Is Coral Gables, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$1,050,000
$690/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Coral Gables was $1,050,000 in June 2024, down 6.6% from last year, and the median price per square foot was $690.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $337.5K | $367.5K | +8.9% |
2 Bedrooms | $625K | $694.2K | +11.1% |
3 Bedrooms | $1.3M | $1.3M | -0.5% |
4 Bedrooms | $1.9M | $2.1M | +6.4% |
5+ Bedrooms | $4.1M | $4.0M | -3.0% |
Summary: Coral Gables housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes decreased by 3%.
Median Sold Price Compared To Nearby Cities
South Miami | $887K | $1.0M | +14.1% |
Kendall-Palmetto Bay | $710.8K | $779.8K | +9.7% |
Pinecrest | $2.0M | $2.1M | +8.8% |
Miami | $506.7K | $550K | +8.5% |
Coral Gables | $1.1M | $1.0M | -6.6% |
Housing Supply in Coral Gables, FL
How many homes are available in Coral Gables, FL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
429 | 418 | -2.6% |
Summary: The Coral Gables real estate market had 418 homes for sale in June 2024, a 2.6% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 53 | 51 | -3.8% |
2 Bedrooms | 86 | 85 | -1.2% |
3 Bedrooms | 120 | 112 | -6.7% |
4 Bedrooms | 71 | 70 | -1.4% |
5+ Bedrooms | 99 | 100 | +1.0% |
Summary: The Coral Gables housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.8%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 1%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
67 | 55 | -17.9% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 55 homes were sold or pending in Coral Gables in June 2024, down by 17.9% month-over-month. Of the 55 sold homes, 75% were sold under asking, 11% were sold at asking, and 15% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
71 Days | 61 Days | -14.9% |
Summary: Homes in Coral Gables had an average of 61 days on market in Jun 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During June 2024, 55 homes were sold in Coral Gables; 49% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.