Selective demand, affordability shifts and development across the tracked submarkets

A deed-derived Pinecrest Q3 report records 47 sales above $2 million, $203.7 million in volume, and a $3.375 million median, with methodology caveats; Jeff Green’s $15.5 million estate sale adds a notable comp but does not establish a trend. Coconut Grove’s reported median is $1.89 million, up 9.3% year over year. New broad-market context reports Miami’s October home price at $496,000, down 4.3% annually, but this is not a luxury or tracked-submarket measure and the cause is uncertain. Coral Gables has The Aurelian’s $81 million construction loan and Seventeen Gables’ 117-unit pipeline, while South Miami’s proposed Downtown SoMi district remains pending.