Published October 11, 2026 in Market Update

Less inventory is giving Coconut Grove buyers and sellers a tighter market

By Shelia Gasson

Real estate, Coconut Grove

The national picture and the Coconut Grove picture are moving in opposite directions right now. Realtor.com reported that active listings topped 1.16 million homes for sale nationally in September 2026. But the Real Estate Data Aggregator counted only 299 homes for sale in ZIP 33133 during the three months ending August 31, 2026. That's down 20.5% from the same period a year earlier. Fewer choices means buyers compete harder for what's there.

Here's what that tighter supply is doing to prices. The Real Estate Data Aggregator put the median sale price in ZIP 33133 at $1,787,000 for the three months ending August 31, 2026. That's up 13.8% from the same months of 2025. The Federal Housing Finance Agency reported U.S. house prices rose just 2.6% from July 2025 to July 2026. Coconut Grove is running well ahead of that national pace.

More buyers are coming in, but homes are taking longer to sell

Two things are true at once here, and they pull in different directions. The Real Estate Data Aggregator counted 166 homes sold in the three months ending August 31, 2026, up 16.9% from a year earlier. Pending sales rose 9.4% to 152. So buyer activity is up. But the median days on market was 93 days, which is 28 days longer than the same period a year ago. That tells me homes are selling, but buyers are taking more time to decide. Pricing still has to be right.

What sellers need to know about list price and offers

The Real Estate Data Aggregator put the average sale-to-list ratio at 94.2% for the three months ending August 31, 2026. That's down just 0.1 points from a year earlier, so sellers are still getting close to their ask. Only 3.6% of homes sold above list price, down 0.6 points. That's a small share. And only 12.5% of homes went under contract within two weeks of listing. Most homes here need time. Nationally, Realtor.com reported price cuts hit 20.8% of listings in September, the highest since October 2022. Coconut Grove isn't at that level, but pricing carefully still matters.

New listings are also slowing down

The Real Estate Data Aggregator counted 189 new listings in ZIP 33133 during the three months ending August 31, 2026. That's down 3.1% from the same period a year earlier. Fewer sellers are coming to market. That keeps supply tight. Months of supply dropped to 5.5, down 2.6 months from a year ago. For context, six months of supply is generally considered a balanced market. Coconut Grove is just under that line.

Miami-Dade's high-end market is worth knowing about

Coconut Grove sits inside Miami-Dade, and the county's luxury end is moving fast. MAR reported that Miami-Dade home sales of $10 million or more through August 2026 reached 194, already 14.1% above the full-year 2025 total. At the current pace, MAR projects Miami-Dade could finish 2026 with about 291 sales at that price level. That's the top of the market, but it signals strong overall confidence in Miami-Dade real estate.

Mortgage rates are a factor for buyers at every price point. Realtor.com reported that rates climbed above 7% for the first time since January 2025. That adds to monthly costs and can slow decisions. It's part of why days on market are stretching out, even in a supply-tight market like Coconut Grove.

One more thing: the ZIP code number tells part of the story. One street in Coconut Grove can read very differently from the numbers above. A waterfront block, a quiet interior street, a newer build versus an older home. All of that changes what your specific address is worth and how long it takes to sell. I'm happy to look at your street and tell you what I see.