Coconut Grove. One of Miami's most beloved and sought-after neighborhoods — and in the first quarter of 2026, the condo market here is delivering a story that is as positive as it gets. More closings than a year ago. Higher prices. Faster sales. This is a market with real momentum.
Let me tell you what makes the Grove condo lifestyle so unique, because the numbers only make sense when you understand why people love living here.
What makes Coconut Grove Condos special starts with the location of the buildings themselves. The majority of the condo towers in the Grove are located along South Bayshore Drive — one of the most beautiful streets in all of Miami, as it runs parallel from the bay, which means most of these towers are bayfront, and units on the right floor and the right side have stunning water views.
But it goes beyond the views. On the bay, there are a large number of marinas — which means if you are a boater, you can literally keep your boat steps from your front door. That is an extraordinary lifestyle advantage that draws a very specific and passionate buyer to this neighborhood.
Then there is the neighborhood itself. The heart of Coconut Grove is CocoWalk — a vibrant, open-air destination filled with local restaurants, bars, shops, and entertainment. It has an energy that is uniquely Grove — relaxed, social, and authentic. Not tourist-driven, but community-driven.
And Coconut Grove is also home to some of the best schools in all of Miami — which means families who buy here are investing in not just a home, but an entire lifestyle and community. That consistent family demand is a big part of what makes this condo market so resilient.
And now let’s take a look the 1st Quarter on a month by month breakdown…
January.
Active Listings = 85.
Closed Sales = 24.
Months of Supply = 4 Months.
Days on Market = 84 Days.
Median Price/Sqft = $832.
Median Price Sold = $1,225,000.
Closed Sales = 24.
February.
Active Listings = 134.
Closed Sales = 30.
Months of Supply = 4 Months.
Days on Market = 71 Days.
Median Price/Sqft = $840.
Median Price Sold = $1,375,000.
Active listings grew to 134 from 85 and if we take a peek at March we see it jumped again to 156 from 85. Let me explain why… December 31, since it’s the end of a year, a lot of listings are set to expire on that day, this is not just in Coconut Grove this is everywhere. So we typically see this ramping up effect in all neighborhoods in the 1st Quarter from January to March, as sellers start to relist their properties, that is what this is a normal function of the real estate market.
March.
Active Listings = 156.
Closed Sales = 30.
Months of Supply = 5 Months.
Days on Market = 31 Days.
Median Price/Sqft = $858.
Median Price Sold = $1,412,500.
Now the year-over-year comparison — and this is where the Coconut Grove condo story really stands out.
Active listings: 112 in Q1 2025 versus 156 in Q1 2026. More inventory came to market this year — but here is what matters: demand grew even faster than supply.
Total closed sales: 55 in Q1 2025 versus 84 in Q1 2026. That is 50% more closings year over year. More buyers found what they were looking for in Coconut Grove and they found it faster — days on market dropped from 75 to 71 days in Q1 2026.
And now look at this… not only did sales increase but so did both:
Price/Sqft and Price Sold. Both metrics moving up meaningfully in the same direction as transaction volume.
Months of supply: 6 — firmly in healthy territory. And even with the large increase of inventory coming to market, the demand absorbed it without any impact on pricing. That is the hallmark of a strong market.
Now we look at the price range activity for Q1 2026 to understand where buyers are transacting in the Grove condo market.
Actives = 156
Closed Sales = 83
Days on Market = 71
Median Price/Sqft = $840
The most active price range was $1-$3 Million with 42 Closed Sales.
The under-$1 million range had 28.
The $3 to $5 Million = 7. The $5 to $10 Million = 5.
And 1 closing in the $10 to $20 Million.
HIghest Priced Closed Sale was for $13.625-Million a high-floor direct bayfront 5 Bedroom condo of almost 7,000 sqft, at The Grovenor House at just under $2,000 per square foot was only on the market for less than 30 Days.
If you are a buyer looking at Coconut Grove condos — the data is telling you to act. Prices are up year over year while Days on market dropped, and Supply is tight at 5 to 6 months. Waiting may not help you here…
If you are a seller in Coconut Grove — this is an excellent time to be in the market. 84 closings in the quarter, prices up, days on market down. The buyers are here and they are active. Price your unit correctly, present it well, and the market will reward you quickly.
As I start my 20th year in the Miami real estate market I can proudly say that our goal in making these videos is to help as many people as we can by sharing real market data to give you a better insight into the local market.