MIAMI — Palm Beach County all-cash real estate deals remain twice the national figure as total home sales jumped year-over-year in September 2025, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
About 51.3% of all Palm Beach County real estate deals are all-cash. Palm Beach County total home sales increased 21.6% year-over-year, from 1,628 to 1,980.
“Palm Beach is the new Wall Street of the South with new businesses relocating every month,” JTHS-MIAMI President Ginenne Boehm said. “Florida’s no-state income tax, pro-business government, weather and more continue to attract domestic and global buyers.”
Several new rankings that reflect South Florida real estate’s strong market fundamentals:
- Miami is ranked No. 1 in the U.S. in all-cash sales in the first half of 2025 via Realtor.com. 43% of all real estate deals in Miami are all-cash. A high all-cash market is strengthened vs. recessions and more immune to rising mortgage rates.
- Miami-Fort Lauderdale-West Palm Beach ranked No. 3 in the U.S. in Skilled Job Growth via Lightcast’s Talent Attraction Scorecard for 2025
- Miami ranked No. 26 Most Important Financial Center in the World via the Global Financial Centres Index
Palm Beach County Total Sales and $1M & Up Transactions Rise
Palm Beach County total home sales increased 21.6% year-over-year, from 1,628 to 1,980.
The growth was partly fueled by total $1M and up transactions, which increased 20.92% year-over year in September 2025 from 282 to 341.
South Florida is on pace to post the second-most $10M and up home sales for a calendar year. At its current selling pace, South Florida is projected to have 426 ultra-luxury sales by the end of the year. That would be just shy of the record 444 set in the pandemic home-buying craze of 2021.
The sales total doesn’t include South Florida’s new construction, pre-construction and condo conversion sales because they are largely not reported in the MLS. But MIAMI led the charge to publish a first-ever report.
International buyers purchased 49% of new South Florida construction, pre-construction and condo conversion sales over an 18-month period ending in June 2025, according to MIAMI REALTORS® first-ever New Construction Global Sales Report. Data was aggregated from 9,115 units in 37 new construction condominium projects in the Miami market area. MIAMI collaborated with Cervera Real Estate, ISG World, PMG, SERHANT. New Development and ONE Sotheby’s International Realty for the report.
Palm Beach County single-family home sales increased 24.79% year-over-year in September 2025, from 932 to 1,163.
Palm Beach County $1M & Up Condo Sales Surge
Palm Beach County existing condo transactions increased 24.79% in September 2025, from 932 to 1,163.
$1M & up condo sales increased 27.73% in September 2025, from 220 to 281.
The lack of Federal Housing Administration loans for many existing Miami condominium buildings is preventing further market strengthening. Of the 2,397 condominium buildings in Miami-Dade, Broward and Palm Beach counties, only 21 are approved for FHA loans, according to statistics from the U.S. Department of Housing and Urban Development.
Just 0.9% of South Florida condo buildings are approved for FHA loans. Florida is the only state in the U.S. that requires a client to put down 25% for a limited review if the condo building doesn’t have enough in reserves. The requirement for every other state is 10%.
Palm Beach County Price Appreciation
Palm Beach County existing condo median prices decreased 4.76% year-over-year in September 2025, from $315,000 to $300,000.
Palm Beach County single-family home median sale prices stayed even year-over-year in September 2025 at $615,000.
South Florida remains a bargain in comparison to other global cities. For $1M, homebuyers can purchase 58 square meters of prime property in Miami, according to the 2025 Knight Frank Wealth Report. That is almost four times more than Monaco (19 square meters), nearly two times more than New York (34) and London (34) and more than Paris, Sydney, Tokyo and more.
South Florida Real Estate Home Equity & Appreciation is Nearly 2X the National Figure
Home equity is crucial for wealth building, provides a financial safety net, investment opportunities, refinancing options and more.
Miami’s home equity gains are nearly two times the national figure. Home equity gains on a Miami single-family home purchased in Q4 2009 and sold in Q4 2024 is $555,900 versus the U.S. average at $306,600, according to MIAMI REALTORS® Research.
Home equity gains on a Miami condo purchased in Q4 2009 and sold in Q4 2024 is $342,600 versus the U.S. average of $252,000.
Over the last five years, the average homeowner’s wealth has increased by $140,900, according to NAR. Research also shows a growing wealth gap between owners and renters: Based on the latest Federal Reserve Survey of Consumer Finance, NAR projected in March that homeowners’ median net worth would reach $430,000 in 2025 versus $10,000 for renters.
Florida’s Live Local Act, which was passed in 2023 and amended in May 2024, is encouraging developers to build more affordable housing. The Live Local Act gives developers the highest density allowed in a local area if they allocate 40% of its units for affordable housing. The state law defines an affordable unit as being at or below 120% of an area’s median income.
Mortgage Rates Declining
Mortgage rates are trending down after the first Fed rate cut of the year. According to Freddie Mac, the 30-year fixed-rate mortgage was 6.35% in September 2025.
