Coral Gables · Homes & Townhomes · 2026
Coral Gables
Homes, Townhomes & Condos
Historic Homes · Townhomes · Condos · $824K to $8M+
70%+
Of All CG Transactions
$918/SF
Central CG Avg
$1,292/SF
New Const TH Avg
$2.3M
Avg Sale Central CG
In This Guide
Section 01
Why Coral Gables Homes
Outperform Every Other Miami Market
Most buyers who research Coral Gables focus immediately on the gated communities. That instinct is understandable. But the gated communities represent less than 30% of Coral Gables transactions. The majority of the market — the historic Mediterranean Revival homes, the luxury townhomes, the condos and walkable neighborhoods around Miracle Mile — is where most buyers find the most compelling value.
The Largest Buyer Pool
More than 70% of Coral Gables transactions happen in historic neighborhoods. When you sell, your buyer pool is significantly deeper than in any gated community where fewer than 5 homes trade per year.
Walkability No Other Miami Neighborhood Offers
Coral Gables is the only part of Miami where you can walk to a Michelin-recognized restaurant, a Nordstrom, your corporate office, and a Top 10 North American private school — without getting in a car.
The Architecture Premium Is Documented
Original Merrick-era homes built between 1920 and 1960 consistently achieve higher prices per square foot than homes built between 1960 and 2000. The premium is measurable in closed MLS transactions — not a marketing claim.
Elite Schools Without a Membership Fee
Henry S. West Laboratory School (#17 elementary in Florida) is inside Coral Gables city limits. Ransom Everglades (Top 10 North America) and Gulliver Prep (#6 private HS Florida) require no gated community membership. No $100,000 fee required.
Land Value Creates a Compelling Investment Equation
Teardown lots in North Coral Gables trade between $100 and $140 per square foot of land. When finished new construction achieves $1,100 to $1,400 per SF, the rebuild math becomes compelling for buyers seeking a custom home in one of America's most prestigious zip codes.
Section 02
The Four Sub-Markets of
Coral Gables
Coral Gables is not one market. It operates as four distinct sub-markets, each with its own pricing, buyer profile, and investment dynamic.
Sub-Market 01
North Coral Gables
$1.2M – $3M
Price Range
$400 – $1,400/SF
$/SF
The most accessible entry point into Coral Gables proper. Homes range from unrenovated historic properties — where land value often exceeds the structure — to fully rebuilt new construction achieving top-of-market $/SF. The gap between a dated resale ($400–$500/SF) and a renovated or new home ($900–$1,400/SF) on the same street is the single most important dynamic in this sub-market. Teardown lots trade $100–$140/SF of land. Example: 421 Zamora Ave — 14,000 SF lot closed at $1,700,000. Finished new construction on same lot: $1,100–$1,400/SF.
Sub-Market 02
Central Coral Gables
$2M – $5M
Price Range
$700 – $1,200/SF
$/SF
MLS Data: $918/SF avg · $2,322,394 avg SP · 94% SP/LP (n=113)
The core of the Coral Gables residential market. Tree-lined avenues, historic architecture, proximity to the Biltmore, Venetian Pool, and Miracle Mile. The 94% SP/LP ratio means well-priced properties close near asking. New construction here achieves $1,123/SF avg on 9 documented transactions.
Sub-Market 03
South Coral Gables
$3M – $8M+
Price Range
$1,019/SF avg
$/SF
MLS Data: $3,459,475 avg SP · 93.3% SP/LP (n=63)
The most important data point here: $1,019/SF is the baseline from which gated community premiums are calculated. Hammock Lakes trades at +17% over this baseline. Cocoplum at +43%. Snapper Creek at +65%. Buyers who want estate property in South Gables without a membership fee find genuine value — same neighborhood, same schools, same corporate proximity, without the gated surcharge.
