What Coral Gables actually costs
Asking prices are opinions. This is what buyers actually paid — every qualified, arm’s-length sale on the county record, in the Coral Gables buildings we track.
2026 to date−2.0%vs 2025 peak
474 homes across 4 condominium declarations on the county record. Median of qualified, arm’s-length sales, straight from the roll — not a portal’s estimate, and not the whole neighbourhood: these are the buildings we track.
Did owners make money · 241 resales on the record
Cassia Residences at dusk in Coral Gables — developer rendering
Cassia Residences on Salzedo Street — developer rendering
Cassia Residences seen from the street — developer rendering
The arrival plaza at Cassia Residences — developer rendering
The entrance to Cassia Residences — developer rendering
The facade of Cassia Residences — developer rendering
The pool at Cassia Residences — developer rendering
Every building we track in Coral Gables Condos and Homes
4 condominiums we track in Coral Gables Condos and Homes, from the county roll. 4 of them have a building page.
Aerial view of Journeys End in Coral Gables Condos and, Miami
Aerial view of Merrick Park Shops in Coral Gables Condos and, Miami
Aerial view of Trolley in Coral Gables Condos and, Miami
Aerial view of Venetian Pool in Coral Gables Condos and, Miami
Aerial view of Coral Gables Condos and, Miami
Aerial view of Coral Gables Condos and, Miami
Aerial view of Coral Gables Condos and, Miami
Aerial view of Coral Gables Condos and, Miami
Aerial view of Coral Gables Condos and, Miami
Aerial view of Coral Gables Condos and, Miami
Aerial view of Coral Gables Condos and, Miami
Aerial view of Biltmore Hotel in Coral Gables Condos and, Miami
Aerial view of Biltmore Hotel in Coral Gables Condos and, Miami
Aerial view of Merrick Park Shops in Coral Gables Condos and, Miami
The number that actually matters here. Every sale Miami-Dade County has recorded in 4 declarations and 474 homes — what buyers paid, not what sellers ask.
The county record
What Coral Gables actually costs
4 condominium declarations. 474 homes. Every sale Miami-Dade County has recorded in them.
Everyone else shows you what sellers are asking. This shows you what buyers paid.
2026 to date -2.0% vs 2025 peak
Did owners make money?
241 Coral Gables homes have been bought and sold again on the arm’s-length record. This is how they did.
Gross figures — the difference between two recorded prices, before commissions, taxes, assessments and carrying costs. Foreclosures and deeds in lieu are excluded: both legs must be qualified arm’s-length sales.
Every building, by price per square foot
Ranked on 2026 sales. Tap any building for its full record — the four-year table, the resale outcomes, and what the county holds.
Method. Every condominium declaration in Coral Gables retrieved folio by folio from the Miami-Dade County Property Appraiser and filtered to residential homes, excluding commercial, parking, cabana and storage. Each declaration is checked against its common-element shares, which by law sum to 100%, to confirm no part of a building is missing. Bulk and portfolio transfers are excluded outright. These are closed sales, not active listings, and 2026 is an incomplete year.
- Six months of supply citywide — textbook balanced. 585 closed sales over the trailing twelve months, 309 active listings and 53 under contract as of Q1 2026. Neither side holds the whip hand.
- That citywide number hides a threefold spread. Non-waterfront resale east of US-1 runs about $1,050 per square foot. Gables Estates and Old Cutler Bay run about $3,100. Same city, same quarter.
- Water is the whole variable. Non-waterfront new construction is around $1,200; Cocoplum waterfront around $1,650; the top enclaves nearly double that again.
- At the top, financing is irrelevant. 83% of waterfront sales were cash — 64 of 77. Between $13 million and $50 million-plus, it was 100%: all 14 sales, cash.
- The market is paying for accurate comps, not aspirational pricing. Balanced supply plus a cash-dominant top end means mispriced listings simply sit.
6.0 months of supply | $1,050 per sq ft, non-waterfront | $3,100 per sq ft, Gables Estates | 83% of waterfront sales, cash |
The number that actually matters here
Coral Gables reports as one market and behaves as several. The citywide figure — 6.0 months of supply, sitting exactly on the line between a buyer's and a seller's market — is accurate and close to useless on its own.
Here is the Q1 2026 spread by segment:
- East of US-1, non-waterfront resale — about $1,050 per square foot. The classic Gables: mature canopy, strict architectural review, walkable to Miracle Mile.
