Coconut Grove Luxury Condo Market Stalls As Falling Sales Push Supply Higher

In this episode of Miami Condo Mondays™, the hosts discuss how luxury condo listings of at least $1 million are struggling due to a slowdown in transaction velocity in Coconut Grove.Miami Condo Mondays™ is a live podcast hosted by Peter Zalewski of the Miami Condo Investing Club™ and veteran broker Jenny Huertas of CVRRealty.com providing an in-depth look at the latest residential real estate trends in South Florida.Recorded weekly in Greater Downtown Miami, the podcast offers a one-hour discussion on various real estate topics, including preconstruction condos, market trends and investment strategies.The hosts share their expertise, with Zalewski focusing on macro perspectives and Huertas offering micro insights from her on-the-ground experience.Tune in every Monday at 4 PM (EST) on the social media accounts of Peter Zalewski and Jenny Huertas for insights on the latest trends in the South Florida condo market.Episode OverviewIn this episode of the Miami Condo Mondays™ podcast on Feb. 23, 2026, co-hosts Jenny Huertas of CVR Realty and Peter Zalewski of the Miami Condo Investing Club™ break down why the wealthy enclave of Coconut Grove—one of the strongest markets tracked with the South Florida Condo Cliff Index™—is finally showing cracks.The discussion is based on the latest research conducted in anticipation of the planned Coconut Grove Condo Correction Walking Tour™ scheduled for 10 am Saturday, Feb. 28, 2026.During the 64-minute podcast, Huertas and Zalewski explore the mounting inventory pileup where 11.8 months of luxury condo supply is now sitting on the market, driven by a disconnect between premium asking prices and anemic sales velocity.While the Overall market sits at nearly 11 months of supply in the fist half of the South Florida Winter Buying Season, the luxury segment of the Coconut Grove market is becoming a primary area of concern for investors and cash-strapped sellers alike.The active listing data reveals a definitive “tipping point” at the $1 million mark, where units priced below that threshold remain in equilibrium or a Sellers Market, while everything priced above it has stalled.Huertas and Zalewski dig into the specific sales pace of the market, using 2025 Summer Buying Season transaction data to gauge just how long it will take to clear the 94 luxury listings currently sitting idle on the market.Additionally, Huertas and Zalewski discussed the historical context of the West Grove’s Bahamian heritage, Coconut Grove’s contributions to the U.S. cultural zeitgeist and the legacy of Henry Flagler’s Florida East Coast railroad to Key West that shaped the neighborhood’s unique landscape more than a century ago.The duo also discuss the emerging value play of Vintage condos, where motivated sellers are willing to cover the upfront repair and assessment costs in combination with discounted prices just to move their units.The discussion provides a roadmap for anyone trying to time the South Florida Winter Buying Season before it fades into Summer’s heat, humidity and hurricane warnings.