Top 6 Reasons Why You Should Consider Moving to Coconut GroveMarch 13, 2017
Coconut Grove has become one of the top destinations in the South Florida area. It’s a great place to buy real estate for many reasons. Many buyers that used to look in the Brickell and Edgewater areas are now seeking real estate in Coconut Grove.
This isn’t because Brickell or Edgewater have become bad choices. In fact, they both remain as top neighborhoods in the Miami area. However, the prices in both areas have skyrocketed causing some buyers to look for more value in Coconut Grove.
Here’s a look at the top 6 reasons you should consider moving to Coconut Grove.
Low Supply and High Demand for Single-Family Homes
The health of the single-family home market is very good right now. The inventory is at a good level with a steady increase in prices. It’s a weak buyer’s market right now with a current inventory of about 10 months. If it was between 6 and 9 months, it would be a balanced market.
A high demand for homes in the area makes it a good place to live. Families want to be close to the top private schools and it’s common for families to live in Coconut Grove for a longer amount of time than other South Florida areas.
Luxury Condos are Limited
Compared to Brickell, the condos in Coconut Grove are limited and provide a different dynamic. There are only a handful of truly luxury buildings in the area including Grove at Grand Bay and Park Grove.
This exclusivity is one of the reasons why so many are seeking luxury condos in the area. It’s expected that other condo opportunities will open up, along with some resale choices.
High-End Living with Plenty of Value
It doesn’t take as much cash to afford the space in Coconut Grove to enjoy a high-end lifestyle compared to other area neighborhoods. The bohemian-chic atmosphere provides a great choice for many types of buyers. The area is also dominated by single-family homes instead of high-rise condo buildings.
Coconut Grove is known for the beauty found throughout with tree-lined streets and plenty of vegetation. It’s also a place with incredible restaurants, plenty of nightlife and some of the largest mansions in South Florida.
The Schools are Great
Many families relocate to Coconut Grove to take advantage of some of the best schools in Miami. The top middle school in the state of Florida is found here and all of the public schools offer plenty for students looking to gain a high quality education.
The private schools draw many to the area, as well. With seven total private schools, there’s something for just about every student. Many are highly rated and some consider these private schools to be some of the best in the country.
Plenty of Gated Communities
If you prefer a gated community, Coconut Grove is the place for you. There are several great choices, such as Hughes Cove, Entrada Estates and The Moorings. Many of these communities provide excellent amenities, 24/7 surveillance and waterfront homes.
The location also helps to sell buyers on moving to Coconut Grove. It’s found just 5 to 10 minutes from the business districts of Coral Gables, along with just a few minutes from the financial center in Brickell.
There are plenty of great reasons to consider moving to the Coconut Grove area. If you’re relocating to South Florida and want to call one of the hottest Miami neighborhoods home, consider searching in the Coconut Grove area for your new home.