Published October 7, 2026 in Market Update

Most Coral Gables buyers skipped the mortgage entirely

By Elizabeth Costa

Real estate, CG Oct 1

People assume most buyers need a mortgage. In Coral Gables, that is just not true anymore. I pulled every listing through September 23, 2026, and here is what the numbers actually say.

More than 6 in 10 buyers in Coral Gables paid cash, and they moved faster because of it

52 of the 83 sales where we know how the buyer paid were all cash. That is 62.7%. Nationally, about a quarter of buyers paid cash in June 2026, according to the NAR Realtors Confidence Index Survey. Coral Gables ran well above that national figure.

The speed difference is real. The typical cash buyer closed in 50 days. The typical buyer using a loan took 80 days. That is a full month longer. Cash does not just mean no bank. It means a faster close, less paperwork, and fewer ways for a deal to fall apart.

The price gap matters too. The typical cash sale closed at $2,047,500. The typical financed sale closed at $1,460,000. Those are two different buyer pools chasing two different kinds of homes. A seller pricing at $2M or above is almost certainly selling to someone with cash in hand.

Does paying cash get you a better deal?

Not by much. Cash buyers closed at 91% of what the home first asked. Buyers using a loan closed at 90.3%. The gap is less than one percentage point. Cash buyers did not squeeze sellers harder on price. They just moved faster.

Where cash buyers did better was on the final asking price. Financed buyers actually closed slightly closer to the last listed price: 95% versus 93.9% for cash. That tells you something. Sellers often drop their price before a financed deal closes. Cash buyers may be buying before a price cut happens.

What this means for you right now

If you are selling, your buyer is more likely to be paying cash than not. That is an advantage if you use it. A cash offer with a fast close is worth something, even if the number is a little lower. The typical Coral Gables home sold at 90.6% of what it first asked. If you price high hoping to come down, you are playing a game most sellers here lose. 708 homes gave up without a sale. Only 73 sold.

If you are buying with a loan, you are in the minority here, and that is fine. The 30-year fixed rate averaged 7.03% as of September 24, 2026, up from 6.30% a year ago (Freddie Mac). That is a real cost. But financed buyers in Coral Gables still closed at 90.3% of the original asking price, nearly the same as cash buyers. You are not at a huge disadvantage on price. You are at a disadvantage on speed. Come in clean, with a short inspection window and a lender who can move fast.