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.
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
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
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
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.