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Coral Gables Market Report: The City Beautiful Is Moving a Week Faster Than Last Year

Coral Gables Market Report  |  August 2026

The City Beautiful Is Moving a Week Faster Than Last Year

Coral Gables prices look flat on paper. Price per square foot is up 10.3%. Here is what is really happening under the headline number, and what it means if you are buying or selling in the Gables right now.

Coral Gables has always played by its own rules. George Merrick's 1920s street plan, the banyan canopy along Coral Way, coral rock arches, and a Board of Architects that still governs what you can build and how you can paint it. This is one of the few Miami neighborhoods where scarcity is written directly into the zoning code.

That scarcity is showing up in this summer's numbers. Homes are trading roughly a week faster than a year ago, price per square foot is climbing at double digits, and buyers are still finding room to negotiate off the asking price. Three data points that look contradictory until you see what sits underneath them.

Coral Gables By the Numbers

Typical Home Value

$1,576,723

▲ 3.2% year over year

Median Sale Price

$1.7M

Essentially flat vs. last year

Price Per Sq Ft

$822

▲ 10.3% year over year

Days on Market

83 days

Down from 90 a year ago

Homes For Sale

315

60 new listings in June

Sale-to-List Ratio

96.2%

82.2% closed under asking

Where Coral Gables Sits

Median sale price compared with the wider market

Coral Gables  ·  $1,700,000

Miami-Dade single-family  ·  $680,000

Florida single-family  ·  $425,000

U.S. existing homes  ·  $429,300

Coral Gables via Redfin (July 2026). County, state and national medians via MIAMI REALTORS, Florida Realtors and NAR (May 2026).

What These Numbers Actually Mean

The flat median hides a rising market. Median price barely moved year over year while price per square foot climbed 10.3%. That combination tells you the mix of what sold changed, not that values softened. Buyers are getting less house for the same headline number, which is the quiet way a market appreciates.

If you are selling

The 96.2% sale-to-list ratio deserves your attention. More than eight in ten Coral Gables homes closed below asking. Across Miami-Dade, sellers received a median 95% of their original list price in May.

You do have leverage. Countywide single-family inventory fell 19.1% year over year and supply sits at 5.2 months, which is firmly a seller's market. The way that leverage gets spent is by testing the ceiling, sitting, and correcting later. Pricing at the number a well-prepared home can actually defend is what separates an 83-day sale from a 160-day one.

If you are buying

315 active listings and an 83-day average give you something Miami rarely offers, which is time to think. The negotiating room is real, and it is narrowing. Miami-Dade single-family sales above $1 million rose 26.7% year over year in May, from 232 homes to 294.

Cash accounted for 38.7% of all Miami closings in May. When you compete for a Gables home, you are often competing with a buyer who does not need an appraisal to cooperate and does not care what the 30-year rate did last week.

The Gables does not reward speed. It rewards preparation: knowing which street, which lot, which renovation the Board of Architects will approve, and what a comparable sale two blocks over really tells you.

Life in Coral Gables

What you are buying, beyond the square footage

Dining and shopping. Miracle Mile and Giralda Plaza anchor the walkable core, with independent retailers and international kitchens along a pedestrian-first strip. The Shops at Merrick Park bring the luxury tier a few blocks north.

Landmarks. The Venetian Pool, carved from a coral rock quarry and fed by natural aquifer, reopened after a full restoration. The Biltmore Hotel and its golf course remain the neighborhood's signature address, and the Coral Gables Merrick House shows you where the whole plan began.

Parks and green space. Fairchild Tropical Botanic Garden, Matheson Hammock Park with its atoll pool on Biscayne Bay, and the banyan-shaded residential streets that give the city its canopy.

Culture. Books & Books on Aragon, Coral Gables Art Cinema for independent film, the Coral Gables Museum, and the gallery corridor along Ponce de Leon Boulevard.

Community events. The Coral Gables Farmers Market sets up in front of City Hall at 405 Biltmore Way for its winter season, with local produce, prepared food, florists, workshops and activities for children. The city maintains a full events calendar year round.

Schools. The University of Miami sits inside city limits, alongside Coral Gables Senior High and a deep bench of private options including Gulliver Preparatory.

Curious what your Coral Gables home would bring in this market?

Let's Chat!

Or browse current Coral Gables listings at polrealty.com

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Pol Realty  ·  Miami, Florida

Data sources, retrieved August 10, 2026: Zillow Home Value Index and market overview for Coral Gables (data through June 30, 2026); Redfin Coral Gables housing market (July 2026); MIAMI REALTORS + RWorld Miami-Dade May 2026 market report; Florida Realtors and the National Association of REALTORS, May 2026. Figures reflect the reporting periods noted and are provided for general information, not as an appraisal or valuation of any specific property.

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