Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market Report

Outpacing both the broader Miami Beach and Greater Downtown Miami groupings in year-over-year sales growth and price appreciation, Q1 2026 trends in Coral Gables and Coconut Grove (combined) point to an increasing demand for boutique luxury living in greener, lower-density neighborhoods, something both areas can easily meet due to their stricter, lower-density zoning.

Opening Q1 2026 on an exceptional note, Gables-Grove recorded its second-highest quarterly sales alongside its second-highest price per square foot of all time. Combined with the quickest closing pace and leanest inventory among all of Miami’s neighborhoods, we expect a stronger-than-usual high season next quarter.

Learn how this premier pairing—which consists of two of the city’s oldest and most tree-lined areas—performed quarter-over-quarter and year-over-year compared the overall Miami market in terms of sales, prices, days on market, and inventory.  

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

— Key Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market Stats

• Sales surged 44.6% year-over-year.

• Price per square foot was up 9.2% year-over-year to $949/sq. ft.

• Sales price was up 10.7% year-over-year to $2M.

• Days on market were down 34% year-over-year to 63 days; Gables-Grove remained the fastest-moving market for luxury condos in Miami.

• Inventory was up 22.2% year-over-year to 11 months, the lowest inventory level of all Miami neighborhoods.

• Coral Gables & Coconut Grove remained a balanced market, contrasting the strong buyer’s market found throughout the Miami area.

— Table of Contents

1. Sales Trends: Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market 

2. Price Trends: Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market

3. Days-on-Market Trends: Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market 

4. Inventory Trends: Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market 

5. Predictions for Q2 2026 and Beyond

6. Q1 2026 Conclusion

— Sales Trends in the Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market: Up YoY

Sales were up 44.6% year-over-year; 12-month sales trendline is positive.

Since 2023, Gables-Grove has led sales-growth statistics in the Miami area. After the Miami Beach neighborhoods briefly took the lead in the second half of 2025, the pairing rebounded in Q1 2026 to post the highest year-over-year sales growth. By comparison, Greater Downtown Miami recorded a 21.7% increase in year-over-year sales, while Miami Beach posted a more modest 5%.

Aligning with the overall Miami market trend of increases in both quarter-over-quarter and year-over-year sales activity, Coral Gables & Coconut Grove reported the following Key Sales Statistics for Q1 2026: 

• Q1 2026 vs. Q4 2025: Sales spiked 58.8% quarter-over-quarter, from 51 in Q4 2025 to 81 this first quarter. (Fig. 1)

• Q1 2026 vs. Q1 2025: Sales soared 44.6% year-over-year, from 56 to 81 in Q1 this year. (Fig.1.1)

Notably, with 81 sales, Q1 2026 marked the pairing’s second-strongest quarter on record, trailing only the Q2 2022 peak of 92 sales.

Coral Gables & Coconut Grove Luxury Condo Quarterly Sales from 2015–2026 - Fig. 2.1

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

The 12-month sales trendline in Fig. 2.3 transitioned from a negative trajectory in Q4 2025 into a positive one in Q1 2026, indicating stronger momentum as we head into Miami’s traditionally busier second quarter.

Pairing the above momentum with the FIFA World Cup 2026, which will be reintroducing Miami to a broader global audience, we expect Coral Gables & Coconut Grove to outperform typical seasonal activity in Q2, with a possible boost for Q3 sales as well.

— Price Trends in the Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market: Up YoY

Q1 2026 price per square foot is up 9.2% to $949; median price is also up year-over-year.

Differing from overall Miami Q1 2026 market trends, where price per square foot declined even as the median price increased year-over-year, Coral Gables & Coconut Grove reported the following Key Price Statistics in Q1 2026: 

• Q1 2026 vs. Q4 2025: Price/sq. ft. improved 2.8% quarter-over-quarter, up from $924 in Q4 2025 to $949 this first quarter. (Fig. 1)

• Q1 2026 vs. Q1 2025: Price/sq. ft. rose 9.2%, up from $869 in Q1 last year to $949 in Q1 2026. (Fig. 1.1)

The 10-year snapshot of quarterly luxury condo prices below (Fig. 3) shows that the price per square foot closed at its second-highest level of all time, just behind the peak of $999/sq. ft. recorded in Q2 2023.

