The Coral Gables housing market has experienced notable changes as of January 2025. Here's a concise overview leveraged from current Rocket.com data market to keep Coral Gables homeowners informed:
Q: What is the current median sold price in Coral Gables?
A: Year to date, the median home sold price in Coral Gables is $2,325,000, reflecting a 26% increase from the previous year.
Q: How does Coral Gables compare to neighboring cities in terms of median sold price?
A: In the last 8 months (YTD), the median sold prices in nearby cities were:
- Pinecrest: $2,775,000 (up 1% year-over-year)
- Miami: $760,000 (down 1.3% year-over-year)
- South Miami: $1,175,000 (down 3.9% year-over-year)
- Palmetto Bay: $1,182,000 (up 2.8% year-over-year)
This data indicates that Coral Gables has a higher median sold price than Miami, South Miami, and Palmetto Bay, but remains more affordable than Pinecrest.
Q: How have home prices changed based on the number of bedrooms?
A: Year-over-year changes in median sold prices by bedroom count in Coral Gables are:
- 2 Bedrooms: $1,135,000
- 3 Bedrooms: $1,490,000
- 4 Bedrooms: $2,600,000
- 5+ Bedrooms: $5,487,500
Notably, homes with five or more bedrooms have seen the most significant increase.
Q: What is the current housing inventory in Coral Gables?
A: As of August 2025, there were 197 single family homes and 170 condos or townhomes for sale in Coral Gables, marking an 15% increase year over year.
Q: How do asking prices compare to selling prices?
A: Single family homes in Coral Gables are selling for about 91% of the original asking price year to date for 2025. This is down about 2% year over year. This suggests that buyers often have some room to negotiate.
Q: How long are homes typically on the market?
A: As of August 2025, homes in Coral Gables had an average listing age of 48 days, indicating that properties are staying on the market about 9 days longer than last year.
Q: What does the current market condition mean for sellers?
A: With Coral Gables being a buyer's market, sellers should be prepared for increased competition and may need to price their homes competitively to attract buyers.
Understanding these trends can help homeowners make informed decisions about listing their properties. For personalized guidance, consider consulting with a local real estate professional.