Sub-Market 04
Riviera & Country Club
$2M – $6M
Price Range
Market-dependent
$/SF
The Country Club Section is where the Coral Gables luxury townhome market is concentrated. New construction townhomes here achieve $1,019–$1,635/SF — competing directly with single-family homes in the same price range. The Riviera Section adjacent offers architecturally intact Merrick-era streets with wide lots, mature canopy, and direct proximity to the University of Miami. Together these two areas define the upper tier of the homes market.
Section 03
The Coral Gables
Townhome Market
The Coral Gables townhome market operates across three distinct tiers with dramatically different buyer profiles, price points, and investment dynamics.
$910K – $1.725M
Price Range
$468 – $789/SF
$/SF
1,400 – 2,822 SF
Size
Central Gables
Location
Active Listings
Gables Court TH — 261 Navarre
Madeira TH — 345 Madeira
Recent Closings
1310 Salzedo St
602 Malaga Ave B
Buyer Profile:First-time luxury buyer in CG, downsizer, relocator $1M–$2M budget.
$1.3M – $3.73M
Price Range
$570 – $1,070/SF
$/SF
2,206 – 3,485 SF
Size
Country Club Section
Location
Active Listings
641 Almeria Ave
639 Almeria Ave
Recent Closings
615 Santander Ave C
1133 Campo Sano
647 Almeria Ave
Buyer Profile:Family relocator, executive buyer, $2M–$4M budget, Country Club location priority.
$3.5M – $6.95M
Price Range
$1,019 – $1,635/SF
$/SF
2,962 – 5,397 SF
Size
Country Club Section
Location
Active Listings
2710 S Le Jeune Rd
504 Malaga T14
504 Malaga T8
2617 Anderson Rd
915 Palermo Unit 7
626 Malaga Ave
915 Palermo Unit 1
743 Almeria Ave
Recent Closings
2615 Anderson Rd
$5,140,556
Avg Active Price
$1,292/SF
Avg Active $/SF
$4,999,000
Median Active
$1,323/SF
Median $/SF
Buyer Profile:Ultra-luxury without gated premium. Lock-and-leave. Zero exterior maintenance. Modern turnkey design.
Section 04
Elite Schools & Walkability
No Gated Community Required
Henry S. West Laboratory School
Elementary — Public
Ranked #17 in Florida. Located inside Coral Gables city limits. No gated community required.
Ransom Everglades School
Private — K–12
Top 10 North America. Located on Main Highway, Coconut Grove — 5 minutes from Central CG. No membership fee.
Gulliver Prep
Private — K–12 (High School)
#6 private high school in Florida. Multiple Coral Gables campuses. No gated community access required.
Coral Gables Senior High
Public — IB Programme
International Baccalaureate programme. Consistently among top public high schools in Miami-Dade County.
What You Can Walk to From Central Coral Gables
Michelin-recognized dining
Palme d'Or, La Mar by Gastón Acurio, Biltmore dining
Nordstrom · Miracle Mile
High-end retail, boutique dining, walkable main street
Corporate headquarters
Bacardi, Carnival Corp, IPIC, Merrick Park office district
The Biltmore Hotel
National Historic Landmark, golf, spa, pool — walkable
Venetian Pool
US National Register of Historic Places — public pool carved from coral rock
Coconut Grove
Adjacent neighborhood. Bayfront Park, CocoWalk, restaurants — 5 min drive
Section 05
The Case for Buying
Before Renting
For buyers relocating from New York, Chicago, or California who are considering renting first — the financial math in Coral Gables makes a compelling case for buying sooner. These examples use verified MLS transaction data and assume an all-cash purchase.
