Dear Grovites,
Coconut Grove’s real estate market entered 2026 with exceptional momentum, marked by the emergence of a new ultra-luxury segment that is redefining the top end of the market. Record-breaking sales highlight the growing presence of trophy properties and a new benchmark for value in our neighborhood. This evolution is being fueled by a wave of high-end developments currently under construction, positioning the Grove as one of Miami’s most desirable enclaves for luxury living.
At the same time, the market continues to be dominated by cash transactions, underscoring strong buyer confidence and the influence of affluent purchasers. From entry-level to ultra-luxury, demand remains deep and resilient, supported by local, national, and international buyers. These trends show a high-performing market that is evolving into a more competitive global destination.
For property owners, this presents a unique window of opportunity. With strong demand, limited inventory, and record pricing at the top, now is an ideal time to position your property for sale and capitalize on current market conditions.
If you are considering a strategic move – whether acquiring or positioning a significant property – we invite you into a more private conversation.
Isabelle Alba
HOME MEDIAN SOLD PRICE JUMPED OVER $1M YEAR OVER YEAR
Q1 2026 SINGLE-FAMILY HOME MARKET FACTS*
• $16,500,000 was the highest sale. This home is located at 3467 N. Moorings Way in South Coconut Grove. It was built in 1929, offers 6,268 Sq. Ft. of living space on a 28,577 Sq. Ft. lot. $2,632 / Sq. Ft. was the sold price. The sale was a cash transaction.
• $300,000 was the lowest sale. The home is located at 3748 Washington Ave. It was built in 1937, offers 862 Sq. Ft. of living space on a 2,625 Sq. Ft. lot. $348 / Sq. Ft. was the sold price. The sale was a cash transaction.
• 7.5% is the average discount between asking price and sold price. It varies hugely depending on the price point.
*Transactions registered in the MLS
A SELLER’S MARKET ACROSS THE BOARD
ANALYSIS
At any price point, market conditions consistently favor sellers in Coconut Grove.
During the first three months of the year, 24 homes were sold, with prices ranging from $300,000 to $3,000,000. As of April 1, 2026, there were 30 homes on the market within this price range— equating to approximately 4 months of inventory and signaling a strong seller’s market.
In the higher price segment, 22 homes sold between $3 million and $10 million during the same period, while 58 properties were available, translating to about 8 months of inventory. This reflects a solid and active market at the upper end, with sustained demand.
3 homes sold above $10 million with 12 properties listed, equating to roughly one year of supply, signaling a more balanced—yet still competitive environment for ultra-luxury estates.
MORE THAN 1/3 OF THE QUARTER’S CONDO SALES VOLUME WAS DRIVEN BY VITA AT GROVE ISLE
Q1 2026 CONDO MARKET FACTS
• $19,800,000 was the highest sale. This 4 bedroom / 5 bathroom / 1 ½ bath condo is in Vita. It was built in 2025, offering 5,885 Sq. Ft. of living space. $3,364 / Sq. Ft. was the sold price. The sale was a cash transaction.
• $239,900 was the lowest sale. The 1 bedroom / 1 bathroom condo is located at 2734 Bird Ave. It was built in 2000, offers 465 Sq. Ft. of living space. $516 / Sq. Ft. was the sold price. The sale was a cash transaction.
• The 2 properties are 1.5 miles apart.
*Transactions registered in the MLS OUR
• Berkshire Hathaway HomeServices EWM Realty Top Producers
• Multi-award-winning real estate agents since 2012
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