Coconut Grove remains one of Miami’s most stable and strategically positioned real estate markets. The data reflects a transition from rapid expansion to a more balanced and sustainable phase, defined by selective demand and disciplined pricing.
Buyers are increasingly analytical, prioritizing long-term value, architectural quality, and location over speed. Sellers are adjusting to a market that rewards precision pricing rather than rapid escalation.
Limited land supply, elevated construction costs, and strong demand for waterfront and low-density living continue to support price stability. Inventory growth has introduced balance, while fundamentals remain strong.
Coconut Grove is evolving into a market in refinement, maintaining its competitive advantage: sustained demand in a land-constrained environment.
Single-Family Home Market
Median Sold Price Growth
- Median price increased 58% since 2021
- Current median price: $2,600,000 (Q3 2025)
Key Metrics (Q3 2025)
- Number of homes sold: 37
- Total sales volume: $128M
- Median price per sq ft: $957
- Cash transactions: 60%
- Homes for sale (Sept): 94
Market Insight
- ~5% average discount between asking and sold price
- High-end properties continue to dominate pricing trends
- Strong demand for updated and waterfront homes
Luxury Market ($3M–$10M)
Key Insight
Properties in this range represent over 1/3 of all transactions
Market Conditions by Segment
- Lower luxury tiers: seller’s market (limited inventory)
- Mid-range luxury: balanced
- Upper luxury tiers: buyer’s market (higher inventory)
$10M+ Property Characteristics
Luxury properties priced above $10M typically include:
- Large lots (~22,000 sq ft median)
- Waterfront locations with premium views and privacy
- New construction (5,000+ sq ft living space)
- Modern architecture and high-end finishes
Condo Market
Record Pricing
The resale condo market has reached an all-time high median price
Key Metrics (Q3 2025)
- Condos sold: 38
- Total volume: $65M
- Median price: $1,570,000
- Median price per sq ft: $884
- Cash transactions: 76%
- Inventory: 147 units
Market Insight
New developments (Arbor, Mr. C, Vita) are increasing inventory and shaping pricing dynamics.
Notable Sales (Q3 2025)
Single-Family Homes
- $4.59M – 3580 S. Moorings Way
- 14,193 sq ft lot, 3,120 sq ft living
- Sold at $1,028/sq ft
- $810K – 3794 Florida Ave
- Lowest sale, 4,500 sq ft lot
- $629/sq ft, cash transaction
Condos
- $9.9M – Park Grove
- 4 bed, 4.5 bath, 3,233 sq ft
- $2,134/sq ft
- $278K – 3245 Virginia St
- 1 bed, 514 sq ft
Expert Insight
Coconut Grove continues to demonstrate:
- Strong long-term value
- High demand for lifestyle-driven properties
- Stability despite broader market shifts
About Grove Experts
Alba Biondi & Isabelle Andrews
Berkshire Hathaway HomeServices EWM Realty
- Over $400M in sales
- Coconut Grove & Coral Gables specialists
- Multilingual: English, Spanish, French, Italian