Downtown Coral Gables Condos Under $1M: 2026 Sales Update by Building

2026 Sales Update by Building

If you are looking for condos under $1 million in Downtown Coral Gables, the 2026 sales activity shows a market that is active, but very building-specific.

Most of the closed sales reviewed have happened between $500,000 and $750,000, with meaningful differences in pricing, days on market, and buyer demand from one building to another.

This update focuses on 2026 year-to-date closed condo sales under $1 million in the Downtown Coral Gables area, including buildings such as 55 Merrick, Douglas Grand, Puerta de Palmas, Ten Aragon, Gables Park Tower, Villa Isabella, 100 Andalusia, Villa Calabria, 1300 Ponce, The Minorca and The Ponce de Leon Condo.

Higher-priced luxury condo, villa, and townhome-style residences were excluded from this analysis because they behave differently and can distort the averages.

Quick Answer: What Is Happening with Downtown Coral Gables Condos Under $1M?

The Downtown Coral Gables condo market under $1M remains active in 2026. Based on the sales reviewed, there have been 30 closed sales under $1 million, with a median sale price of approximately $560,000 and a median sold price per square foot of approximately $510.

The strongest activity has been in the $500,000 to $750,000 range.

However, the biggest takeaway is that Downtown Coral Gables condos should not be evaluated as one broad market. Pricing and buyer demand vary significantly by building.

2026 Year-to-Date Snapshot: Downtown Coral Gables Condos Under $1M

The median numbers are especially helpful in this segment because they show where the typical sale is landing. In this case, the median sale price of approximately $560,000 gives a clearer picture of the core Downtown Coral Gables condo market under $1M.

The Most Active Price Range Is $500K to $750K

The majority of sales under $1M have been concentrated between $500,000 and $750,000.

This makes the $500K to $750K price range the heart of the Downtown Coral Gables condo market under $1M.

For buyers, this means there are options in this price range, but the better-positioned units may still attract strong interest.

For sellers, it means pricing strategy matters. Buyers in this segment have enough inventory to compare, so overpricing can result in longer days on market.

Sales Activity by Building

Several Downtown Coral Gables condo buildings stood out because of their year-to-date sales activity under $1M.

What Stands Out by Building

55 Merrick – 55 Merrick Way, Coral Gables FL 33134

55 Merrick had one of the highest levels of activity under $1M, with 5 closed sales. The average sale price was approximately $645,000, with an average sold price per square foot of approximately $573.

This suggests that 55 Merrick continues to be one of the more active and higher-priced options within the under-$1M Downtown Coral Gables condo segment.

Click to see 55 Merrick Closed Sales Jan-June 2026

Douglas Grand – 50 Menores Ave, Coral Gables FL 33134

Douglas Grand also had 5 closed sales, but at a much lower average sale price of approximately $309,000.

This makes Douglas Grand one of the more accessible entry points into the Downtown Coral Gables condo market. The average sold price per square foot was approximately $380, which is significantly lower than many of the other buildings reviewed.

Click to see Douglas Grand Closed Sales Jan-June 2026

Puerta de Palmas – 888 S Douglas Rd, Coral Gables FL 33134

Puerta de Palmas had 4 closed sales under $1M, with an average sale price of approximately $562,000.

However, Puerta de Palmas also had a large number of active listings at the time of the review, maybe due to an ongoing special assessment. This is important because when buyers have multiple choices inside the same building, they compare very closely on price, condition, floor level, view, parking, and the seller willingness to negotiate who pays how much of the special assessment.

For sellers in Puerta de Palmas, pricing needs to be especially strategic.

Click to see Puerta de Palmas Closed Sales Jan-June 2026

Ten Aragon – 10 Aragon Ave, Coral Gables FL 33134

Ten Aragon had 3 closed sales under $1M, with an average sale price of approximately $710,000.

This places Ten Aragon toward the higher end of the under-$1M activity reviewed. Buyers looking in this building are often comparing not only price, but also unit size, layout, amenities, parking, and walkability.

Click to see Ten Aragon Closed Sales Jan-June 2026

Gables Park Tower – 357 Almeria Ave, Coral Gables FL 33134

Gables Park Tower had 3 closed sales under $1M, with an average sale price of approximately $533,000 and an average sold price per square foot of approximately $560.

This building shows that price per square foot can remain strong even when the overall sale price is still within a more approachable range.

Click to see Gables Park Tower Closed Sales Jan-June 2026

Villa Isabella – 322 Madeira Ave, Coral Gables FL 33134

Villa Isabella had 3 closed sales, with an average sale price of approximately $515,000.

The standout point was the shorter marketing time. The sales reviewed averaged approximately 19 days on market, which was much faster than the overall under-$1M average. Because this is a small sample, it should not be interpreted as a full building trend, but it is still worth noting.

Click to see Villa Isabella Closed Sales Jan-June 2026

Active Inventory Under $1M

At the time of the MLS review, there were approximately 34 active listings under $1M in the Downtown Coral Gables condo area.

The buildings with the most active inventory included:

This matters because active inventory affects negotiation.

When a building has several units available at the same time, buyers can compare options more easily. For sellers, this means the real competition may not be the broader Coral Gables market. It may be another unit in the same building.

Pending and Under Contract Activity

There were also 7 listings under $1M pending or active with contract at the time of the review.

The pending activity was concentrated in buildings including Gables Park Tower, The Ponce Tower, 55 Merrick, 100 Andalusia, and Puerta de Palmas.

This shows that the under-$1M market is still moving, but not equally across all buildings.

Cash Buyers Are Still a Major Factor

One of the most important details in the under-$1M segment is the amount of cash activity.