Comparable Rental Rates in Coral Gables
Entry Townhome — $1,098,000
Based on 261 Navarre Ave, Gables Court Townhomes
Buy (cash)
Rent
Monthly cost
$2,696
$4,500
Monthly savings
+$1,804
—
5yr total spent
$161,760
$270,000
5yr appreciation @5%
+$303,357
$0
Net wealth 5yr
+$141,597
-$270,000
Mid Townhome — $2,100,000
Based on 1133 Campo Sano Ave, closed Jan 2026
Buy (cash)
Rent
Monthly cost
$5,000
$7,500
Monthly savings
+$2,500
—
5yr total spent
$300,000
$450,000
5yr appreciation @5%
+$580,191
$0
Net wealth 5yr
+$280,191
-$450,000
New Construction — $4,700,000
Based on 2615 Anderson Rd, closed Apr 2026
Buy (cash)
Rent
Monthly cost
$10,600
$15,000
Monthly savings
+$4,400
—
5yr total spent
$636,000
$900,000
5yr appreciation @5%
+$1,298,523
$0
Net wealth 5yr
+$662,523
-$900,000
* Monthly ownership cost includes property taxes (1.8–2.1% annually), homeowners insurance (0.35–0.7%), and HOA fees. Appreciation projection uses conservative 5%/year — actual Coral Gables 10-year appreciation was 129% (2015–2025). Illustrative examples only. Not financial advice. Consult a licensed financial advisor.
Section 06
The Florida Income
Tax Advantage
For buyers relocating from high-tax states, the Florida income tax advantage is not a minor benefit — it is a primary financial driver. The annual savings often exceed the carrying cost of a Coral Gables property.
Zero State Income Tax
0%
Florida State Income Tax
Florida has no state income tax. For a household earning $500,000/year relocating from New York (10.9% state rate) or California (13.3% state rate), the annual tax savings range from $54,500 to $66,500 — every year. Over 10 years, that is $545,000 to $665,000 in retained income.
No Capital Gains Tax at State Level
0%
Florida Capital Gains Tax
Florida imposes no state-level capital gains tax. When you sell your Coral Gables property, you pay only federal capital gains tax — not the additional 9.3%–13.3% that California residents pay, or the 8.82% New York residents pay on top of federal rates.
Homestead Exemption
$50,000
Assessed Value Reduction
Florida's Homestead Exemption reduces your property's assessed value by up to $50,000 for primary residences. Additionally, the Save Our Homes cap limits annual assessment increases to 3% or the CPI — whichever is lower — protecting long-term owners from runaway tax increases.
The Relocation Math
$500K+
Avg 10-Year Tax Savings (NY/CA)
For high-income earners, the Florida income tax advantage alone can offset a significant portion of a Coral Gables property purchase. A buyer saving $60,000/year in state income taxes accumulates $600,000 in retained income over 10 years — before any property appreciation.
State Income Tax Comparison
* State income tax rates as of 2026. Individual tax situations vary. Consult a licensed tax professional before making relocation decisions. Florida has no state income tax; figures represent state-level income tax only, not federal.
Section 07
The Investment Equation
Three Documented Scenarios
Coral Gables produces some of the most favorable rebuild and renovation economics in South Florida. The gap between dated acquisition cost and finished product value is documented in MLS closed transactions — not projections.
Scenario A: Teardown / Rebuild
Land acquisition (14,000 SF lot, North CG)
$1,700,000
Demolition + new construction (4,200 SF at $400–$700/SF)
$1,680,000–$2,940,000
Total all-in cost
$3,380,000–$4,640,000
Comparable closed sales (4,200 SF at $1,200/SF)
$5,040,000
Gross margin: +$400,000–$1,660,000 before carrying costs and fees.
Construction cost estimates reflect current South Florida general contractor pricing ($400–$700/SF depending on specification level, finishes, and site conditions). Verify with a licensed GC before proceeding.
Scenario B: Renovated Historic Sale
Acquisition: unrenovated 1940s Merrick home (2,800 SF)
$1,100,000
Full renovation + landscaping
$420,000
Total cost basis
$1,520,000
Post-renovation closed comps (2,800 SF at $900/SF)
$2,520,000
Gross margin: +$1,000,000. Architecture premium is quantifiable.
