Coral Gables and Coconut Grove Luxury Condo Market Report - Q3 2025

After recording 11 consecutive quarters of growth, a brief pause was both expected and inevitable. That's precisely what unfolded in the Coral Gables and Coconut Grove (combined) submarket as Miami's luxury condo sector entered its usual seasonal breather in Q3 2025. 

Even so, this dynamic duo maintained its standout status by reporting stable sales, along with the fastest days on market and the lowest inventory levels among all Miami neighborhoods featured in our overall report.

With just 10 months of surplus inventory, this Gables-Grove pairing offered buyers and sellers a level playing field in a broader buyer-friendly real estate landscape. 

And with another traditionally slow quarter ahead, we'll be watching closely to see how this pairing responds to an increasingly positive market environment supported by stabilizing condo fees, declining insurance premiums, lower mortgage rates, and possible political shifts in New York that are poised to favor South Florida.

In this full-length luxury condo market report for Q3 2025, we analyse how Coconut Grove and Coral Gables—two of Miami's oldest and most beautiful neighborhoods—performed quarter-over-quarter and year-over-year, as well as compared to the overall Miami market in terms of sales, 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 Q3 2025 Coral Gables and Coconut Grove Luxury Condo Market Stats:

• Sales match previous year momentum, confirming good market health.
• 12-month sales trendline positive for 10th consecutive quarter—Q2 2023 through Q3 2025—indicates room for stable growth.
• Price per Square Foot down 6.7% Y-o-Y to $826/Sq. Ft.
• Sales Price flat year-over-year at $1.7M.
• Days on Market up 75% year-over-year to 56 days, still maintains its lead as Miami's fastest-selling submarket.
• Inventory down 16.7% year-over-year to 10 months, continues as Miami's most dynamic market with lowest levels of all the neighborhoods under review.
• Coral Gables & Coconut Grove (collectively) again closed on a more balanced note, offering equal opportunities in an otherwise strong buyer's market across Miami.

Table of Contents

1. Sales Trends: Q3 2025 Coral Gables & Coconut Grove Luxury Condo 
2. Price Trends: Q3 2025 Coral Gables & Coconut Grove Luxury Condo 
3. Days on Market Trends: Q3 2025 Coral Gables & Coconut Grove Luxury Condo 
4. Inventory Trends: Q3 2025 Coral Gables & Coconut Grove Luxury Condo 
5. Q3 2025 Conclusion
   
   

​— Q3 2025 Coral Gables & Coconut Grove Luxury Condo Sales Trends: Flat-positive YoY

Sales flat-positive year-over-year; 12-month sales trendline positive

After leading Miami's growth trends since 2023, the combined Coral Gables and Coconut Grove submarket took an expected pause in Q3 2025. 

Still, the pairing remained one of Miami's steadier performers amongst the three broader groupings under review, posting positive year-over-year sales even as the Greater Downtown area reported a decline (-17.1%). (Miami Beach (collectively) emerged as the market leader this third quarter, with a 19.5% year-over-year increase in sales.)

Mostly aligning with the overall Miami market trend of an increase in year-over-year and decline in quarter-over-quarter sales, Coral Gables and Coconut Grove (collectively) reported the following Key Sales Statistics for Q3 2025:

• Q3 2025 vs Q3 2024. Sales recorded a modest improvement compared to the previous year, adjusting by 1.8%, slightly up from 57 in Q3 of 2024 to 58 sales in Q3 this year. (Fig.1.1)
• Q3 2025 vs Q2 2025. Sales declined 7.9% quarter-over-quarter, down from 63 in the second quarter to 58 in Q3 2025. (Fig. 1)

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

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

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

• July closed with 19 sales this year, down from the 21 sales in the same month a year ago.
• August closed with 20 sales, higher than the 19 sales recorded in the same time in 2024.
• September 2025 closed with 19 sales, again higher than the 17 sales recorded in the comparable month of 2024.

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

Maintaining a positive course for the 10th quarter in a row, the 12-month Sales Trendline of Fig. 2.3 indicates that this pairing is poised for steady performance, even as we move through the historically softer phase of the year. 

Combining this with a return of buyer interest driven by lower insurance and mortgage rates plus a shifting political landscape in New York, as condo market experts, we expect this stable submarket to conclude the year on solid footing, with potential for a year-end upswing.

— Q3 2025 – Coral Gables & Coconut Grove Price Trends: Down YoY

Q3 2025 Price per Square Foot down 6.7% to $826; Median Price flat year-over-year

Moving in contrast to the increases noted in the year-over-year Price per Square Foot and Median Price trends in the overall Miami market, the Key Price Statistics for Coral Gables and Coconut Grove (collectively) in Q3 2025 were as follows:

• Q3 2025 vs Q3 2024. Price/Sq. Ft. declined 6.7%, down from $885 in Q3 last year to $826 in the same quarter of 2025. (Fig. 1.1)
• Q3 2025 vs Q2 2025. Price/Sq. Ft. decreased 3.6% quarter-over-quarter, down from $856 in Q2 2025 to $826 this third quarter. (Fig. 1)

A review of the 9-year snapshot of quarterly luxury condo prices below (Fig. 3) shows that the price per square foot continued closing in the higher ranges, indicating that most sellers continued receiving good value for their luxury properties in this pairing neighborhoods despite this quarter's declines. 

As luxury housing experts, we expect a mild price correction ahead, though well-positioned and well-marketed residences are still expected to command strong returns based on our daily market observations.

