Coral Gables New Construction Homes 2027

Why the best homes and land are trading off-market.

October 25, 2026 · By David Siddons and Daniel Delgado, David Siddons Group

New construction homes in Coral Gables have become the most valuable product in the city. Based on public closed sales of new construction single-family homes since 2016, non-waterfront new construction has risen from a median of $463 per square foot in 2016 to $1,187 in 2026, a 156% increase, or nearly 10% a year. Waterfront new construction now trades at a median of $3,014 per square foot. And 2026 is already the biggest year on record, with $171.8 million in new construction sales through October. Another 148 homes are under construction right now. The best of them, and the land they sit on, rarely reach the MLS.

New construction home in Coral Gables at 1229 Andora Ave, sold by Siddons Group for $7.7M ($1,264 per sq ft) in 53 days

Coral Gables New Construction Sales by Year (2020 to 2026)

Here is every closed sale of a Coral Gables home built in 2020 or later, by the year it sold:

The $5 million new build is now the norm. From 2016 through 2019, Coral Gables averaged about two new construction sales a year at $5 million or more. In 2025 there were 12, and 2026 already has 11. The median new construction sale has stayed above $4.5 million every year since 2022.

In ten years, new construction in Coral Gables has gone from $463 to $1,187 per square foot. Prices held flat from 2016 to 2020, then took off, and every year since 2021 has stayed well above where the market started. A buyer who bought new in 2016 owns a product that now sells for about two and a half times as much per foot.

Buy Early, Win Twice

Buying new construction before it hits the market pays off two ways.

1. First, when you buy. During construction, a developer would rather lock in a qualified buyer than carry a finished home. There is no bidding war, there is room to negotiate on price, and there is often still time to choose your own finishes. Once the home is finished and listed, it is priced at full retail and every buyer can see it.
2. Second, when you sell. You own the newest product in a market that has risen nearly 10% a year. The homes that resold show it:

• 722 Navarre Ave: $2.15M in March 2021, resold for $3.6M in May 2026. Up 67%.
• 3499 Toledo St: $1.73M in July 2021, resold for $2.55M in May 2025. Up 47%.
• 10840 Old Cutler Rd: $17M in July 2024, resold for $21.5M in December 2025. Up 26% in 17 months.
• 9360 Balada St: $16.9M in August 2021, resold for $20.5M in June 2026. Up 21%.

A lower entry price plus market appreciation is the case for buying new construction off market. Please email us at [email protected] or call 305.508.0899 for the off market new construction list.

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The Best Coral Gables New Construction Sells Before It Is Listed

By the time a new Coral Gables home shows up on Zillow, the best ones are already gone. Developers would rather sell early, quietly, to a qualified buyer than carry a finished home and wait for listing photos. Right now there are 148 new construction homes being built in Coral Gables, with prices starting around $4 million and reaching $80 million in the prime gated estates. These homes are not being advertised, and you will not find them on Zillow. We have put together the full list, with the address of every home and the contact for each one, and we can walk you through the details so you don’t have to do this on your own. They are spread across the city. In the heart of the Gables, homes are going up around Granada, the Biltmore and the Riviera. East of US-1, projects are underway in Cocoplum, Sunrise Harbour, Gables Estates, Old Cutler Bay, Snapper Creek Lakes, Banyan Drive, Hammock Lakes and Gables by the Sea, along with the non-gated streets in between.

We track them. For each one we know:

We also know which ones we think are exceptional. Some of those homes will probably never reach the open market.

Buy Six Months Before Delivery and Make It Yours

Buying a spec home off market has a second advantage most buyers don’t know about. Commit six months or more before the delivery date and there is often still time to customize. Depending on where the build is, that can include kitchen and bath finishes, stone and flooring, custom millwork, lighting, closets and some layout changes. You get a home that is already designed, permitted and underway, without living with someone else’s selections. We negotiate those changes with the developer up front so they are written into the contract.

