2025 Coconut Grove Housing Market Report: A Midyear Market Breakdown by Price Range

Coconut Grove remains one of Miami’s most coveted neighborhoods, known for its walkable streets, lush greenery, top-rated schools, vibrant restaurant scene, and a tight-knit, family-friendly vibe. It’s no wonder that demand remains strong from both out-of-state buyers and Miami locals alike. But what does that mean for buyers and sellers at different price points? In this article, we break down the Coconut Grove market by price range—$1M–$3M, $3M–$6M, and $6M+—so you can better understand how the market is performing and what to expect whether you’re buying or selling.

Click here for the Coconut Grove Condo Market Report

The Coconut Grove Housing Market | Jan-May 2024 vs Jan – May 2025

The $1M–$3M Market in Coconut Grove: Entry-Level, High-Demand, Low Supply

The $1M–$3M segment marks the entry point for single-family homes in Coconut Grove and remains one of the most active and competitive price brackets. Sales in this range have increased, reflecting steady demand from both local and out-of-state buyers drawn to the neighborhood’s lifestyle, schools, walkability, and overall character. Despite broader softening in parts of Florida, Coconut Grove is holding firm, especially in this lower price tier.

Trends & Performance:  Homes in the $1M–$3M range are moving well, with months of inventory sitting below five—an indicator of a strong seller’s market. Average prices have held mostly steady year over year, with most homes trading around $1,000 per square foot. Properties that are well presented and realistically priced continue to move within 60 days or less, showing that this segment is both resilient and fast-paced.

Market Dynamics: Supply remains a challenge. This is largely because homeowners in Coconut Grove don’t want to leave, and there’s limited space for new development. That scarcity, especially for quality inventory under $3M, puts upward pressure on demand. It’s also worth noting that some homes initially listed above $3M end up adjusting into this bracket, especially if they’re mispriced or in need of updates. Buyers in this range are value-conscious—they’re willing to act, but only if a property feels priced right.

Risks & Considerations: The main risk for sellers is overpricing. Today’s buyers are well-informed and won’t engage unless the property reflects fair market value. While prices in this bracket aren’t falling, sellers may need to show some flexibility on terms or timelines. Homes requiring major renovation tend to face more resistance unless listed with the cost of work clearly reflected in the price.

Advice for Sellers: Sellers in this price range are still in a strong position—but they shouldn’t take it for granted. Presentation is key. Landscaping, staging, and a clean, neutral aesthetic go a long way. Most importantly, price the home realistically from day one. Overreaching typically leads to longer time on market and eventual reductions that can hurt momentum.

Advice for Buyers Buyers finally have more choices than they’ve had in recent years, but the best homes in this range still move quickly. A finished home in a great location can easily sell at or above asking price. If a property checks your boxes and falls within budget, it’s worth moving fast. On the other hand, if something’s been sitting for four months or more, there may be an opportunity to negotiate more aggressively.

The $3M–$6M Market in Coconut Grove: Transition Zone with Growing Inventory

The $3M–$6M price range represents the transitional mid-tier of Coconut Grove’s housing market, where buyer expectations increase and inventory begins to open up. While this bracket used to see stronger momentum, sales have recently declined. Much of this softening stems from mispricing, with some homes in this tier better suited to the sub-$3M range based on condition, layout, or location.

Trends & Performance: This price segment still holds solid demand, but buyers are more cautious. Homes in the $3M–$6M range are now taking slightly less time to sell year over year, with median days on market improving marginally from 45 to 52 days. Despite this, the increased inventory means buyers have more to choose from—and are taking their time. This has led to growing gaps between seller expectations and what the market will bear.

Market Dynamics  Inventory levels have loosened, pushing this price range toward more balanced conditions. Many of the listings in this bracket sit for extended periods due to unrealistic pricing, with some homes initially listed above $6M eventually finding their way into the $3M–$6M band after price adjustments. The average price per square foot remains near $1,000, but only well-finished homes or those in prime locations justify more. If a property is exceptional—updated, turnkey, and well located—it can still move quickly, even in a more selective market.

Risks & Considerations The greatest risk in this range is overpricing. Sellers are sometimes influenced by peak-market expectations or nearby sales from earlier cycles, but buyers today are more analytical and unwilling to overpay unless the product truly warrants it. Homes that need work or lack standout features tend to linger unless priced accordingly. That said, a beautiful home that’s priced right can still sell swiftly and close to asking.