Scenario C: New Construction Townhome
Acquisition: townhome from $1,650,000
From $1,650,000
Avg new construction TH $/SF (MLS)
$1,292/SF
Typical 1,500–2,200 SF
3–4 BD
HOA / maintenance cost
Low to minimal
Walkable location + institutional build quality + no gated surcharge.
* Figures based on MLS closed transactions and representative comps. Individual results vary. Not a guarantee of future performance. All scenarios require independent due diligence.
Section 08
New Construction in
Coral Gables
For buyers seeking lock-and-leave luxury without single-family maintenance, new construction is the most compelling option. These five projects represent the full spectrum of new construction available in Coral Gables — from entry luxury to ultra-boutique estate townhomes.
THE GEORGE
From $5.9M+
13 TOWNHOMES ONLY
13 residences · Ultra-boutique
Named for George Merrick, founder of Coral Gables. Mediterranean Revival architecture with private garages, walking distance to Miracle Mile and the Biltmore. Exclusively represented by Ryan Serhant. One of the most limited new construction offerings in Coral Gables history.
PONCE PARK RESIDENCES
From $2,400,000+
MOST LUXURIOUS CONDO EVER BUILT IN CG
58 residences · 11 stories · 3000 Ponce de Leon Blvd
Boutique tower by Allen Morris Company. Architecture by John Cunningham — neoclassicist behind Alhambra Towers. Interiors by Meyer Davis. 2–5 bedrooms, 1,936–3,430 SF. Private elevators per residence. La Cornue kitchens. Rooftop resort pool, wellness spa, and skyline bar. Michelin-recognized restaurant at ground level. Directly across from the $9M-renovated Ponce Circle Park and The Plaza Coral Gables.
THE VILLAGE AT CORAL GABLES
From $2,200,000
AVAILABLE NOW
48 residences · 1,700–3,100 SF · MG Developer
Spanish-inspired architecture with condos, townhomes, lofts, and villas across 48 residences. Delivered 2025 — available now. One of the few completed boutique projects in Central Coral Gables offering immediate occupancy.
CASSIA AT MERRICK PARK
From $824,000+
STR APPROVED · 3-DAY MINIMUM
174 units · RH Furnished
The only new construction in Coral Gables with short-term rental flexibility — 3-day minimum stay approved. RH (Restoration Hardware) furnished units available. 174 residences offering investment flexibility that no other Coral Gables new construction project provides.
CORA MERRICK PARK
From $900,000s+
FIRST WELL-CERTIFIED IN CG
74 units · Last Merrick Park site
First WELL-certified building in Coral Gables. First rooftop padel court in Coral Gables. Last developable site in the Merrick Park district. 74 units. Health-focused programming, biophilic design. Once this site is built, there is no comparable land left in the Merrick Park corridor.
Section 09
Estimated Cost of
Owning in Coral Gables
Total annual ownership costs typically run 2.3%–3% of property value per year, excluding mortgage.
Property Taxes
1.8–2.1% annually
Homeowners Insurance
0.35–0.7% annually
Townhome HOA Fees
Verified MLS Data
* Estimates only. Property tax rates vary based on assessed value, homestead exemption, and millage rate. Insurance rates vary by property type, age, and coverage. Verify all figures with licensed professionals before purchase.
Section 10
Buyer Profiles
Who Buys Coral Gables
$2M – $5M
The Executive Relocator
- Relocating from New York, Chicago, or San Francisco
- Zero Florida income tax is a primary financial driver
- Proximity to Apple, FIFA, Ryder Cup HQ, Bacardi, Carnival
- Buys within 6–12 months of first visit
- Buy vs. rent math is the deciding factor in timing
$1.5M – $4M
The Family Buyer
- Schools are the primary driver — not the property itself
- Henry S. West (#17 elementary FL) inside city limits
- Ransom Everglades, Gulliver Prep, Carrollton within 10 min
- Targets North and Central Coral Gables for school zones
- Outdoor space and neighborhood character secondary priority
$1M – $7M
The Townhome Buyer
- Wants a Coral Gables address without exterior maintenance
- Entry resale $910K to new construction $6.95M
- Lock-and-leave lifestyle — often splitting time between cities
- Appreciates HOA-managed exterior and community security
- Cares more about walkability and finishes than lot size
$1M – $3M
The Land Buyer
- Buying land value, not structure value
- North CG teardown lots at $100–$140/SF of land
- Rebuild finished new construction $1,100–$1,400/SF
- 18–24 month build timeline typical
- Often financing construction through portfolio lender
$2M – $6M
The Downsizer
- Coming from a larger estate or single-family home
- Prioritizes quality, walkability, and minimal maintenance
- Luxury townhome or boutique condo preferred
- Often has significant equity from prior sale
- Willing to pay top $/SF for the right product
Section 11
Frequently Asked
Questions
What is the price range for homes in Coral Gables?
