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Coconut Grove Ranks As One Of The Three ‘Hottest’ Neighborhoods In Miami’s Metro Area

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coconut grove waterfrontNot sure if you’ve noticed, but a lot of New Yorkers and Californians are moving to Miami.

The COVID-19 pandemic made space a priority for Americans as we learned to both work and play at home, and as many professionals were set free from office commutes, a good lot of urbanites sought suburban or even rural environments – or just plain moved to sunnier states.

According to Redfin, all 10 of the “hottest neighborhoods of 2021” are within driving distance from New York City, Boston, San Francisco, Philadelphia or Los Angeles, but we’ve also heard from plenty of real estate agents who are seeing mass movement to South Florida. While 2020 saw housing prices dip in many major markets, some hot neighborhoods saw an increase in sales above listing price.

Redfin crunched the numbers and ranked U.S. cities by zip codes, comparing year-over-year growth in listing views and Redfin Compete Scores, the latter of which measures everything from days on market to share of homes sold above listing prices and sale-to-list price ratio.

All that said, the real estate brokeridge was able to list the top three neighborhoods in each city based on median sale price growth, and we take a closer look at Miami’s hottest zip codes below.

Coconut Grove

This shoreline neighborhood has always been a favorite for Miami living. Renown for its leafy streets, beautiful architecture and rich cultural history, Coconut Grove is the pinnacle of suburban tropical living. Close enough to downtown, Miami Beach and the islands to the south, you get all the creature comforts of family-friendly environments without losing any of the adventure. Maybe that’s why homes in the 33133 zip code saw a 14 percent increase in overall home sales for 2020. About 4 percent of homes were sold above listing price, and the median sale price rose 9 percent to $605,000.

If you’ve got a hefty budget or just want to take a peek at the lap of Miami luxury, we direct your attention to the listing at 3725 Leafy Way. Built in 1927 on 2.88 acres, this stunning estate features a reflection pool surrounded by coconut palms and leafy native plants. For the $17,500,000 price tag, you’ll get five bedrooms and 4.5 baths, a detached guest house with three bedrooms of its own, plus a gym, loggia, five-car garage and more. You’ve got to see it to believe it.

See the listing

Westchester – Sweetwater – University Park – Fontainebleau

The hottest neighborhood in Miami is also a great place to raise your kids. While the 33174 zip code might be too far out west for the party crowd, homes in these neighborhoods are close to great schools, delicious restaurants, and entertaining ammenities. It’s also a place to get great bang for your buck. The median price for homes here actually decreased $314,000, which is 7 percent less than in 2019, but that was balanced out by the fact that 22 percent more homes were sold in this area than last year, and 11 percent of those went for above asking price.

If you’re ready to cash in the Florida dream, this single-family home is the quintessential south Florida one story with a quaint brick facade, palm tree dotted lawn and marble floors. It comes with five bedrooms and three bathrooms, and it’s right by the turnpike and highways, making it easier to get to downtown or Miami Beach than you think.

See the listing

Kendall – Country Walk – The Hammocks

Put another win in for the suburbs, because the homes of the 33186 zip code are hot on the market. Perfectly situated near shopping, entertainment, great schools and not too far from the city, Kendall, The Hammocks and the like offer a taste of luxury with all the convenience of suburbia. About 11 percent more homes were sold here in 2020 than the year before, and a whopping 23 percent of them sold above asking price. Similarly to Coconut Grove, the median sale price rose 9 percent year-over-year, resting at $340,000.

Interested in the market? Built in 1994, this property has been completely remodeled with an indoor and outdoor living space as well as outdoor kitchen. That’ll really come in handy when you want to enjoy the warm winter months. It’s also got Italian marble and mahogany wood floors, a jet ski lift, and 24-hour gated security.

See the listing

 

Source: Ocean Drive

 

SEARCH FOR YOUR COCONUT GROVE DREAM HOME AT GROVEGUY.COM!

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