The Coral Gables real estate market is not one market right now. Based on Compass data covering August 31, 2025 through July 30, 2026, single-family homes averaged $1,237 per square foot, 69 days on market, 4.8 months of inventory and an 87% list-to-sold ratio. Condos averaged $533 per square foot, 108 days on market, 7.7 months of inventory and a 91% list-to-sold ratio.

The takeaway for Coral Gables buyers and sellers: property type matters. Single-family homes are operating in a tighter market, while condo buyers generally have more inventory and more time to make decisions.

What Is Happening in the Coral Gables Real Estate Market?

Coral Gables continues to be one of Miami's most desirable residential markets, but looking at a single citywide statistic doesn't tell the whole story.

The difference becomes especially clear when we separate Coral Gables single-family homes from Coral Gables condos.

Here is the Compass data from the 12-month period ending July 30, 2026:

Source: Compass Brokerage data, 8/31/2025–7/30/2026.

The most important number in this table may actually be months of inventory.

At 4.8 months, single-family inventory remains considerably tighter than the 7.7 months available in the condo market. That creates very different negotiating environments for buyers and sellers.

Coral Gables Single-Family Homes: Inventory Is Still Relatively Tight

For single-family homes, Compass reported 4.8 months of inventory during the study period.

Homes also averaged 69 days on market and $1,237 per square foot.

More recent 2026 data supports the broader picture of a valuable single-family market. Zillow reported a typical Coral Gables home value of approximately $1.57 million as of July 31, 2026, up 4.9% over the previous year.

Another Q1 2026 analysis put the average Coral Gables single-family sale price at more than $3.4 million, with 88 closings during the quarter, illustrating just how much luxury activity can influence averages in this market.

What does that mean for a Coral Gables homeowner?

It doesn't mean every house will sell quickly or that sellers can choose any asking price.

In fact, the Compass data's 87% list-to-sold ratio is an important reminder that buyers remain price-conscious.

A desirable address alone isn't enough.

Condition + location + pricing + presentation + marketing strategy still determine the result.

For sellers, I would interpret this as a market where you can have leverage if the property is positioned correctly from the beginning.

Coral Gables Condos Tell a Different Story

The condo numbers immediately caught my attention.

During the same period, Coral Gables condos had:

7.7 months of inventory
108 average days on market
$533 average price per square foot
91% list-to-sold ratio

That's substantially more inventory and a longer marketing period than single-family homes.

And newer data continues to show elevated condo supply. One September 2026 market snapshot reported 9.1 months of inventory for Coral Gables condos and townhomes, compared with 5.7 months for single-family homes.

That doesn't mean there isn't demand for condos.

It means buyers can be more selective.

Why the Coral Gables Condo Market Is So Property-Specific

This is something I'm seeing firsthand with buyers.

A buyer may tell me:

“I want a three-bedroom condo in Coral Gables.”

That sounds like a broad search—until we start adding the requirements.

They may want to be near Miracle Mile or Downtown Coral Gables, need 1,800+ square feet, want an updated interior, impact windows and doors, strong reserves, an acceptable SIRS report, appropriate insurance coverage, good parking and a building without significant upcoming assessments.

Suddenly, 7.7 months of condo inventory doesn't necessarily mean 7.7 months of desirable inventory for that particular buyer.

That's an important distinction.

There can be plenty of condos for sale while the inventory that checks a specific buyer's boxes remains extremely limited.

Buyers Shouldn't Treat All Coral Gables Condos the Same

In today's Florida condo environment, the individual unit is only part of the purchase.

Buyers also need to evaluate the building.

That can include financial reserves, association budgets, insurance, assessments, structural reports, SIRS requirements, maintenance history and upcoming capital projects.

So two similarly priced condos a few blocks apart can present very different financial pictures.

This is why price per square foot alone doesn't tell me whether a Coral Gables condo represents good value.

What Does 108 Days on Market Mean for Condo Buyers?

It can mean opportunity.

When the average condo is spending more than three months on the market, buyers may have more room to thoroughly evaluate the property and negotiate based on the unit, building and seller's circumstances.

But I wouldn't automatically assume that a listing with a high number of days on market is overpriced.

There could be a building-specific issue, assessment, financing limitation, condition issue—or simply a smaller pool of buyers for that particular unit.