Of the 30 closed sales reviewed:

Cash represented a very large share of the closed sales under $1M.

This does not mean financed buyers cannot compete. It means preparation matters.

Buyers using financing should be strongly pre-approved, understand condo financing requirements, and be ready to present clean terms when the right unit becomes available.

For sellers, a cash offer may be attractive, but it should still be evaluated together with price, deposit amount, inspection terms, closing timeline, and overall certainty.

Why Price Per Square Foot Is Not Enough

Price per square foot is helpful, but it does not tell the full story.

Two condos in Downtown Coral Gables may have a similar size and price, but very different value depending on:

• Building condition
• Monthly association fees
• Reserves and insurance costs
• Parking
• Amenities
• Floor level
• View
• Renovation level
• Layout
• Rental restrictions
• Current competition in the same building

This is why building-by-building analysis is so important.

A unit at Douglas Grand should not be compared the same way as a unit at 55 Merrick, Ten Aragon, or 100 Andalusia. Each building has its own pricing pattern, buyer profile, and resale dynamics.

What Buyers Should Know

For buyers, the Downtown Coral Gables condo market under $1M offers options, especially in the $500K to $750K range.

However, the opportunity is not just finding the lowest price. The better question is whether the unit is priced correctly for its building, condition, monthly fees, and current competition.

Buyers should pay attention to:

• Recent closed sales in the same building
• Active listings in the same building
• Days on market
• Seller price reductions
• Monthly condo fees
• Parking
• Building financials
• Insurance and reserves
• Renovation level
• Financing requirements

The biggest mistake buyers can make is comparing Downtown Coral Gables condos only by price per square foot.

What Sellers Should Know

For sellers, the under-$1M market is active, but buyers are selective.

The most important pricing question is not simply, “What are Coral Gables condos selling for?”

The better question is:

What has sold in your building, what is currently available, and how does your unit compare?

Sellers should look carefully at:

• Closed sales in the same building
• Active competition
• Pending sales
• Price reductions
• Days on market
• Unit condition
• Floor level and view
• Parking
• Monthly fees
• Building amenities

If there are several active listings in the same building, pricing too high can make a unit sit longer. In today’s market, buyers are comparing options carefully, especially when they have multiple units to choose from.

Final Takeaway

The Downtown Coral Gables condo market under $1 million remains active in 2026, especially in the $500,000 to $750,000 range.

But the market is not moving as one broad category.

It is moving building by building.

For buyers, that means value depends on understanding the differences between buildings before making an offer.

For sellers, it means pricing should be based on your specific building, your unit’s features, and the competition available at the time you list.

If you are thinking about buying or selling a condo in Downtown Coral Gables, the most useful question is not only:

What is the market doing?

The better question is:

What is happening in your specific building?

Frequently Asked Questions About Downtown Coral Gables Condos Under $1M

Are there condos under $1 million in Downtown Coral Gables?

Yes. Based on the 2026 year-to-date sales reviewed, there has been consistent activity under $1 million in Downtown Coral Gables. Most of the closed sales reviewed were between $500,000 and $750,000.

What is the average price of condos under $1M in Downtown Coral Gables?

For the sales reviewed, the average sale price was approximately $565,000, while the median sale price was approximately $560,000.

What is the average price per square foot for Downtown Coral Gables condos under $1M?

The average sold price per square foot was approximately $505, and the median sold price per square foot was approximately $510.

Which Downtown Coral Gables condo buildings had the most activity under $1M?

The buildings with the most closed sales under $1M included 55 Merrick, Douglas Grand, Puerta de Palmas, Ten Aragon, Gables Park Tower, and Villa Isabella.

Are cash buyers common in Downtown Coral Gables condos?

Yes. In the under-$1M sales reviewed, cash buyers represented a large share of the closed activity. This does not mean financed buyers cannot compete, but it does mean preparation is important.

Is price per square foot the best way to compare Coral Gables condos?

Not by itself. Price per square foot is useful, but buyers and sellers should also consider building condition, monthly fees, reserves, parking, amenities, floor level, views, condition, and current competition.

Is Downtown Coral Gables a good area for condo buyers?

Downtown Coral Gables can be attractive for buyers looking for walkability, restaurants, shops, offices, and access to Miracle Mile and surrounding neighborhoods. However, the right purchase depends on the specific building, unit, price, and long-term ownership costs.

What other buildings with condos under $1M in Coral Gables should I consider?

These are all great buildings that are in downtown and didn’t have much activity or are a little farther south closer to US 1.

The Minorca – 2030 S Douglas Rd, Coral Gables FL 33134

Click to see The Minorca Closed Sales Jan-June 2026

1300 Ponce – 1300 E Ponce de Leon Blvd, Coral Gables FL 33134

Click to see 1300 Ponce Closed Sales Jan-June 2026

The Ponce de Leon Tower – 1607 Ponce de Leon Blvd, Coral Gables FL 33134

Click to see The Ponce de Leon Tower Closed Sales Jan-June 2026

Merrick Manor – 301 Altara Ave, Coral Gables FL 33146

Click to see Merrick Manor Closed Sales Jan-June 2026

One Village Place – 4100 Salzedo St, Coral Gables FL 33146

Click to see One Village Place Closed Sales Jan-June 2026

Source

This report is based on MLS activity reviewed for Downtown Coral Gables condo properties under $1 million, year-to-date 2026. Higher-priced luxury condo, villa, and townhome-style condo residences were excluded to keep the analysis focused on the core under-$1M condo market.

Figures are rounded for readability. Market data changes frequently and should be verified at the time of buying or selling.