Published October 18, 2026 in Market Update

Coconut Grove sales rose even as inventory fell

By Elizabeth Costa

Real estate, Coconut Grove

Buyers are still showing up in Coconut Grove, even with fewer homes to choose from. The Real Estate Data Aggregator counted 315 sales across the Grove in the three months ending August 31, 2026. That is up 13.3% from the same three months in 2025. At the same time, homes for sale fell 18.4%, to 555 total. More sales, less supply. That combination shapes what sellers can expect and what buyers need to plan for.

Pending sales tell the same story. The Real Estate Data Aggregator recorded 319 pending sales across the Grove in this period, up 14.3% year over year. Demand has not slowed. New listings edged up just 1.9%, to 383. That small rise in new supply is not keeping pace with buyer activity.

What each ZIP code is doing

The Grove covers three ZIP codes, and they are not moving in lockstep. Here is what the Real Estate Data Aggregator found for each one in the three months ending August 31, 2026.

ZIP 33133: the highest prices, and buyers still coming

The Real Estate Data Aggregator put the median sale price in 33133 at $1,787,000 for the three months ending August 31, 2026. That is up 13.8% from a year before. Sales rose 16.9%, to 166 homes. Homes for sale dropped 20.5%. The median home took 93 days to sell, which is 28 days longer than the same period in 2025. Sellers here are getting more money, but they are waiting longer for it. Pricing carefully from the start matters more than it did a year ago.

ZIP 33134: the fastest-moving pocket right now

ZIP 33134 had the sharpest jump in pending sales of any Grove ZIP. The Real Estate Data Aggregator counted 134 pending sales, up 34% year over year. Sales rose 18.6%, to 121 homes. The median price hit $935,000, up 13.7%. Nearly 16 in 100 homes went under contract within two weeks of listing, up 4.7 points from 2025. That is the strongest two-week contract rate in the Grove. Months of supply fell to 4.9, the lowest of the three ZIPs.

ZIP 33146: fewer sales, but the homes that did sell moved fast

ZIP 33146 is the smallest of the three by volume. The Real Estate Data Aggregator counted 28 sales, down 17.6% from 2025. The median price is listed at $1,090,000, down 38.3% year over year. That drop reflects a change in the mix of homes that sold, not a broad fall in what individual properties are worth. What stands out here is speed. The median home sold in 63 days, 21 days faster than last year. Nearly 18 in 100 homes sold above list price, up 17.9 points. The sale-to-list ratio reached 97%, up 3.8 points. Homes that are priced right in 33146 are closing quickly.

The broader backdrop

Miami Realtors reported 24 single-family and condominium sales of $30 million or more in Miami-Dade through September 2026. That signals continued demand at the top of the market. Miami Realtors also noted that condo sales near the $300,000 to $400,000 price point saw 14.5% year-over-year sales growth in September 2026. That is a different segment from most of the Grove, but it shows broad buyer activity across Miami-Dade. Nationally, the Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. The Grove's price gains are running well ahead of that pace.

One headwind worth naming: mortgage rates. Realtor.com reported rates climbed above 7% for the first time since January 2025, as of September 30, 2026. Higher rates raise monthly costs for financed buyers. Grove buyers working with financing need a clear budget before they write an offer. Check with your lender on current rates before you lock in a price.