• Q3 2025 vs Q3 2024. Median Sales Price stayed mostly flat (-0.4%), marginally down from $1,725,000 in Q3 2024 to $1,717,500 for the comparable quarter of 2025. (Fig. 1.1)
• Q3 2025 vs Q2 2025. Median Sales Price dropped 7.2% quarter-over-quarter, down from $1,850,000 in Q2 2025 to $1,717,500 this third quarter. (Fig. 1)

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

— Q3 2025 Days on Market Up QoQ & YoY – Remains Miami's Fastest-Selling

Days on Market rose 75% year-over-year. Partly deviating from the overall market trend of a decline in quarter-over-quarter and increase in year-over-year numbers, Coral Gables and Coconut Grove (collectively) reported the following days on market statistics:

• Q3 2025 vs Q3 2024. Luxury condos spent 24 more days on the market compared to the same quarter a year ago, reporting a 75% uptick in year-over-year stats. (Fig. 1.1)
• Q3 2025 vs Q2 2025. Luxury condos spent 3 extra days on the market compared to Q2 2025, resulting in a 5.7% increase in quarter-over-quarter DOM. (Fig. 1)

As luxury condos took only 56 days to sell on average in Q3 2025, Coral Gables & Coconut Grove (combined) retained its status as the fastest-selling market in Miami. 

Though the statistic reflects longer decision-making timelines compared to a year ago, more realistic pricing from sellers, coupled with anticipated growth in buyer demand, leads us to expect a reduction in days on market as we move toward next year's peak season (historically Q2).

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

— Q3 2025 - Coral Gables & Coconut Grove Inventory Down YoY; Still Lowest in Miami

Q3 2025 closed with 10 months of inventory. Positively deviating from the overall Miami market trend of higher quarter-over-quarter and year-over-year inventory, luxury condos in this tropically lush pairing reported the following stats for Q3 2025:

• On a quarter-over-quarter basis, inventory was down from 12 months in June this year to 10 months in September 2025, reporting a 16.7% decrease. (Fig. 5)
• On a year-over-year basis, too, inventory trended down from 12 months in September 2024 to 10 months in September this year, posting a similar 16.7% decline.

Even with the market moving through the traditionally slower half of the year, Coconut Grove and Coral Gables (combined) continued reporting the lowest months of inventory among all Miami neighborhoods in our analysis.

At 10 months, inventory fell within the ideal 9-12-month range, offering balanced opportunities in an otherwise buyer-leaning Miami market. This gives both buyers and sellers equal footing at the negotiation table, supporting fair outcomes for both sides.

As luxury condo market experts, we anticipate inventory to remain closest to equilibrium in this area, even as we move through the slower cycle of the year, positioning Coral Gables & Coconut Grove to again conclude the upcoming quarter with the lightest surplus among the Miami submarkets in our review.

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

Coral Gables & Coconut Grove Luxury Condo Months of Inventory from Mar. 2019 to Sep.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 local real estate professionals.

— Q3 2025 - Coral Gables & Coconut Grove Luxury Condo Market Conclusion

In Q3 2025, this submarket took an expected breather from its exceptional run since 2023. Yet the pairing continued to stand out as one of Miami's most dynamic performers, marked by steady sales, the quickest closing pace (or days on market), and the leanest inventory in our market-wide review. 

Matching last year's energy, Coral Gables and Coconut Grove (collectively) logged flat-positive sales, aligning with the overall market trend of year-over-year sales growth. As a result, the 12-month Sales Trendline kept its upward trajectory for the tenth quarter in a row, indicating steady demand and growth potential.

In our year-over-year price watch, both the Price per Square Foot and Median Sales Price recorded a decline—capturing a modest normalization driven by broader buyer's market conditions in Miami. While the Price per Square Foot closed at $826, down 6.7% year-over-year, the Sales Price closed almost flat at $1,717,500, with a marginal correction.

Additionally, this high-paced market retained its title as Miami's fastest-selling submarket, with luxury condos selling in an average of just 56 days, well below the overall market average of 81 days.

Coral Gables and Coconut Grove (combined) continued reporting the lowest inventory levels in Miami at 10 months, providing a balanced environment where both buyers and sellers can negotiate from a position of relative strength, even as the broader Miami market remained buyer-friendly.

With our long-standing expertise in Miami's luxury condo sector, we foresee the following factors impacting market trends in the final quarter of 2025:

• With mortgage rates at year-long lows and insurance premiums declining by double digits, we expect a boost in buyer confidence. Add to that stable condo fees brought about by the impact of HB 913 and HB 939, and we anticipate buyer momentum to build steadily through late 2025 and into the first half of 2026.
• With a possible Zohran Mamdani win adding to the growing political and financial discontent in New York, we expect a renewed wave of high-net-worth migration to spark Miami's next luxury condo boom cycle.
• With Miami preparing to welcome up to one million World Cup visitors next year—and Airbnb serving as the event's official partner—we expect the city's expanding roster of short-term rental-friendly luxury condos to gain significant global visibility.
• With Miami overtaking New York as the leading global destination for ultra-high-net-worth second-home buyers, we expect a rise in affluent inflows attracted to our fabulous beaches, active lifestyle, business-friendly environment, cultural vibrancy, and premier luxury condo options such as the iconic Grove at Grand Bay, recently constructed Mr. C Residences Bayshore Tower, the nearly complete Vita at Grove Isle, and the upcoming Four Seasons Private Residences Coconut Grove.

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.