Home Buying in Miami>Question Details

John, Home Buyer in Miami Beach, FL

Is Coconut Grove's homes less expensive than Miami beach homes meaning you can get more for your money and more square footage?

Asked by John, Miami Beach, FL Fri Mar 22, 2013

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7
Yanoska Diaz’s answer
I find the question very interesting as well and since I do a large number of property valuations due to the nature of my business I took the time to review the statistics.

According to MLS the Market Analysis Report generates the following for Single Family Home closed sales during the past six months:

City of Miami Beach
Number of properties sold: 152
Lowest Sale: $155,000
Highest Sale: $14,500,000
Average Sale Price: 2,002,914
Average Price per Square Feet: $474.00

Coconut Grove:
Number of properties sold: 98
Lowest Sale: $203,000
Highest Sale: $7,500,000
Average Sale Price: 1,097,221
Average Price per Square Feet: $319.00

I hope you all find it helpful!
1 vote Thank Flag Link Sat Mar 23, 2013
In my point of view, there are two totally different areas, Market price is set by demand and not by type of area, Miami Beach is known by a dense population of tourist, second homes owner who lives in North US, Canada and Europe who wants a little bit of sun and fun twice a year, condo prices could go from $500,000 up to $20,000,000, and then you can find some single family North of the city, in the other hand Coconut Grove is a Family oriented area, young married couples with kids, when every house is different one to another. So everything depends on your goals and the environment you want to live in, and again prices are higher when there is more demand and less inventory.
1 vote Thank Flag Link Sat Mar 23, 2013
Hello John,

Without even going into MLS statistics , Coconut Grove is a much more attractive investment than Miami Beach. Coconut Grove has great schools, hospital, scenic drive on South Bayshore Drive and the connection to Viscaya, Coral Gables and historic Old Cutler Road.

Feel free to contact me with any questions.

Regards,


Pablo Torres
AF Realty, LLC
786-205-6988
pabtorres@aol.com
http://www.miamibuyproperties.com
0 votes Thank Flag Link Sat Mar 23, 2013
John,

Location, square footage, and demand will determine the price of a home. If you want to get more for your money it will be determined by the area you want to live in and how it compares to other properties in the area. Give me a call or email me if you have anymore questions.

Regards,
Alberto Baca
The Keyes Company
305-218-2504
AlbertSellsHomes@gmail.com
0 votes Thank Flag Link Sat Mar 23, 2013
Good Morning John,

You ask a rather interesting question. Given both Miami Beach and Coconut Grove have homes that can range from approximately $200k all the way into the millions, answering this question becomes difficult. What you may wish to consider in making the choice between the two locations is more about the style of home that you want, it's features, size of home. Both areas offer many different benefits it is all more a matter of the style of living that you like, depending of course on what your price range is. With Miami Beach you have more of a tourist setting and the close proximity to the beach and if walks along the beach are what you enjoy most then it would be the beach. If you are looking to be in a somewhat more centralized location within the county then Coconut Grove would be the place, which it is located close to downtown, Coral Gables and if you need to head to a southern neighborhood you are much closer. And if you wish to get to the beach for the weekend you are but 20 minutes away. Bottom line it really comes down to area and styles o homes that you would prefer. Working with a Realtor that can further describe the differences and get a sense of what you like will be key in finding what you are looking for.

Good luck with your search.

Lila Lopez, CRS, CDPE, e-Pro
RE/MAX Advance Realty
homesbylila@yahoo.com
305-772-2521
0 votes Thank Flag Link Sat Mar 23, 2013
John, it would depend exactly where in Miami Beach you would be comparing to, but generally speaking Miami Beach will be more expensive on the higher end homes than Coconut Grove. If you need any help finding your new home I will be glad to help. You can contact me, Scott Mees, Managing Broker @ SMI Realtors at 786-443-0404 or scott@scottmees.com
Web Reference: http://www.scottmees.com
0 votes Thank Flag Link Fri Mar 22, 2013
It depends. But I'd guess that Coconut beach would be the better investment in the long term. If you want, give me a call tomorrow and we can discuss why I think this is true.
0 votes Thank Flag Link Fri Mar 22, 2013
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