Is Coral Gables Riviera, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Coral Gables Riviera has remained a Seller's Market.
Key Takeaway
Coral Gables Riviera is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Coral Gables Riviera, FL
How much do homes in Coral Gables Riviera, FL cost?
Median Sold Price
$1,575,000
$806/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Coral Gables Riviera have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Coral Gables Riviera was $1,575,000 in March 2024, up 11.7% from last year, and the median price per square foot was $806.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $279.5K | $280K | 0.2% |
| 2 Bedrooms | $395K | $415K | +5.1% |
| 3 Bedrooms | $1.3M | $1.5M | +11.1% |
| 4 Bedrooms | $2.3M | $2.2M | -4.5% |
| 5+ Bedrooms | $4.4M | $3.1M | -29.0% |
Summary: Coral Gables Riviera housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 29%.
Median Sold Price Compared To Nearby Neighborhoods
| South Gables | $1.3M | $1.5M | +13.7% |
| Coral Gables Riviera | $1.4M | $1.5M | +11.7% |
| Granada | $1.4M | $1.5M | +8.0% |
| High Pines | $1.6M | $1.7M | +6.6% |
| Biltmore | $1.9M | $1.8M | -5.1% |
Housing Supply in Coral Gables Riviera, FL
How many homes are available in Coral Gables Riviera, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 66 | 66 | 0.0% |
Summary: The Coral Gables Riviera real estate market had 66 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 2 | -60.0% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 18 | 18 | 0.0% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 13 | 16 | +23.1% |
Summary: The Coral Gables Riviera housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes increased by 9.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Coral Gables Riviera, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Coral Gables Riviera in March 2024, up by 44.4% month-over-month. Of the 13 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% were sold over asking.
Days on Market for Coral Gables Riviera, FL
How long does it take to sell a home in Coral Gables Riviera, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 38 Days | -36.1% |
Summary: Homes in Coral Gables Riviera had an average of 38 days on market in Mar 2024, down by 36.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Coral Gables Riviera are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 13 homes were sold in Coral Gables Riviera; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.