Published November 1, 2026 in Market Update

Coconut Grove sales rose even as inventory fell

By Elizabeth Costa

Real estate, Coconut Grove

Sales in Coconut Grove climbed 13.3% in the three months ending August 31, 2026. At the same time, inventory fell 18.4%. The Real Estate Data Aggregator counted 315 closings and only 555 homes for sale across the Grove's three ZIP codes. More buyers, fewer choices. That's the short version.

For homeowners, buyers are still showing up. For buyers, there's less to choose from, and that gap is real. Miami Realtors reported that South Florida single-family homeowners who purchased 15 years ago have over $500,000 in home equity as of 2026 Q2. That context matters when you're deciding whether to list.

How each ZIP code read

The three ZIP codes that make up the Grove each told a slightly different story. Here's what the Real Estate Data Aggregator counted for the three months ending August 31, 2026.

ZIP 33146 shows a 38.3% drop in median price. That number needs context. Only 28 homes sold there, down 17.6% from last year. A smaller, different mix of closings can move the median sharply. The Real Estate Data Aggregator also shows that 97% of list price was recovered on average in 33146, up 3.8 points from 2025. And 17.9% of homes sold above list, up 17.9 points year over year. Those two facts point to a market that's actually getting more competitive, not weaker.

Where buyers moved fastest

The share of homes going under contract within two weeks of listing tells you where urgency is highest. The Real Estate Data Aggregator tracked this for each ZIP in the three months ending August 31, 2026.

ZIP 33146 had the fastest pace. Nearly 1 in 4 homes there went under contract within two weeks. That's up 14.2 points from the same period in 2025, according to the Real Estate Data Aggregator. ZIP 33134 also picked up speed, with the two-week contract share rising 4.7 points year over year.

Pending sales point ahead

Pending sales show what's coming, not just what closed. The Real Estate Data Aggregator counted 319 pending sales across the Grove in the three months ending August 31, 2026, up 14.3% from 2025. ZIP 33134 led that gain with pending sales up 34% year over year.

The wider picture

The Grove doesn't exist in a vacuum. Miami Realtors reported that Miami-Dade recorded 24 single-family and condominium sales of $30 million or more through September 2026. That's the top of the market staying active. Miami Realtors also noted that the Miami-Fort Lauderdale area saw an average homeowner equity gain of $300,000 over the last five years. Equity built here runs deep.

Mortgage rates are a real factor for buyers right now. Realtor.com reported that rates climbed above 7% for the first time since January 2025. That adds cost and slows some decisions. It's part of why days on market in 33133 and 33134 are longer than last year, at 93 and 98 days respectively, according to the Real Estate Data Aggregator.

One more thing: ZIP code numbers cover wide areas. A single street in Coconut Grove can read very differently from the ZIP as a whole. If you want to know what's happening on your block specifically, reach out.