“We should see this Miami homebuyer momentum strengthening in the last quarter and though next year as mortgage rates continue to decline towards 6%, as the condo and insurance market continue to stabilize, and with demand bolstered by the migration of highly skilled workers and the demographic tailwind from retiring Baby Boomers,” MIAMI REALTORS® Chief Economist Gay Cororaton said.
Total Palm Beach County Inventory Below Pre-Pandemic; New Listings Drop
New listings continue to fall each month and active listings are not growing as fast as they were at the start of the year.
Total active listings at the end of September 2025 increased 3.8% year-over-year, from 12,028 to 12,490. Homebuyers are in a great position to find the right home and negotiate for a better price.
New listings for all Palm Beach County properties increased 0.61%, from 2,957 to 2,975. This shows there is no rush to list and that the rise in active listings could decline in the future.
Inventory of single-family homes increased 2.80% year-over-year in September 2025 from 5,424 active listings last year to 5,576 last month.
Condominium inventory increased 4.69% year-over-year in September 2025, from 6,604 to 6,914 listings during the same period in 2024, but the total is still significantly below pre-pandemic.
Months’ supply of inventory for single-family homes is 5 months, which indicates a balanced market. Inventory for existing condominiums is 8.8 months, which indicates a buyer’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Nationally, total housing inventory is 1.55 million units, according to NAR. That is up 1.3% from August and up 14% from September 2024 (1.36 million). There is a 4.6 month supply of unsold inventory, no change from August and up from 4.2 months in September 2024.
Palm Beach County Real Estate: $255 Million in Local Economic Impact
Every time a home is sold it impacts the economy: income generated from real estate industries (commissions, fees and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing related expenditures (income earned as a result of a home sale is re-circulated into the economy) and new construction (additional home sales induce added home production).
The total economic impact of a typical Florida home sale is $129,000, according to NAR. Palm Beach County sold 1,980 homes in September 2025 for a local economic impact of $255 million.
Palm Beach County total dollar volume increased 28.04% year-over-year in September 2025 to $1.6 billion.
Single-family home dollar volume increased 32.42% year-over-year to $1.2 billion. Condo dollar volume increased 16.11% year-over-year to $399 million.
Palm Beach County Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 0.5% of all closed residential sales in Palm Beach County were distressed last month, including REO (bank-owned properties) and short sales, versus 0.7% in September 2024.
Short sales and REOs accounted for 0.1% and 0.4%, respectively, of total Palm Beach sales in September 2025.
South Florida’s percentage of distressed sales are less than the national figure. Nationally, distressed sales have averaged 2%.
National and State Statistics
In Florida, closed sales of single-family homes statewide totaled 21,271 in September 2025, up 13.6% year-over-year, while existing condo-townhouse sales totaled 7,187 up 8%.
The statewide median sales price for single-family existing homes was $410,000, even from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $299,000, down 4.8% vs. last year. The median is the midpoint; half the homes sold for more, half for less.
Nationally, total existing home sales increased 4.1% year-over-year to a seasonally adjusted annual rate of 4.06 million, according to NAR. Median existing home prices increased to $415,200, up 2.1% from one year ago ($406,700)— the 27th consecutive month of year-over-year price increases.
Palm Beach County Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 95% in September 2025. The median percent of original list price received for existing condominiums was 91%.
The median number of days between listing and contract dates for Palm Beach County single-family home sales was 48 days, up from 35 days last year. The median time to sale for single-family homes was 87 days, up from 75 days last year.
The median number of days between the listing date and contract date for condos was 73 days, up from 48 days. The median number of days to sale for condos was 111 days, up from 90 days.
Palm Beach County Cash Sales
Cash sales represented 51.3% of Palm Beach County closed sales in September 2025, compared to 48.7% in September 2024. About 30% of U.S. home sales are made in cash, according to the latest NAR statistics.
Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects South Florida’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.
Cash sales accounted for 62.3% of all Palm Beach County existing condo sales and 43.5% of single-family transactions.
To access September 2025 Palm Beach County Statistical Reports, visit http://www.SFMarketIntel.com
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About the MIAMI Association of REALTORS®
The MIAMI Association of REALTORS® (MIAMI) was chartered by the NATIONAL ASSOCIATION OF REALTORS® in 1920, and is celebrating 105 years of service to REALTOR® members, the buying and selling public, and the communities in South Florida. Composed of six boards: MIAMI- RESIDENTIAL, MIAMI- COMMERCIAL; BROWARD-MIAMI, a division of MIAMI REALTORS®; JTHS-MIAMI, a division of MIAMI REALTORS® in the Jupiter-Tequesta-Hobe Sound area; MIAMI YPN, our Young Professionals Network Council; and the Corporate Board of Directors. MIAMI REALTORS® represent 58,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local REALTOR® association in the U.S. and has official partnerships with 290 international organizations worldwide. MIAMI’s official website is www.MiamiRealtors.com
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