-time high.

In 2019 we saw another property record at Coconut Grove:

  1. 2131 S. Bayshore Dr. set the new record per square foot when it closed at $ 942.86 per square foot, making it the highest such sale ever Off-water house in Coconut Grove. This sale broke the previous record of $ 818.09 from 3503 Banyan Circle at Camp Biscayne, which closed on May 22, 2017.

Coconut Grove Real Estate – months of offer

Given the changing market, I thought this would be a good time to add a specific category that describes whether a market prefers buyers or sellers – months of delivery. Months of supply mean how long it would take for the market to absorb all real estate if there were no additional real estate on the market. When looking at statistics, an offer of 6 months or less favors sellers, while an offer of more than 6 months favors buyers.

Single-family houses: 9-month supply (small buyer’s market)
148 Currently available
104 Sold in the last 6 months

Condominiums: 15-month delivery (buyer’s market)
221 Currently available
91 Sold in the past 6 months

Row houses: 6-month supply (stable – seller’s market)
54 Currently available
52 Sold in the last 6 months

* Although 2 out of 3 show a buyer’s market, all 3 are the lowest of all the areas I consider statistics for in Miami-Dade County. For comparison: Miami Beach currently has a 24-month supply of condominiums and a 30-month supply of single-family homes.


Below I have compiled all property statistics for 2019 in Coconut Grove and then a year-on-year comparison of 2019 compared to 2018.

2019 Coconut Grove property sales by numbers:

  • Total sales: 492
  • Total sales: $ 476,234,676
  • Average list price: $ 1,043,411
  • Medium list price: $ 798,500
  • Average Retail Price: $ 968,237 (93.5% of list price)
  • Average Retail Price: $ 747,500 (93.9% of list price)
  • Average SQ / FT Selling Price: $ 431.92
  • Median retail price per SQ / FT: $ 393.70
  • Days in the market: 176 average / 99 median
  • Sale with the highest price of 2019: 3811 Bayside Ct. Closed on May 31, 2019 at $ 9,000,000 ($ 920.81 per square foot)
  • Sale at 2019 lowest price: 2630 SW 28th St. # 10 Closed on Jan 22, 2019 at $ 138,000 ($ 343.28 per square foot)

Download: 2019 ALL Coconut Grove Closed Real Estate Sales


2019 against 2018 ALL Coconut Grove Year-on-Year Sales:

  • Total sales: UP 22 (+ 4.7%) | 492 in 2019 compared to 470 in 2018 (430 in 2017)
  • Total Sales: DOWN 35,357,693 USD (-6.9%) | $ 476,234,676 in 2019 compared to $ 511,592,369 in 2018 ($ 474,227,625 in 2017)
  • Average list price: DOWN $ 140,554 (-11.9%) | $ 1,043,411 in 2019 compared to $ 1,183,965 in 2018 ($ 1,202,413 in 2017)
  • Median list price: UP $ 39,040 (+ 5.1%) | $ 798,500 in 2019 compared to $ 759,460 in 2018 ($ 777,000 in 2017)
  • Average Retail Price: DOWN $ 120,257 (-11.0%) | $ 968,237 in 2019 compared to $ 1,088,494 in 2018 ($ 1,102,855 in 2017)
  • Median retail price: UP $ 22,500 (+ 3.1%) | $ 747,500 in 2019 compared to $ 725,000 in 2018 ($ 747,000 in 2017)
  • Average SQ / FT Selling Price: DOWN $ 14.59 (-3.3%) | $ 431.92 in 2019 compared to $ 446.51 in 2018 ($ 430.20 in 2017)
  • Median Selling Price per SQ / FT: DOWN $ 2.40 (-0.6%) | $ 393.70 in 2019 compared to $ 396.10 in 2018 ($ 397.48 in 2017)

Coconut Grove neighborhood map

Coconut Grove neighborhood map

For local groveites who want to sell and buyers buying real estate in Coconut Grove, I have broken down the statistics of the different areas of the Grove. Parts of Coconut Grove are locally referred to, i.e. H. North, South, Middle, and West (e.g., CocoWalk and the Mayfair Hotel & Spa are both in Center Grove and Kennedy Park in North Grove).


2019 against 2018 NORTH Coconut Grove sales by numbers:

  • Total sales: 159 in 2019 | 127 in 2018 (156 in 2017)
  • Average list price: $ 1,350,959 in 2019 $ 1,542,612 in 2018 ($ 1,467,565 in 2017)
  • Average list price: USD 1,149,000 in 2019 | $ 1,130,000 in 2018 ($ 1,074,500 in 2017)
  • Average selling price: (-12.4%) $ 1,241,543 in 2019 | $ 1,416,833 in 2018 ($ 1,332,103 in 2017)
  • Median retail price: (-1.0%) $ 1,040,000 in 2019 | $ 1,050,000 in 2018 ($ 982,000 in 2017)
  • Average selling price per SQ / FT: (-6.6%) $ 483.65 in 2019 | $ 517.90 in 2018 ($ 500.49 in 2017)
  • Median selling price per SQ / FT: (-3.5%) $ 435.19 in 2019 | $ 451.15 in 2018 ($ 457.14 in 2017)
  • Days in the Market: 166 Average 103 median in 2019 (184 average | 154 median in 2018)
  • Sale with the highest price of 2019: 1910 S. Bayshore Ln. Closed on 12/23/2019 at $ 8,500,000 ($ 986.31 per square foot)
  • Sale at 2019 lowest price: 2630 SW 28th St. # 10 Closed on Jan 22, 2019 at $ 138,000 ($ 343.28 per square foot)