• Q1 2026 vs. Q4 2025: Median sales price rose 17.6% quarter-over-quarter, up from $1.7M in Q4 2025 to $2M in Q1 2026. (Fig. 1)

• Q1 2026 vs. Q1 2025: Median sales price increased 10.7%, up from $1,807,500 in Q1 2025 to $2M in Q1 2026. (Fig. 1.1)

Much of the gains noted above reflect the arrival of new luxury condo inventory, including recently completed projects such as Vita at Grove Isle, combined with more balanced market dynamics relative to the broader Miami buyer’s market. We expect this submarket to deliver stable-to-modest gains throughout Q2.

Coral Gables & Coconut Grove Luxury Condo Quarterly Price per Sq. Ft. 2017–2026 - Fig. 3

— Days-on-Market Trends in the Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market: Down YoY with the Fastest Sales in Miami

In contrast to the overall market trend of increases in both quarter-over-quarter and year-over-year numbers, Coral Gables & Coconut Grove reported the following days-on-market statistics:

• Q1 2026 vs. Q4 2025: Luxury condos spent 48 fewer days on the market compared to Q4 2025, posting a 43% decrease in quarter-over-quarter DOM. (Fig. 1)

• Q1 2026 vs. Q1 2025: Luxury condos spent 33 fewer days on the market compared to Q1 2025, resulting in a 34% decline year-over-year. (Fig. 1.1)

As forecasted in our Q3 2025 report, days on market declined as returning buyer interest strengthened sales momentum. With luxury condos taking a median of 63 days to sell, the Gables-Grove pairing reclaimed its position as Miami’s fastest-selling luxury condo market.

Coral Gables & Coconut Grove Luxury Condo Quarterly Days on Market 2018–2026 – Fig. 4

— Inventory Trends in the Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market: Up YoY and Still the Lowest in Miami

• Q1 2026 vs. Q1 2025: Inventory was up from 9 months in March 2025 to 11 months in March 2026, recording a 22.2% uptick. (Fig. 5)

Despite the increase in inventory, levels stayed within the 9–12-month range associated with balanced conditions. Based on current trends, we anticipate Coral Gables & Coconut Grove to continue to post the lowest levels of inventory among the Miami submarkets and will remain closest to equilibrium throughout 2026.

Coral Gables & Coconut Grove Luxury Condo Months of Inventory from Mar. 2019–Mar. 2026 - Fig. 5

A balanced market has 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 six months.

— Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market: Predictions

Based on current market readings and our long-standing expertise in tracking luxury-housing cycles, we anticipate the following to impact 2026 trends:

• With the FIFA World Cup 2026 shining a global spotlight on Miami, we expect a three-fold effect: stronger luxury rental demand, a modest boost in Q2 and Q3 sales activity, and heightened interest in Miami’s growing collection of short-term-rental-friendly condos.

• Miami’s rise as a global hub for wealth, business, and entrepreneurship is no secret, with influential firms and notable figures such as Citadel, Palantir Technologies, Mark Zuckerberg, and Larry Page redefining the city’s image. We expect to continue attracting high-powered companies and professionals to our shores.

• As taxes intensify across high-cost states like New York, California, and Seattle, we expect Miami’s lack of income tax and talks of expanding homeowner benefits to draw more affluent buyers seeking long-term financial advantages.

• Colombians remained the leading foreign buyers in 2025, helping drive $3.2 billion in international investment across Miami-Dade County, among others. With the U.S. dollar forecasted to remain weak in 2026, foreign demand will likely continue to strengthen.

— Q1 2026 Coral Gables & Coconut Grove Luxury Condo Market: Conclusion

Coral Gables & Coconut Grove collectively emerged as the top-performing Miami luxury condo submarket, where stabilizing HOA fees, lower mortgage rates, and favorable currency-exchange conditions for international buyers translated into a remarkable first quarter.

In Q1 2026, the pairing recorded its second-highest quarterly sales along with its second-highest price per square foot ever. Between Greater Downtown Miami and the Miami Beaches, Gables-Grove also had the lowest days on market. With 11 months of inventory, it’s the only Miami submarket currently offering balanced conditions for buyers and sellers.

Looking ahead, the positive 12-month sales trendline combined with the global traction surrounding the FIFA World Cup 2026 points to continued momentum for Coral Gables & Coconut Grove. As luxury Miami market specialists, we anticipate the duo to deliver a stronger-than-usual high season, with the possibility of elevated momentum continuing into Q3.

Make a data-driven decision on your next home or investment property with the guidance of our expert team. Call, text, or email us today to talk about the right Coral Gables or Coconut Grove condo for you.