Published October 4, 2026 in Market Update

Coconut Grove tightened even as the wider market cooled

By Shelia Gasson

Real estate, Coconut Grove

Here is the one fact that changes what you should do right now. The Real Estate Data Aggregator counted 173 homes sold in Coconut Grove in the three months ending July 31, 2026. That is up 13.8% from the same period a year before. At the same time, MAR reported total Miami-Dade home sales fell 1.1% in August 2026, reaching 1,769 transactions. Coconut Grove moved in the opposite direction from the county. If you are pricing or timing a sale here, the county headline will steer you wrong.

Inventory shrank while buyers kept showing up

The Real Estate Data Aggregator counted 309 homes for sale in ZIP 33133 during that same period. That is down 20.4% from a year before. New listings also fell, down 13% to 188. Fewer choices for buyers usually means more pressure on price. That is exactly what happened here.

Prices rose, but homes still took time to sell

The Real Estate Data Aggregator put the median sale price in Coconut Grove at $1,650,000 for the three months ending July 31, 2026. That is up 13% from the same period a year before. The Federal Housing Finance Agency reported U.S. house prices rose just 2.6% from July 2025 to July 2026. Coconut Grove ran well ahead of that national pace. Still, the median days on market was 75 days, which is 8 days longer than a year ago. Prices moved up, but buyers did not rush. Not every home sold fast.

Sellers got close to list, but not over it

The Real Estate Data Aggregator shows the average sale price came in at 94.7% of list price in Coconut Grove for the three months ending July 31, 2026. That is up 0.9 points from a year before. Only 5.8% of homes sold above list price, though that share rose 2.5 points year over year. And 15% of homes went under contract within two weeks of listing, up 1.8 points. Most homes did not spark a bidding war, but the ones priced well moved quickly.

Pending sales point to more of the same ahead

The Real Estate Data Aggregator counted 167 pending sales in ZIP 33133 for the three months ending July 31, 2026. That is up 9.9% from a year before. Demand has not softened here the way it has in parts of the broader county. The luxury end of the wider market tells a similar story. MAR reported that Miami-Dade home sales of $10 million or more through August 2026 reached 194 transactions, already 14.1% above the full-year 2025 total. At the current pace, MAR projects Miami-Dade will finish 2026 with about 291 such sales. Broward County is moving too: MAR counted 255 homes sold at $1 million or more in Broward in August 2026, up 22.6% year over year, even as Broward's total home sales slipped to 1,899 transactions that month. High-end demand across South Florida has held up even as overall volume eased.

The wider rate picture still matters

Mortgage rates sitting above 7%, as Redfin reported, slow buyers who need financing. That is worth knowing even in a market like Coconut Grove, where many transactions involve cash. Nationally, Redfin also reported that 21% of U.S. home sellers dropped their asking price during the four weeks ending September 20. That has not been the trend here, but it shows what happens when a price misses the mark anywhere.