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Coconut Grove Market Report: Luxury Condos Climb While Home Prices Soften

 
COCONUT GROVE · OCTOBER 2026 MARKET REPORT

Coconut Grove Market Report: Luxury Condos Climb While Home Prices Soften

Coconut Grove has always moved to its own rhythm: banyan-shaded streets, a working marina, and some of the most sought-after waterfront in Miami. This week we look at what the latest numbers say about buying and selling here, and what to do with them.

The Numbers at a Glance
 
 
$1.65M
Median sale price, all property types
Down 8.6% year over year (Redfin)
 
133.5
Average days on market
Homes sell about 6.2% below list (Redfin)
 
$867
Sale price per sq. ft.
Down 6.2% year over year (Redfin)
 
$2.825M
Luxury condo median, Q2 2026
Up 6.7% from $2.6475M (Condo Black Book)
 
33
Luxury condo closings, Q2 2026
Up 37.5% from 24 a year earlier
 
5 months
Luxury condo inventory
Among the tightest on the coastal mainland
Luxury Condo Median Price, Q2
Q2 2025 $2,647,500 
Q2 2026 $2,825,000 
Luxury Condo Closed Sales, Q2
Q2 2025 24 
Q2 2026 33 
Bars show the luxury condo segment only.
What This Means for You
 

If you are buying: The broad market is giving buyers room. Redfin shows homes closing about 6.2% under list price after more than four months on market, with roughly one offer per home. That is a negotiating window, especially on single-family homes and older condos. In the luxury condo segment, inventory is only 5 months, so well-priced, move-in-ready units still draw real competition.

If you are selling: Pricing precision matters more than ever. Homes that sit linger and then discount. Luxury condos with strong views, renovations or walkability to the village are closing at higher prices than a year ago. A realistic list price on day one, backed by recent comparable sales, is the strongest tool you have.

A note on the data: Redfin's figures reflect a small number of recent sales (15 homes sold), so a single month can swing the median. Condo Black Book covers luxury condos only. Read both as signals, not a verdict on every block of the Grove.

Life in the Grove
 
Parks & Waterfront
Peacock Park (9 acres, ball fields and courts), Regatta Park on the bay, and Barnacle Historic State Park, home to Miami's oldest residence.
Shopping & Dining
CocoWalk's open-air boutiques and cinema, Le Specialità Café & Market, and the Michelin-starred Los Félix.
Markets & Culture
The Coconut Grove Farmers Market every Saturday at Grand Avenue and Margaret Street, the Vizcaya Village Farmers Market on Sundays, and Vizcaya Museum & Gardens nearby.
Signature Events
The Coconut Grove Arts Festival each February at Regatta Park, plus Miami Sailing Week and the Bacardi Cup on the water.
Schools
Private school options in and around the Grove include Ransom Everglades and Carrollton School of the Sacred Heart.
Thinking about buying or selling in Coconut Grove? Message us on WhatsApp for a private, no-pressure conversation.
Let's Chat!
 
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Data sources: Redfin, Coconut Grove housing market page (most recent month shown; retrieved October 12, 2026). Condo Black Book, Q2 2026 Mainland Miami Luxury Condo Market Report (dated August 25, 2026). Attractions: Greater Miami & Miami Beach visitor guide. Figures are deemed reliable but not guaranteed.
 
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