Advice for Sellers Sellers in the $3M–$6M range need to be especially strategic. Pricing is everything—go too high, and you risk joining the long list of stale listings. Presentation also matters more at this level; buyers expect quality, detail, and emotional appeal. Staging, fresh landscaping, and subtle improvements can help bridge the gap between showing and selling. Ultimately, your agent should help you price to sell, not just to test the market.

Advice for Buyers: This is a great range for buyers who want more space or premium finishes but don’t want to stretch into the ultra-luxury tier. There’s more selection now than in recent years, and that means more room to negotiate—particularly on homes that have been sitting for a while. Don’t hesitate to make a below-ask offer on a lingering listing, but understand that top-tier properties in this bracket can still command strong interest. If it’s a rare find, be ready to move quickly.

The $6M–$10M Market in Coconut Grove: Slower Pace, Selective Buyers

The $6M–$10M tier represents the upper echelon of Coconut Grove real estate, where buyers expect not just luxury, but uniqueness. Sales activity in this range has slowed, with longer time on market and greater selectivity from buyers. While the market remains healthy overall, it’s much more sensitive to overpricing or homes that don’t check every box.

Trends & Performance: Homes in this price range are spending less time on the market than they were last year—median days on market dropped significantly from 100 to 55  days. This might suggest momentum, but it’s primarily reserved for homes that truly stand out. Those that are not fully turnkey, lack character, or have layout challenges are seeing little interest and can linger.

Market Dynamics: This segment is in a more balanced state, with about 12 months of inventory. That leans toward a buyer’s market, where purchasers have time to evaluate options and negotiate. Demand exists, but it’s patient and highly discerning. At this level, buyers are looking for standout architecture, privacy, top finishes, and a move-in-ready experience. Price per square foot can exceed $1,500 for a special home, but only if it’s flawless in design, execution, and location.

Risks & Considerations: The main challenge in this tier is justifying the price. With more luxury new construction coming online across Miami, homes in this range that lack updated interiors, a wow factor, or top-tier finishes will be judged harshly. Buyers are comparing across neighborhoods, and even newer offerings elsewhere can lure attention away from Grove homes that don’t offer something unique.

Advice for Sellers: If you’re selling in this range, the property needs to feel worth the premium. Make sure it’s immaculately presented, professionally staged, and positioned with the right story. Pricing needs to be sharp—even more so than in lower tiers. There’s little appetite for aspirational pricing here. If your home isn’t getting attention within the first few weeks, it’s a sign you may need to adjust quickly.

Advice for Buyers: This is a good time to be shopping in the $6M–$10M tier. There’s more inventory, sellers are more negotiable, and you’ll have time to make a decision. However, truly special homes—those with character, privacy, and quality—still move fast. Don’t wait too long if you find something rare. But if a home has been sitting for months, you may have significant leverage on both price and terms.

Final Thoughts: Coconut Grove’s Resilience and Long-Term Strength

The 2025 Coconut Grove Housing Market remains one of Miami’s most resilient and desirable residential markets. Despite broader softening across South Florida, the Grove continues to show strength, especially in the $1M–$6M range where the majority of transactions occur. Demand remains steady thanks to the neighborhood’s walkability, top-rated schools, lush surroundings, and strong community feel.

Inventory remains tight in the lower price tiers, supporting a seller’s market, while the mid and upper tiers are experiencing more balance or leaning toward buyer-friendliness. Well-priced, well-presented homes still command attention and move quickly, especially if they are finished and turnkey. However, aspirational pricing, especially in the $3M+ range, leads to stagnation.

Long term, Coconut Grove is positioned for sustained value growth. As more families and high-net-worth individuals relocate to Miami, the neighborhood’s limited land, historic charm, and lifestyle appeal will continue to drive demand. For both buyers and sellers, understanding pricing, quality, and presentation is key—but the Grove remains a smart bet for those looking for lifestyle and long-term equity.

Connect With The David Siddons Group

In case you have questions regarding this 2025 Coconut Grove Housing Market Report or about the overall Coconut Grove real estate market please do not hesitate to contact the David Siddons Group at 305.508.0899 or to schedule a meeting via the application below.