Coral Gables and Coconut Grove Luxury Condo Market Report - Q2 2025

In Q2 2025, this pairing of tropically lush neighborhoods continued to grow as predicted. Coral Gables and Coconut Grove (combined) outpaced Greater Downtown and the Miami Beaches with the strongest year-over-year sales volume growth, notable price gains, and the fastest days on market—despite a slower high season for the rest of the market.

The duo also posted the lowest levels of inventory, making it the most balanced among Miami’s major luxury sub-markets in an otherwise buyer-friendly environment and cementing its status as one of Miami’s most resilient and high-potential luxury condo markets. Heading into the historically slower third quarter, we’ll be watching closely to see how the area responds to growing positive headlines around lower condo fees, declining insurance costs, and other positive policy shifts in South Florida.

In this full-length luxury condo market report for Q2 2025, we analyze how Coconut Grove and Coral Gables, two of Miami’s oldest and most beautiful neighborhoods, performed quarter-over-quarter and year-over-year during what is typically high season, as well as compared to the overall Miami market in terms of sales volume, prices, days on market, and inventory.

For the purpose of this Miami submarket luxury condo report, we've only included properties priced $1 million and above.

Key Q2 2025 Housing Market Stats: Coral Gables and Coconut Grove Luxury Condo Market

• Sales volume up 9% year-over-year, indicating strong demand.
• 12-month sales volume trendline positive for ninth quarter in a row, from Q2 2024 to Q2 2025.
• Price per square foot up 5% year-over-year to $855/Sq. Ft.
• Sales price up 14% year-over-year to $1.8M.
• Days on market down 8% year-over-year to 53 days, making these the fastest-selling of all Miami neighborhoods in our quarterly review.
• Inventory up 20% year-over-year to 12 months, continuing to report the lowest levels in Miami, and just at the upper end of a balanced market.
• Coral Gables & Coconut Grove (collectively) again closed as a soft buyer’s market.

Table of Contents

1. Q2 2025 Coral Gables & Coconut Grove Luxury Condo Sales Trends
2. Q2 2025 Coral Gables & Coconut Grove Luxury Condo Price Trends
3. Q2 2025 Coral Gables & Coconut Grove Luxury Condo Days on Market Trends
4. Q2 2025 Coral Gables & Coconut Grove Luxury Condo Inventory Trends
5. Q2 2025 Conclusion
   

— ​Q2 2025 – Coral Gables & Coconut Grove Luxury Condo Sales Trends: Up YoY

Sales volume up 8.8% year-over-year; 12-month sales trendline positive

Maintaining its standing as Miami’s top-performing market, the combined neighborhood of Coral Gables and Coconut Grove again surpassed the broader groupings of Miami Beach (-9.3%) and Greater Downtown (-18.7%) in terms of year-over-year sales volume growth. 

This high-performing duo reported the following Key Sales Statistics for Q2 2025:

• Q2 2025 vs Q2 2024: Sales volume increased 8.8%, up from 57 in Q2 last year to 62 in the same quarter this year. (Fig.1.1)
• Q2 2025 vs Q1 2025: Sales volume also increased 10.7% quarter-over-quarter, up from 56 in the previous quarter to 62 in Q2 2025. (Fig. 1)

It’s also worth noting that the combined neighborhood of Coral Gables and Coconut Grove has posted consistent sales volume growth over the past 11 quarters (Fig. 2.1), reflecting a shift in buyer interest towards Miami’s lower-density enclaves that offer more boutique housing options set either along the bayfront or immersed in nature.

Looking into the Monthly Sales Volume Statistics of Fig. 2.2 for Coral Gables and Coconut Grove:

• April closed with 30 sales this year, a notable increase from the 18 sales noted in the same month of 2024.
• May 2025 closed with 16 sales, lower than the 21 sales recorded a year ago.
• June 2025 closed with 16 sales, also lower than the 18 sales recorded during the same month last year.

