Is Coral Gables, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Coral Gables was a Neutral Market.
Housing Prices in Coral Gables, FL
How much do homes in Coral Gables, FL cost?
Median Sold Price
$1,100,000
$672/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Coral Gables was $1,100,000 in February 2024, up 3.1% from last year, and the median price per square foot was $672.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $299K | $342.5K | +14.5% |
2 Bedrooms | $590K | $675K | +14.4% |
3 Bedrooms | $1.2M | $1.3M | +10.0% |
4 Bedrooms | $1.9M | $2.0M | +2.1% |
5+ Bedrooms | $4.2M | $3.9M | -5.7% |
Summary: Coral Gables housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 5.7%.
Median Sold Price Compared To Nearby Cities
South Miami | $862.5K | $955K | +10.7% |
Kendall-Palmetto Bay | $698.6K | $759K | +8.7% |
Miami | $500.5K | $535.1K | +6.9% |
Coral Gables | $1.0M | $1.1M | +3.1% |
Pinecrest | $2.0M | $2.0M | +3.0% |
Housing Supply in Coral Gables, FL
How many homes are available in Coral Gables, FL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
347 | 419 | +20.7% |
Summary: The Coral Gables real estate market had 419 homes for sale in February 2024, a 20.7% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 37 | 54 | +45.9% |
2 Bedrooms | 69 | 77 | +11.6% |
3 Bedrooms | 92 | 111 | +20.7% |
4 Bedrooms | 61 | 79 | +29.5% |
5+ Bedrooms | 88 | 98 | +11.4% |
Summary: The Coral Gables housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 45.9%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 29.5%, and 5+ bedroom homes increased by 11.4%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
35 | 38 | +8.6% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Coral Gables in February 2024, up by 8.6% month-over-month. Of the 38 sold homes, 79% were sold under asking, 16% were sold at asking, and 5% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
70 Days | 59 Days | -15.5% |
Summary: Homes in Coral Gables had an average of 59 days on market in Feb 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During February 2024, 38 homes were sold in Coral Gables; 37% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.