Days on market should start the conversation, not end it.

What Does This Market Mean for Coral Gables Condo Sellers?

The 7.7 months of inventory makes positioning particularly important.

If I'm bringing a Coral Gables condo to market when buyers have multiple alternatives, I want to answer one question before we launch:

Why should a buyer choose this unit over everything else available?

That answer might be the location.

It could be the view, square footage, renovated interior, terrace, impact windows, financial health of the building, parking, walkability to Miracle Mile or a particularly desirable floor plan.

Whatever it is, we need to identify it and make it central to the marketing.

With 108 average days on market, simply listing a condo and waiting isn't much of a strategy.

Compass Holds a Significant Share of the Coral Gables Market

Another number worth noting is Compass's presence in Coral Gables.

According to the Compass data provided, there were 717 closed Coral Gables sales during the 12-month period ending July 30, 2026. Compass represented 178 of those transactions.

That's approximately:

25% of all Coral Gables closed sales—or nearly 1 out of every 4.

That level of activity matters.

It means Compass agents are participating in a significant portion of the conversations happening between Coral Gables buyers, sellers and agents.

For my clients, being Jenilyn Martinez, Realtor® with Compass, gives me the ability to combine my own local knowledge and strategy with a brokerage that has substantial activity in the Coral Gables market.

So, Is Coral Gables a Buyer's or Seller's Market in 2026?

My answer is:

It depends on what you're buying or selling.

For single-family homes, 4.8 months of inventory suggests a tighter market where properly positioned sellers can still have meaningful leverage.

For condos, 7.7 months of inventory and 108 average days on market indicate more choice for buyers and greater competition among sellers.

Even within those categories, the picture changes dramatically by price, condition, location and—in the case of condos—the building itself.

That's why I don't like giving clients a generic answer that “Coral Gables is a buyer's market” or “Coral Gables is a seller's market.”

The market for your specific property is what matters.

Thinking About Buying or Selling in Coral Gables?

If you're considering selling a home or condo in Coral Gables, the first step shouldn't simply be determining an asking price.

We need to understand which segment of the Coral Gables market you're competing in, what buyers are currently seeing and how your property compares.

And if you're buying, the same principle applies. A market with more inventory doesn't automatically mean every property is a good deal.

I'm Jenilyn Martinez, Realtor® with Compass, and I help buyers and sellers navigate Coral Gables and the surrounding Miami market with a property-specific strategy rather than relying on broad market headlines.

Frequently Asked Questions About Coral Gables Real Estate

Is Coral Gables a buyer's or seller's market in 2026?

It depends on property type. Compass data for the 12 months ending July 30, 2026 showed 4.8 months of inventory for single-family homes versus 7.7 months for condos, giving condo buyers considerably more inventory to choose from.

How much are Coral Gables single-family homes selling for per square foot?

Compass reported an average of approximately $1,237 per square foot for Coral Gables single-family homes during the 12-month period from August 31, 2025 through July 30, 2026.

What is the average price per square foot for a Coral Gables condo?

Compass reported approximately $533 per square foot for Coral Gables condos during that same period. Individual condo values can vary significantly based on location, building, age, condition, views, amenities and financial health of the association.

How long does it take to sell a home in Coral Gables?

According to the Compass data, single-family homes averaged 69 days on market, while condos averaged 108 days during the period analyzed.

Is there a lot of condo inventory in Coral Gables?

There is considerably more condo supply than single-family supply. Compass reported 7.7 months of condo inventory versus 4.8 months for single-family homes. A September 2026 market source also reported condo/townhouse supply at 9.1 months.

Are Coral Gables condo buyers able to negotiate?

Potentially. Longer days on market and higher inventory can create negotiating opportunities, but leverage varies by building and property. Updated units in desirable locations with strong financials can still attract significant buyer interest.

What should I look at before buying a Coral Gables condo?

Don't evaluate only the unit. Review the association's financials, reserves, budget, insurance, assessments, SIRS documentation, maintenance history and planned capital projects as part of your due diligence.

How much of the Coral Gables market does Compass represent?

According to the Compass data provided, Compass represented 178 of 717 closed sales, or approximately 25% of Coral Gables transactions, during the 12-month period ending July 30, 2026.