Download: 2019 NORTH Coconut Grove Closed property sales


2019 against 2018 SOUTH Coconut Grove sales by numbers:

  • Total sales: 49 in 2019 | 67 in 2018 (51 in 2017)
  • Average list price: USD 1,727,041 in 2019 | $ 2,210,348 in 2018 ($ 2,442,520 in 2017)
  • Median list price: USD 1,299,000 in 2019 | $ 1,690,000 in 2018 ($ 1,650,000 in 2017)
  • Average selling price: (-21.0%) $ 1,605,041 in 2019 | $ 2,033,042 in 2018 ($ 2,231,874 in 2017)
  • Median retail price: (-20.5%) $ 1,225,000 in 2019 | $ 1,540,000 in 2018 ($ 1,620,000 in 2017)
  • Average selling price per SQ / FT: (-9.9%) $ 458.62 in 2019 | $ 509.04 in 2018 ($ 492.21 in 2017)
  • Median selling price per SQ / FT: (-9.1%) $ 435.30 in 2019 | $ 478.84 in 2018 ($ 458.75 in 2017)
  • Days in the Market: 137 Average 92 median in 2019 (177 average | 141 median in 2018)
  • Sale with the highest price of 2019: 3811 Bayside Ct. Closed on May 31, 2019 at $ 9,000,000 ($ 920.81 per square foot)
  • Lowest price sale of 2019: 4141 Barbarossa Ave. Closed on 07/12/2019 at $ 500,000 ($ 310.37 per square foot)

Download: 2019 SOUTH Coconut Grove Closed property sales


2019 against 2018 CENTER Coconut Grove sales by numbers:

  • Total sales: 174 in 2019 | 197 in 2018 (149 in 2017)
  • Average list price: $ 638,003 in 2019 | $ 759,332 in 2018 ($ 670,283 in 2017)
  • Average list price: USD 464,950 in 2019 | $ 535,000 in 2018 | ($ 489,900 in 2017)
  • Average selling price: (-13.5%) $ 598,390 in 2019 | $ 691,480 in 2018 ($ 627,154 in 2017)
  • Median retail price: (-12.8%) $ 445,000 in 2019 | $ 510,000 in 2018 ($ 464,000 in 2017)
  • Average selling price per SQ / FT: (-0.2%) $ 404.42 in 2019 | $ 405.21 in 2018 ($ 366.03 in 2017)
  • Median selling price per SQ / FT: (+ 5.9%) $ 373.52 in 2019 | $ 352.66 in 2018 ($ 341.46 in 2017)
  • Days in the Market: 199 Average 72 median in 2019 (123 average | 66 median in 2018)
  • Sale with the highest price of 2019: 3100 Munroe Dr. Closed on 10/6/2019 at $ 4,400,000 ($ 435.95 per square foot)
  • Lowest price sale of 2019: 3240 Mary St. # S-205 Closed on May 24, 2019 at $ 150,000 ($ 295.86 per square foot)

Download: 2019 CENTER Coconut Grove Closed property sales


2019 against 2018 WEST Coconut Grove sales by numbers:

  • Total sales: 110 in 2019 | 79 in 2018 (74 in 2017)
  • Average list price: USD 933,300 in 2019 | $ 816,700 in 2018 ($ 810,228 in 2017)
  • Average list price: USD 796,500 in 2019 | $ 650,000 in 2018 ($ 714,000 in 2017)
  • Average selling price: (+ 13.4%) $ 872,832 in 2019 | $ 769,799 in 2018 ($ 799,298 in 2017)
  • Median retail price: (+ 26.8%) $ 779,500 in 2019 | $ 615,000 in 2018 ($ 632,250 in 2017)
  • Average selling price per SQ / FT: (+ 2.1%) $ 389.88 in 2019 | $ 381.78 in 2018 ($ 364.16 in 2017)
  • Median selling price per SQ / FT: (+ 1.9%) $ 366.74 in 2019 | $ 360.02 in 2018 ($ 354.40 in 2017)
  • Days in the Market: 175 Average 135 median in 2019 (108 average | 67 median in 2018)
  • Sale at 2019 highest price: 3779 Justison Rd. Closed on Jan 14, 2019 at $ 3,400,000 ($ 625.69 per square foot)
  • Lowest sale in 2019: 3677 Thomas Ave. Closed on 06/03/2019 at $ 188,100 ($ 238.10 per square foot)

Download: 2019 WEST Coconut Grove Closed property sales


If you or someone you know wants to buy or sell Real estate in Coconut GrovePlease contact me, Michael Light, founder / owner of the Miami Luxury Homes Group at Douglas Elliman Real Estate. I am based in Coconut Grove and have direct knowledge of the real estate market in Coconut Grove. You can contact me directly in my CocoWalk office at 305-350-9842, on my cell phone at 786-566-1700 or by email at [email protected].

Looking for previous Coconut Grove Market Statistics articles? Here you are:

Market report for coconut grove 2018

2017 Coconut Grove market report

Coconut Grove Market Report 2016

Coconut Grove Market Report 2015

Coconut Grove Market Report 2014


Disclaimer: The statistics mentioned here were accessed on February 15, 2020 from the Multiple Listing Service (MLS). All closed sales that are not listed in the MLS are not included in the statistics mentioned here. The MLS search criteria used were 33133 postcode + map outline + city not equal to “Coral Gables”. Statistics separated in North, South, Middle and West Grove have been separated according to the map above and may not be accurate. In addition, the information contained herein is for informational purposes only and should not be considered reliable.

Note: We are not the author of this content. For the Authentic and complete version,
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