Keeping its upward trajectory for a ninth straight quarter, the positive 12-month Sales Trendline of Fig. 2.3 suggests that this dynamic grouping is poised to continue outperforming most Miami neighborhoods, even as we head into the typically softer third and fourth quarters.

Coral Gables & Coconut Grove Luxury Condo Quarterly Sales Volume 2015 - 2025 - Fig. 2.1

Coral Gables & Coconut Grove Luxury Condo Monthly Sales Volume from Jan. 2016 to Jun.2025 - Fig. 2.2

Coral Gables & Coconut Grove Luxury Condo 12-Month Sales Volume with Trendline - Fig. 2.3

— Q2 2025 – Coral Gables & Coconut Grove Price Trends: Up YoY

Q2 2025 Price per Square Foot up 4.8% to $855; Median Price also up year-over-year

Echoing the overall Miami trend of an increase in year-over-year price per square foot and median price, the Key Price Statistics for Coral Gables and Coconut Grove (collectively) in Q2 2025 were as follows:

• Q2 2025 vs Q2 2024: Price per square foot increased 4.8%, up from $816 in Q2 last year to $855 for the comparable quarter this year. (Fig. 1.1)
• Q2 2025 vs Q1 2025: Price per square foot remained mostly flat, adjusting -1.6% quarter-over-quarter, marginally down from $869 in Q1 2025 to $855 this second quarter. (Fig. 1)

A look at the 9-year snapshot of quarterly luxury condo prices below (Fig. 3) shows that the price per square foot closed in the higher ranges, indicating that most sellers continued receiving good returns on their luxury condo investments in this strong pairing. However, moving into the historically slower half of the year, we anticipate some price pressure in this segment, as the buyer’s market continues to exert greater influence.

• Q2 2025 vs Q2 2024: Median sales price also increased 14.1%, up from $1,600,000 in Q2 last year to $1,825,000 in the same quarter 2025 (Fig. 1.1).
• Q2 2025 vs Q1 2025: Median sales price remained mostly flat, adjusting 1% quarter-over-quarter, slightly up from $1,807,500 in Q1 2025 to $1,825,000 in this second quarter. (Fig. 1)

Coral Gables & Coconut Grove Luxury Condo Quarterly Price per Sq. Ft. 2017-2025 - Fig. 3

— Q2 2025 – Days on Market Trends: Down QoQ, Up YoY; Miami’s Fastest-Selling

Days on Market rose 8% year-over-year. Partly deviating from the overall Miami market trend of an increase in quarter-over-quarter and year-over-year numbers, Coral Gables and Coconut Grove (collectively) reported the following days on market statistics:

• Q2 2025 vs Q2 2024: Luxury condos spent 4 extra days on market compared to the same quarter a year ago, reporting an 8% increase in year-over-year stats (Fig. 1.1).
• Q2 2025 vs Q1 2025: Luxury condos spent 43 fewer days on market compared to Q1 2025, recording a notable 44.8% drop in quarter-over-quarter days on market, highlighting this sub-market’s positive response to peak season energy (Fig. 1).

With luxury condos taking only 53 days on average to sell, this Gables-Grove pairing reclaimed its position as Miami’s fastest-selling market, bouncing back after the previous quarter’s brief pause.

Coral Gables & Coconut Grove Luxury Condo Quarterly Days on Market 2018-2025 – Fig. 4

— Q2 2025 - Coral Gables & Coconut Grove Inventory Trends: Up YoY; Remains Lowest in Miami

Coral Gables and Coconut Grove once again had the lowest figure in Miami, closing Q2 2025 with 12 months of inventory. Partially aligning with the overall Miami market trend of lower quarter-over-quarter and higher year-over-year inventory, luxury condos in this area reported the following stats for Q2 2025:

• On a quarter-over-quarter basis, inventory stayed flat at 12 months between March and June 2025. (Fig. 5)
• On a year-over-year basis, inventory increased from 10 months in June 2024 to 12 months in June this year, posting a 20% uptick.
• Coral Gables & Coconut Grove (collectively) again recorded the lowest levels of inventory among all Miami neighborhoods in our quarterly analysis.