From $1.2M in North Coral Gables to $8M+ in South Coral Gables. Central Coral Gables averages $918/SF with an average sale price of $2,322,394 (n=113). South CG averages $1,019/SF with $3,459,475 average sale price (n=63). New construction achieves $1,100–$1,400/SF.
What is the price range for townhomes in Coral Gables?
From $910,000 for older entry resale to $6,950,000 for new construction in the Country Club Section. Entry resale (pre-2010): $910K–$1.725M at $468–$789/SF. Luxury resale (2000–2016): $1.3M–$3.73M at $570–$1,070/SF. New construction (2023+): $3.5M–$6.95M at $1,019–$1,635/SF. Average active new construction townhome is $5,140,556 at $1,292/SF.
Is it better to buy or rent in Coral Gables?
For buyers with significant equity or purchasing all-cash, buying is financially stronger in nearly every scenario. A cash buyer of a $2.1M townhome spends approximately $5,000/month in total ownership costs versus $7,500/month to rent a comparable property — a $2,500 monthly savings. Over 5 years, the renter spends $450,000 with zero equity accumulation. The owner spends $300,000 in costs while the property appreciates approximately $580,000 at a conservative 5%/year. Actual Coral Gables 10-year appreciation (2015–2025) was 129%.
Do I need to live in a gated community to access top schools?
No. Henry S. West Laboratory School, ranked #17 elementary in Florida, is located inside Coral Gables city limits and is accessible to all Coral Gables residents. Ransom Everglades (Top 10 North America), Gulliver Prep (#6 private high school in Florida), and Carrollton School of the Sacred Heart are all open to any family meeting their admission requirements — no gated community membership required.
What is the difference between a townhome and a single-family home in Coral Gables?
A single-family home offers full lot ownership, private outdoor space, and complete privacy — but also full exterior maintenance responsibility. A townhome includes HOA-managed exterior maintenance and offers a lock-and-leave lifestyle with no yard upkeep. New construction townhomes in Coral Gables achieve comparable $/SF to single-family homes in the same price range, making the comparison more about lifestyle than value.
What are property taxes in Coral Gables?
Property taxes in Coral Gables run 1.8%–2.1% of assessed value annually. On a $2M home, expect $36,000–$42,000 per year. On a $3M home, $54,000–$63,000 per year. Florida homestead exemption reduces assessed value by up to $50,000 for primary residences. Consult a tax professional for your specific situation before purchase.
What is the teardown and rebuild opportunity in North Coral Gables?
Teardown lots in North Coral Gables currently trade at $100–$140 per square foot of land. A 14,000 SF lot transacts at $1.4M–$2M. Finished new construction on that same lot achieves $1,100–$1,400/SF — creating a documented spread that makes rebuild compelling for buyers seeking a fully custom home in one of America's most prestigious zip codes. Build timeline is typically 18–24 months from permit.