- New construction, non-waterfront — about $1,200. The premium for new build on a Gables lot is roughly 14%, which is modest by Miami standards and tells you buyers here value the address more than the vintage.
- Cocoplum waterfront — about $1,650. Gated, canal-front, and the entry point into the Gables waterfront market.
- Gables Estates and Old Cutler Bay — about $3,100. The top of the market, and roughly three times the non-waterfront resale figure.
If you take one thing from this page: ask which segment a number belongs to before you use it. A comp from east of US-1 tells you almost nothing about a Cocoplum canal lot, and a Gables Estates comp tells you nothing about either.
The waterfront enclaves, ranked by what they actually trade at
The Gables waterfront is not one market either. Q1 2026 price per square foot by enclave:
That is a 2.4x spread across enclaves that sit within a few miles of each other, all gated, all on water. What separates them is not prestige in the abstract — it is depth, access and how many turns it takes to reach open bay. Bridge height and channel depth decide more of this pricing than lot size does, which is why the Miami waterfront homes guide is worth reading alongside this page.
Cash, and what it does to your offer
This is where Coral Gables differs most sharply from the rest of Miami-Dade, and where buyers most often misjudge the room.
83% of Gables waterfront sales closed in cash — 64 of 77. Above $13 million, it was every single one: all 14 sales in the $13 million to $50 million-plus band, cash.
Across Miami-Dade as a whole, cash accounts for about 44% of closings, itself well above the national average of roughly 27%. On the Gables waterfront it is nearly double the county figure.
What that means practically:
- A financing contingency is a real disadvantage here, not a formality. If you are borrowing, you are competing against buyers with no lender, no appraisal and no timeline risk.
- Compete on certainty rather than price. A shorter inspection period, a larger deposit, flexibility on the closing date, and a lender who will speak to the listing agent directly are worth more than an extra 2% on the number.
- Appraisal risk is genuine at the top. When the last fourteen comparable sales were all cash, there may be very little conventional appraisal history to lean on.
Why mispriced listings sit
The Q1 2026 read on this market was blunt: it is paying for accuracy on comps, not for aspirational pricing.
Balanced supply and a cash-heavy buyer pool produce a specific behaviour. Cash buyers at this level are not emotional and are not in a hurry. Put a house on at a number the comps do not support and it does not attract a low offer — it attracts nothing, and then it needs two reductions to recover the momentum it lost in the first sixty days.
For a seller, that argues for pricing to the enclave rather than to the city. For a buyer, it argues for taking a hard look at anything that has been sitting: in a balanced market, extended days on market is information, not opportunity, until you have found out which of the two it is.
The parts of Coral Gables
- The historic core, east of US-1 — Merrick's original city. Mediterranean revival, mature canopy, strict architectural review, walkable to Miracle Mile. About $1,050 per square foot on resale.
- The gated waterfront enclaves — Gables Estates, Old Cutler Bay, Cocoplum, Snapper Creek, Tahiti Beach, Hammock Lakes, Gables by the Sea and Sunrise Harbour. Membership rules and approval processes vary and are not a formality in several of them.
- Deering Bay — golf and marina, gated, at the southern edge.
- Journey's End, Hughes Cove and Keystone Estates — smaller pockets that trade rarely enough that comparables are genuinely scarce.
If the canopy and architecture appeal but you want something looser and more bohemian, Coconut Grove is the natural comparison — and it is currently behaving very differently, with land up 50.5% in three years. For an island version of the same idea, Key Biscayne.
Coral Gables condominium buildings
The Gables is a house market with a small, high-quality condominium layer along the commercial corridors.
- 719 Biltmore Way New
719 Biltmore Way, Coral Gables, Florida 33134 - Gables Club Tower I
GABLES CLUB TOWER 1 MIAMI CONDOS 10 Edgewater Drive, Coral Gables, Florida 33133 - Gables Club Tower II
Condos GABLES CLUB TOWER 2 MIAMI CONDOS 60 Edgewater Drive, Coral Gables, Florida 33133 - Gables on the Green
Coral Way, Coral Gables, Florida 33134 - Merrick Manor
Altara Avenue, Coral Gables, Florida 33146 - The Avenue Coral Gables New
351 San Lorenzo Avenue, Coral Gables, Florida 33146
What to check before you buy in Coral Gables
- The Board of Architects. Coral Gables reviews exterior design, and it is not a rubber stamp. If your plan involves changing elevations, roofing, colour or footprint, understand the process before you buy — it affects both timeline and cost.
