Is Coral Gables, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Coral Gables was a Seller's Market.
Housing Prices in Coral Gables, FL
How much do homes in Coral Gables, FL cost?
Median Sold Price
$1,015,500
$663/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Coral Gables was $1,015,500 in April 2024, down 7.7% from last year, and the median price per square foot was $663.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $313.5K | $363.7K | +16.0% |
2 Bedrooms | $627.5K | $660.5K | +5.3% |
3 Bedrooms | $1.2M | $1.3M | +3.3% |
4 Bedrooms | $2.0M | $2.0M | -1.1% |
5+ Bedrooms | $4.3M | $3.7M | -14.0% |
Summary: Coral Gables housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 14%.
Median Sold Price Compared To Nearby Cities
Kendall-Palmetto Bay | $703.6K | $773.9K | +10.0% |
Pinecrest | $1.9M | $2.1M | +9.8% |
Miami | $506.2K | $546.1K | +7.9% |
South Miami | $900K | $965K | +7.2% |
Coral Gables | $1.1M | $1.0M | -7.7% |
Housing Supply in Coral Gables, FL
How many homes are available in Coral Gables, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
416 | 432 | +3.8% |
Summary: The Coral Gables real estate market had 432 homes for sale in April 2024, a 3.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 51 | 55 | +7.8% |
2 Bedrooms | 78 | 90 | +15.4% |
3 Bedrooms | 112 | 106 | -5.4% |
4 Bedrooms | 77 | 75 | -2.6% |
5+ Bedrooms | 98 | 106 | +8.2% |
Summary: The Coral Gables housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 8.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 45 | -23.7% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Coral Gables in April 2024, down by 23.7% month-over-month. Of the 45 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% were sold over asking.
Days on Market for Coral Gables, FL
How long does it take to sell a home in Coral Gables, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
62 Days | 54 Days | -13.2% |
Summary: Homes in Coral Gables had an average of 54 days on market in Apr 2024, down by 13.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During April 2024, 45 homes were sold in Coral Gables; 51% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.