Section 12
Updated April 2026Market Snapshot
Coral Gables Homes 2026
Central CG Avg $/SF
$918/SF
n=113
Central CG Avg Sale Price
$2,322,394
Central CG SP/LP Ratio
94%
Well-priced closes near asking
Central CG New Const $/SF
$1,123/SF
n=9 transactions
Central CG New Const Avg SP
$5,187,222
South CG Avg $/SF
$1,019/SF
n=63
South CG Avg Sale Price
$3,459,475
South CG SP/LP Ratio
93.3%
New Const TH Avg $/SF
$1,292/SF
Active market
New Const TH Median Price
$4,999,000
Documented Closing
$4,700,000
$1,152/SF · Apr 2026 · 2615 Anderson Rd
Avg Days on Market
90–130 days
All Coral Gables homes
Well-Priced DOM
30–60 days
Priced at or below market
* Data sourced from MLS closed transactions and active listings. Figures represent market conditions as of April 2026. Individual property values vary. Not a guarantee of future performance.
Section 13 · Work With Julian
The Homes Market Is Where
Most Coral Gables Transactions Happen
Most buyers focus on gated communities. The homes market is where the majority of transactions happen — historic architecture, the strongest townhome opportunity, and the most compelling value for buyers who understand the market. Julian Acosta has represented buyers and sellers across every neighborhood in Coral Gables for 19+ years — from North Coral Gables teardowns to Country Club new construction townhomes.
19+
Years in Coral Gables
$500M+
In Transactions
70%+
Homes Market Share
Frequently Asked Questions
Common Questions About
Coral Gables Homes
What is the difference between gated and non-gated Coral Gables?
Gated communities (Gables Estates, Cocoplum, Snapper Creek, etc.) represent less than 30% of total Coral Gables transactions and carry premiums of +17% to +65% over comparable homes. Coral Gables homes are the majority of the market — historic neighborhoods, luxury townhomes, and walkable streets that offer the same schools, corporate proximity, and city services as gated communities.
Is Coral Gables safe outside gated communities?
Coral Gables has its own municipal police department — one of the few cities in Miami-Dade with fully independent police services. Crime rates in Coral Gables consistently rank among the lowest of any municipality in Miami-Dade County, gated or not. Security is a city-wide benefit, not a community-specific one.
What are typical HOA fees for homes in Coral Gables?
Single-family homes in Coral Gables typically have no HOA fee. New construction townhomes carry HOA fees ranging from $300–$900/month depending on amenities. This contrasts sharply with gated communities, which carry entrance fees ($25,000–$100,000 non-refundable), annual dues, and in some cases lifestyle membership fees.
Which streets command the highest prices in Coral Gables?
The highest-value streets tend to be those with significant canopy, wide lots, and Merrick-era architecture: Alhambra Circle, Coral Way east of Red Road, Granada Boulevard, and the Riviera Section streets near the University of Miami. In South Coral Gables, waterfront lots on Biscayne Bay can achieve $8M+ without any gated community premium.
Can I find new construction homes in Coral Gables?
Yes. New construction single-family homes and luxury townhomes are actively being built throughout North and Central Coral Gables. Teardown activity has accelerated as land values have risen to $100–$140/SF. Finished new construction is achieving $1,100–$1,400/SF on single-family and $1,150–$1,500/SF on luxury townhomes — some of the strongest new construction $/SF metrics in all of Miami.
How does Julian Acosta approach Coral Gables buyer representation?
Julian provides a data-driven comparative analysis across all four sub-markets before any search begins. This includes current $/SF by neighborhood, SP/LP ratios, days on market, and documented renovation vs. teardown economics for any property type and price range under consideration. His 19+ years of Coral Gables transaction history means he knows which streets have the deepest buyer pools and which have the most favorable rebuild math.
Work With Julian
19 Years of Coral Gables
Homes Market Transactions
Julian Acosta has transacted across every sub-market in Coral Gables — from $1.2M North Coral Gables teardowns to $8M South Coral Gables estates. He provides a sub-market level analysis, documented $/SF comps, and access to off-market inventory before any search begins. His buyer clients consistently avoid overpaying because they understand the market before they make an offer.
19+
Years Experience
$500M+
In Transactions
70%+
Market Share CG