In Coral Gables, It Starts With the Land

The most valuable part of a Coral Gables new build is often not the house. It is the dirt. When a new home sells for $1,187 per square foot and up, every buildable lot in the city carries that potential. Here is what land and teardown lots are trading for in Coral Gables today:

Based on recent Coral Gables land and teardown trades, non-waterfront. Waterfront and gated estate lots trade well above these ranges.At the top of the market, waterfront new construction has climbed from a median of $2,155 per square foot in 2022 and 2023 to $3,014 in 2026. The record is 625 Reinante Ave in Old Cutler Bay, which closed in April 2026 for $47 million, or $5,863 per square foot. The land underneath tells the same story.

Waterfront land in the gated communities is where the numbers get serious. Prime waterfront lots in Coral Gables have gained more than 200% from 2020 to 2026, for the land alone.Here are recent teardown trades, priced on the land:

• The top land sale, 12 Tahiti Beach Island Rd, sits in Tahiti Beach, the private, gated enclave at the end of Cocoplum with its own beach access.
• In Old Cutler Bay, 470 Marquesa Dr never hit the market. It traded quietly two months ago, off market, which is how many of the best lots change hands.
• In Gables Estates, 200 Casuarina Concourse was also an off market sale. The 58,620 SF corner lot traded privately for $25.4 million this year.

To see how far land has come, go back to 2020. That year, 501 Arvida Pkwy in Gables Estates sold as a teardown for $7.25 million, or $178 per square foot on a 40,711 SF lot. The buyer built a custom new construction home. In 2026, Gables Estates land has traded as high as $561 per square foot, more than three times what it sold for in 2020. On that same street, we know of a teardown on an acre that is quietly for sale right now. It is not on the MLS. The best lots to build on rarely hit the market. They trade privately, from owners ready to sell without a listing, estates being settled and builders selling to each other.

Right now we have off market teardowns ready for development in Old Cutler Bay, Gables Estates and Cocoplum, among other prime Gables neighborhoods. None of them are being advertised online and cannot be found Zillow. That kind of access comes from years of relationships. At the David Siddons Group, we know the owners, the builders and the top brokers in these communities, so we hear about land and homes before they are ever offered publicly. It is not information you can search for.

Building From Scratch With the Best in South Florida

For buyers who want a home that starts with their own vision, the first decision is where to buy. We tell you which streets, lot sizes and orientations hold value best, then connect you with the team that turns the lot into the home:

The math is simple. A 10,000 SF lot east of US-1 runs about $2 million to $2.5 million. Building a 5,000 SF home at $550 to $600 per square foot adds roughly $2.75 million to $3 million. That puts you in a brand new Gables home for around $4.75 million to $5.5 million before design and permitting, in a market where finished new construction sells at a median of $1,187 per square foot, or about $5.9 million for the same size home.

These are people we know and trust. We stay involved from land purchase through delivery, so you have one point of contact who understands both the real estate and the build.

What This Means for Coral Gables Buyers

The right move depends on where you are starting from. If speed matters most, the best spec homes are worth chasing while they are still under construction, because by the time they reach the market they are usually gone. Buyers who want new construction with their own finishes should commit at least six months before delivery, while customization is still possible and the details are still negotiable. For those ready to build from scratch, keep in mind that new construction more than doubled in price per square foot since 2020, so securing the right lot off market and pairing it with the right team is what puts you on the strongest part of the curve. And if you already own an older Gables home on a large lot, the numbers may surprise you: a 10,000 SF lot east of US-1 now trades for $2 million to $2.5 million as land alone, which means your lot could be worth more to a builder than your house is to a buyer. It is a number worth knowing before you renovate.

Find Out What Is Being Built in Coral Gables Before Everyone Else

Looking for something brand new, or a lot to build your own? David Siddons and Daniel Delgado, Coral Gables Territory Manager at the David Siddons Group, will walk you through the off market new construction list and the land and teardowns available right now, none of which you will find online.

Want to buy something being built? -> SEND ME THE OFF MARKET NEW CONSTRUCTION LIST
Want to build your own? SEND ME THE OFF MARKET LAND AND TEARDOWNS

📞 (305) 508-0899 | ✉️ [email protected]