- The enclave's own approval process. Several of the gated waterfront communities have membership or purchase approval requirements that go well beyond an HOA application. Ask early.
- Dockage specifics, not dockage in the abstract. Bridge clearance, channel depth at low tide, canal width and how many turns to open bay. These explain the 2.4x spread between enclaves better than anything else does.
- Tree ordinances and the canopy. Mature trees are protected. Confirm what can be removed before you price a renovation that assumes they can.
- Which comp set you are being shown. A listing agent quoting non-waterfront resale comps on a canal-front house, or Gables Estates comps on a Cocoplum lot, is not necessarily being dishonest — but the numbers are three times apart, and it is your job to notice.
Who Coral Gables suits
It suits a buyer who wants permanence: architectural control, mature canopy, consistent resale, and a city that has looked broadly the same for ninety years and intends to keep doing so. That predictability is the product.
It suits boaters, at every level from a Cocoplum canal to a Gables Estates deep-water lot — with the caveat that what you can actually keep at the dock varies enormously between enclaves.
It does not suit a buyer looking for a discount. Six months of supply with a cash-dominant top end is not a market handing anyone leverage. If leverage is what you want, the condo markets in Edgewater and Coconut Grove are where it currently sits.
How I would approach it
In Coral Gables the single highest-value decision is made before you look at a house: which segment you are buying in. The gap between $1,050 and $3,100 per square foot is not a quality gradient — it is four or five distinct markets that happen to share a city name, a tax roll and a Board of Architects.
Get that right and the rest is straightforward. Get it wrong and you will either overpay for the wrong enclave or spend a year making offers that were never in the range.
I have been selling Miami real estate since 2002 and have closed more than a billion dollars in property. Tell me your budget and whether you need a dock, and I will tell you plainly which two or three of these enclaves you are actually shopping in.
Get in touch, or read more about how I work. The Miami neighbourhoods map covers the alternatives.
Coral Gables real estate: frequently asked questions
How much does a home cost in Coral Gables?
It depends entirely on segment. In Q1 2026, non-waterfront resale east of US-1 ran about $1,050 per square foot and non-waterfront new construction about $1,200. Waterfront started around $1,650 in Cocoplum and reached about $3,100 in Gables Estates and Old Cutler Bay. That is roughly a threefold spread inside one city, so establish which segment a quoted number belongs to before you use it.
Is Coral Gables a buyer's market or a seller's market?
Neither. Months of supply was 6.0 citywide in Q1 2026 — the conventional dividing line — on 585 closed sales over the trailing twelve months, 309 active listings and 53 under contract. It is genuinely balanced, which means well-priced homes move and mispriced ones sit.
Which Coral Gables waterfront community is most expensive?
Gables Estates, at about $3,100 per square foot in Q1 2026, with Old Cutler Bay just behind at $2,800. The full order: Sunrise Harbour $1,300, Gables by the Sea $1,400, Hammock Lakes $1,500, Cocoplum $1,650, Tahiti Beach $1,800, Snapper Creek $2,000, Old Cutler Bay $2,800, Gables Estates $3,100. That is a 2.4x spread across enclaves a few miles apart, driven largely by dockage — channel depth, bridge clearance and how directly you reach open bay.
Do I need cash to buy in Coral Gables?
On the waterfront, effectively yes at the top. 83% of Gables waterfront sales closed in cash — 64 of 77 — and between $13 million and $50 million-plus it was 100%, all 14 sales. If you are financing, compete on certainty rather than price: a shorter inspection period, a larger deposit, flexible closing, and a lender who will speak to the listing agent directly. Be aware that appraisal history can be thin when the recent comparable sales were all cash.
Why do some Coral Gables homes sit on the market for months?
Because the market is paying for accuracy on comps rather than aspirational pricing. Balanced supply plus a cash-heavy buyer pool means an overpriced listing does not attract low offers — it attracts nothing, then needs repeated reductions to recover the momentum lost in the first sixty days. For a buyer, long days on market is information worth investigating, not automatically an opportunity.
What is the Coral Gables Board of Architects?
It is the city's design review body, and it is not a formality. Coral Gables reviews exterior design — elevations, roofing, colour, footprint — and that affects both the timeline and the cost of any renovation or new build. Several of the gated waterfront enclaves additionally have their own membership or purchase-approval processes that go well beyond a standard HOA application. Confirm both before you write an offer.
Related coverage
Part of Miami Neighborhoods.