Coconut Grove Residences Sales Update

Per my March 2nd post, 9 Units at Coconut Grove had been sold and under pending Contract for purchase.

As of today, an update was provided which indicates that 10 Units have now been sold and are under pending Contract for purchase. These 10 Contracts occurred within the last 5 days and that doesn’t surprise me at all. My previous post about Coconut Grove outline the reasons why I expect that the Developer owned Units will sell quickly.

Additionally, Buyers who close within 15 days of their accepted Offer will receive a $5,000 Incentive. Because of that and because there are many Cash Buyers currently in the market who can close quickly, I think that many of the Closings will occur quickly instead of being in pending status for long periods of time.

I included an excerpt from Coconut Grove’s graphic below which shows the Units currently available and their prices. The current list price range is $600,000 – $2,500,000.