What is happening in the Coral Gables Real Estate Market?
Today we are looking at the 2nd Quarter of 2025 for single family homes in Coral Gables which is one of the most desired neighborhoods in all of Miami. We divide the homes into Waterfront (in light blue) and Non-Waterfront as there is a big disparity and we want to highlight that for you. The first graph shows the 2nd Quarter, month by month Active Listings = Increased from April to June by a lot.
We normally say this is not good, however we dove deeper into the numbers because we saw this occur in the neighborhoods we cover and found that this is a market phenomena as most Listing's when they are taken are set to Expire around the end of the Quarter which is March 31st. We found that right around this date a lot of Listings Expire and fall off the market, and then as the days and weeks go by they get Listed again which is why we see a ramping up of Listings from April to June.
All that said this is a large increase and we need to see if this is inline with previous quarters. Closed Sales decreased, Months of Supply went up which is not a good sign, and all other numbers held steady or did not change much except for the Median Price Sold of Waterfront homes so we are getting some mixed signals from this graph. Let's take a look at our next graph to compare this 2nd Quarter to the 1st to see if we can spot any trends... Active Listings hit 200 which is the highest we have seen in the Gables this year so far while Closed Sales also increased which is good for the market and Months of Supply went down while Median Price/Sqft inched down a bit and Median Price Sold for non-waterfront homes held steady while Waterfront homes decreased. But overall from what we see here the 2nd Quarter was better than the 1st for homes in Coral Gables now we need to see if that trend continues through the summer months and the 3rd Quarter.
The market moves fast here as DOM was low at 50 Days and only 74 Days for Waterfront homes which given the High Median Price shows the strength of the market in Coral Gables. Let's take a look at our last graph to see where the market stands today and what price range the activity is taking place in... We see Closed Sales in each price range all the way up to $10 Million, while above $10 Million there were only 4 Closed Sales for the Quarter which we will note this price range is in the midst of a slowdown in all the areas we cover. The $1 to $3-Million price range has the most activity for both Actives and Closed Sales. Highest Priced Closed Sale was $23,400,000 for a waterfront home on Granada, a 7-Bedroom home with over 13,000sqft for $1,700/sqft. The Lowest Priced sold was a 2-bedroom home, for $499,500 and looks like it sold for land value.
In summary, we can see right now the market for single family homes in Coral Gables is pretty healthy as Closed Sales are good, Days on Market is low as is Months of Supply and pricing seems to be holding which are all great signs. One negative is the # of Active Listings is the highest we have seen this year so far, and we need to see how the market reacts to this as summer is typically a slower selling season.
For Buyers looking for homes in Coral Gables inventory has increased which is good for you, however the market moves rather fast here as Days on Market is 50 days and only 74 for waterfront even though the Median Price is high which is an indication of strong demand for single family homes in this market. So if you find a home you like we suggest submitting an offer right away and try and negotiate.
For Seller's, understand that while homes are selling and demand seems strong, inventory is the highest it has been this year so far and now the summer season which can be a bit slower you have to be careful and make sure you price your home properly which we suggest pricing it a bit below the market just to attract the most attention possible when coming on the market especially if you need to sell.
Also understand that interest rates remain high and Buyers are exhausted so they are very sensitive to price. We also want to point out that this market will reward you if your home is in turnkey condition, we can tell you that if your home has not been updated in years it will take a long time to sell unless you heavily discount the price. One other thing to note is that Buyers definitely see the value and are paying a premium for New Construction homes which we feel will remain this way going forward. That's our 2nd Quarter of 2025 Market Update for single family homes in Coral Gables.
I am Jose Laya, and I was born and raised in Miami, and as I start my 19th year in the real estate market I can proudly say that our goal in making these videos is to provide you with value by sharing with you real market data to give you a better insight into the local market.
If you have any questions feel free to reach out.
Thank you for watching and we will see you soon.