With inventory expectedly closing within the 9 to 12-month range of a balanced market, Coral Gables and Coconut Grove again concluded the quarter as a soft buyer’s market. This means buyers still hold the edge with more choices and room to negotiate, while well-positioned sellers can still secure strong returns.

As luxury housing experts, we anticipate inventory to trend slightly above its ideal range as we head into the traditionally slower half of the year, keeping the market largely in favor of buyers through the end of 2025, though still rewarding well-marketed listings.

Looking to buy a luxury home in these lush, scenic neighborhoods? Use our customizable search filters to discover the best Coral Gables and Coconut Grove condos for sale.

Coral Gables & Coconut Grove Luxury Condo Months of Inventory from Mar. 2019 to Jun.2025 - Fig. 5

A balanced market has only 9-12 months of inventory. The months of inventory are calculated as the number of active listings plus the number of pending listings divided by the average number of deals in the last 6 months.

If you’d like a free market evaluation of your luxury property, please call, email, or chat to connect with one of our experienced Miami real estate professionals.

— Q2 2025 - Coral Gables & Coconut Grove Luxury Condo Market Conclusion

Even with the overall Miami market reporting a muted high season, Coral Gables and Coconut Grove (collectively) followed up their above-average first quarter performance with both quarter-over-quarter and year-over-year sales volume growth this second quarter. 

Q2 2025 marked a rise in sales volume for this pairing, not only outpacing the broader Miami Beach and Greater Downtown markets, but also showing a growth trajectory that has been consistently gaining strength over the past three years, with nine out of the past eleven quarters reporting gradually increasing sales volume. This is further evidenced in the 12-month Sales Trendline keeping its upward trajectory for the ninth straight quarter.

As luxury market experts, we anticipate Coral Gables and Coconut Grove to maintain positive year-over-year sales volume even as we enter the typically slower third quarter, further underscoring the long-term growth potential of this pairing of historically-significant neighborhoods.

In our year-over-year price analysis, both the price per square foot and the median sales price reported a year-over-year increase, showing that sellers continued receiving solid returns in Q2 2025. While the price per square foot closed at $855 with a 4.8% year-over-year increase, the median sales price closed at $1,825,000 with a 14.1% year-over-year gain.

Additionally, this high-paced market emerged as the fastest-selling of Q2 2025 in Miami, with luxury condos selling in an average of just 53 days—significantly lower than the overall market average of 79 days.

Coral Gables and Coconut Grove (combined) again recorded the lowest levels of inventory in Miami at 12 months, providing buyers and sellers equal opportunities in an otherwise buyer-friendly market.

As seasoned experts in Miami’s luxury condo space, we anticipate the following factors will drive market trends as we move into the slower-paced third quarter:

• As news of House Bills 913 and 939 bringing condo owners financial relief and potentially lowering costs for future buyers as well as double-digit insurance rate drops gaining traction, we expect renewed buyer interest to build through 2025, setting the stage for a stronger 2026. Add to this Governor DeSantis' proposal to abolish property taxes altogether and we could witness Miami’s second boom cycle since the pandemic.
• As President Trump’s OBB Bill offers HNWI and UHNWI more liquidity and savings through generous tax breaks, we expect this—paired with growing political and financial discontent in high-tax cities like New York—to drive more second-home and primary residence purchases in Miami’s low-tax, pro-business real estate market.
• As the upcoming FIFA World Cup boosts Miami’s global profile, we expect heightened investor interest and a spike in buyer activity before and after the event.
• Although we expect landmark pre-construction projects such as the Four Seasons Private Residences to keep Coral Gables and Coconut Grove in the investor and homebuyer spotlight, we also expect a steady influx of new construction deliveries, such as Vita at Grove Isle and The Avenue, to keep inventory levels slightly elevated through the end of 2025.

Want to explore the numbers behind your next move? Let’s talk about the right Coral Gables or Coconut Grove home for you. Contact Sep at sniakan@blackbookproperties.com or call 305-725-0566.

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