You often hear REALTORS and brokers speak in terms of price per square footage.  Some buyers take the price per square foot to a science and others not so much.  Above you will find two charts taking in all closed sales in area 41 zip code 33133-Coconut Grove from August of 2009-January of 2010 -one chart for single family homes from $400-999,000 and the other condos and townhouses using the same criteria.  Average price per square foot ranges but remains pretty stable from Aug until January of this year for single family homes under $1,000,000 from $233-$291/sq ft.  averaging out over the past 6 months around $265/sq ft.  For condos and townhouses, the average price per sq ft over the past 6 months is approximately $268/sq ft.  Obviously, this does not include waterfront which drastically jumps up in price and does not take into consideration properties above $999k.  Keep in mind you may have a property that has been renovated or have an oversized lot and list and sell above these averages price per square foot. 

If you are thinking of selling your property find me at jill@jillpenman.com or 305.807.9199.