Coral Gables Detached — No HOPA (No 55+): August 2026 Market Update
Coral Gables is a market where the numbers require context.
The latest data for detached residential properties with no HOPA (no 55+) restriction shows increased sales activity and shorter marketing times. At the same time, available inventory and months of housing supply have increased, while median list prices have declined. Median sale prices have moved considerably in the opposite direction.
That combination makes this a difficult market to characterize from broad statistics alone. Coral Gables contains a wide variety of detached homes at substantially different price points, and changes in the mix of properties selling can have a considerable effect on median prices.
For buyers and sellers, the individual property becomes especially important.
Appraiser’s Perspective (RD8755)
Thomas J. Dunphy III, State-Certified Residential Real Estate Appraiser RD8755
The total number of settled sales increased during the current six months when compared with the prior 7–12 months. There were 122 settled sales during the prior 7–12 months compared with 139 during the current six months, consisting of 76 sales during the prior 4–6 months and 63 during the current three months. That represents an increase of 17 settled sales.
The absorption rate was 20.33 sales per month during the prior 7–12 months, increased to 25.33 sales per month during the prior 4–6 months, and is currently 21.00 sales per month. The current rate has moderated from the prior 4–6 month period but remains above the prior 7–12 month period.
Inventory has moved in another direction. Active listings increased from 88 to 92 and currently 102 properties. Months of housing supply was 4.33 months during the prior 7–12 months, declined to 3.63 months during the prior 4–6 months, and has now increased to 4.86 months, the largest level among the three periods analyzed.
Marketing time, however, has shortened. Median comparable sales days on market moved from 78 days to 60 days and currently 42 days.
Taken together, the transaction data indicates an active market with mixed indicators.
The Median Price Numbers Require Context
This is where Coral Gables becomes particularly interesting from an appraisal perspective.
Median comparable sale prices increased from $1,895,000 during the prior 7–12 months to $2,353,750 during the prior 4–6 months and $2,800,000 during the current three months.
Median comparable list prices, however, moved in the opposite direction. They declined from $3,450,000 to $3,292,500 and currently $2,632,500.
At first glance, the movement in median sale prices could suggest substantial price appreciation. I would be cautious about reaching that conclusion from these numbers alone.
Coral Gables contains detached homes with substantial differences in size, quality, condition, renovations, site characteristics, location and overall price point. The Sales Price Trend analysis illustrates just how widely individual sale prices are dispersed within this market.
If more expensive or larger properties happen to comprise a greater portion of the transactions during one three-month period, the median sale price can increase without indicating that every property—or even a typical individual property—experienced a comparable increase in value.
The reverse can also occur.
For that reason, the broad Coral Gables statistics provide useful information about market activity, inventory and supply, but additional property-specific analysis would be necessary before reaching a conclusion regarding the market value or value trend of an individual home.
Exposure Time
The current data reports a median sales marketing time of approximately 42 days, compared with 60 days during the prior 4–6 months and 78 days during the prior 7–12 months.
Based upon the range of properties represented within this market, a typical exposure period may be approximately 0–90 days, while certain upper-tier properties may require approximately 3–6 months.
That is another reason I would not treat Coral Gables as one uniform market. The appropriate exposure period can depend considerably upon the individual property and its particular competitive market.
Tom the Realtor’s Perspective
For a buyer, I would first narrow the search to the property you are actually looking for.
Location matters. Size matters. Condition and renovations matter. Site characteristics matter. The particular portion of Coral Gables matters. At these price points, individual property characteristics can make a substantial difference.
Once the right property comes on the market, that's when my analysis becomes much more specific.
I would identify the sales and competing listings that are actually comparable to that property, analyze the relevant differences, and develop a property-specific CMA. From there, we can determine an offer strategy based upon what buyers have actually been paying for competing properties rather than relying upon the overall Coral Gables median.
The market is active, and properties are selling. That means when the right property appears, a buyer needs to be prepared to act. But acting quickly does not mean skipping the valuation work.
Find the property first. Analyze it. Then develop the offer.
For Coral Gables Sellers, Pricing Is Critical
I would take essentially the same property-specific approach with a seller.
With the range of homes and prices represented in this data, a broad Coral Gables CMA by itself would not be enough for me to establish a listing-price strategy.
The property needs to be analyzed individually.
I would want to know which recently sold properties actually compete with the home, what adjustments or considerations are appropriate for their differences, what is currently listed against it, and where the subject fits within that competitive range.
In a market like this, the question isn't simply:
“What is the median home price in Coral Gables?”
The more useful question is:
“What are buyers currently paying for properties that actually compete with this home?”
That distinction can be critical when establishing a listing price.
What This Means for Buyers and Sellers
The August 2026 data indicates that the Coral Gables detached, No HOPA (No 55+) market remains active, but with mixed indicators.
Settled sales increased by 17 transactions when comparing the current six months with the prior 7–12 months. The current absorption rate remains above the prior 7–12 month period, and median sales marketing time has shortened to 42 days. At the same time, active inventory has increased to 102 properties, months of housing supply has reached 4.86 months, and median list prices have declined.
Meanwhile, the substantial movement in median sale prices needs to be interpreted within the context of Coral Gables' diverse housing stock.
For buyers, that means identifying the right property and then analyzing its specific competitive market before determining an offer.
For sellers, it means developing a listing strategy around the individual property rather than relying upon an overall citywide median.
In this market, the details of the property matter.
Appraisal Certification
Thomas J. Dunphy III
State-Certified Residential Real Estate Appraiser RD8755
The market analysis presented above reflects my interpretation of the market data provided through the Martin County Realtors of the Treasure Coast MLS with an effective date of August 31, 2026. The underlying market report indicates no concessions and no foreclosure or short-sale activity during the period reported.
Real Estate Sales
Tom Dunphy Realtor (Fulton Grace Realty)
Licensed Florida Real Estate Sales Associate
THE APPRAISER’S EDGE. THE RELOCATOR’S INSIGHT.
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Disclosure
This article is provided for general real estate market information and educational purposes. The market statistics discussed represent a broad segment of detached residential properties in Coral Gables and should not be interpreted as an appraisal, opinion of value, or representation of the value of any specific property. Individual properties can vary substantially in location, size, site characteristics, quality, condition, renovations, amenities and other factors that may influence market value.
Any CMA or real estate analysis prepared in connection with brokerage services is provided in Tom Dunphy's capacity as a licensed Florida real estate sales associate and is not an appraisal. An appraisal assignment performed in the capacity of a State-Certified Residential Real Estate Appraiser is a separate professional service subject to the applicable appraisal standards and assignment requirements.