Is Coral Gables, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Coral Gables was a Seller's Market.
Key Takeaway
Coral Gables is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Coral Gables, FL
How much do homes in Coral Gables, FL cost?
Median Sold Price
$1,053,000
$662/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Coral Gables have sold for 2.7% less than they did a year ago.
Summary: The median home sold price in Coral Gables was $1,053,000 in March 2024, down 2.7% from last year, and the median price per square foot was $662.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $304.5K | $350K | +14.9% |
| 2 Bedrooms | $615K | $655K | +6.5% |
| 3 Bedrooms | $1.2M | $1.3M | +7.4% |
| 4 Bedrooms | $2.0M | $2.0M | -0.5% |
| 5+ Bedrooms | $4.2M | $3.7M | -10.7% |
Summary: Coral Gables housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 10.7%.
Median Sold Price Compared To Nearby Cities
| Kendall-Palmetto Bay | $701.4K | $776.9K | +10.8% |
| Pinecrest | $2.0M | $2.1M | +7.5% |
| Miami | $505.1K | $540K | +6.9% |
| South Miami | $907.5K | $940K | +3.6% |
| Coral Gables | $1.0M | $1.0M | -2.7% |
Housing Supply in Coral Gables, FL
How many homes are available in Coral Gables, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 405 | 437 | +7.9% |
Summary: The Coral Gables real estate market had 437 homes for sale in March 2024, a 7.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 54 | 55 | +1.9% |
| 2 Bedrooms | 73 | 82 | +12.3% |
| 3 Bedrooms | 113 | 115 | +1.8% |
| 4 Bedrooms | 71 | 77 | +8.5% |
| 5+ Bedrooms | 94 | 108 | +14.9% |
Summary: The Coral Gables housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 14.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 58 | +26.1% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Coral Gables, you may be able to get a good deal. 75.9% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Coral Gables in March 2024, up by 26.1% month-over-month. Of the 58 sold homes, 76% were sold under asking, 14% were sold at asking, and 10% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 76 Days | 66 Days | -12.6% |
Summary: Homes in Coral Gables had an average of 66 days on market in Mar 2024, down by 12.6% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Coral Gables are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 58 homes were sold in Coral Gables; 45% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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