By Gay Cororaton, MIAMI REALTORS Chief Economist
Key Takeaways
- Sales of non-agricultural land in South Florida rose to a high of $7.2 billion in 2025, up 7%. Residential land accounted for 79% of sales.
- The median sales price of residential land rose to $101 per square foot, up 6% from the prior year and 14x the level in 2019 at $7 PSF. The most expensive markets were Palm Beach ($1,056 PSF), Miami Beach ($846 PSF), and Coral Gables ($433 PSF).
- Palm Beach County ($3.9 billion) and Miami-Dade County ( $2.1 billion) accounted for the lion’s share at 83%. By number of sales, the top land markets were The Acreage (895 parcels), Palm Beach Gardens (586 parcels), and Boca Raton (333 parcels).
Read the 2025 South Florida Land Market Report HERE.
As wealth and talent continue to gravitate to South Florida, non-agricultural land sales volume rose to its highest level at $7.2 billion in 2025, according to Miami Association of Realtors (MIAMI) estimate since 2019 based on county records. Residential land sales accounted for 78% of sales at $5.6 billion.
Land sales have moved in line with the upward increase in sales volume of home sales and commercial real estate sales. In 2025, the dollar volume of existing home sales in the five South Florida counties rose to $62.1 billion, up 2.3% from the prior year. Sales of the core four commercial real esate asset types – multifamily, office, industrial, and retail – rose to $16 billion, up 26%.
Top residential land markets in South Florida: The Acreage, Palm Beach Gardens, and Boca Raton
Palm Beach County and Miami-Dade accounted for the lion’s share of sales volume at 83%. Miami-Dade saw the strongest increase in land sales volume, up 62% from one year ago to $2.1 billion. St. Lucie County also saw a 31% increase in in land sales to $167.8 millon. Palm Beach County had the largest sales volume at $3.9 billion despite a 5% decline. In Broward County, sales slid down to $550 million (-13%) and in Martin County to $420 million (-22%).
By number of parcels sold, the biggest land market in 2025 was The Acreage with 895 parcels sold at $85 per square foot (PSF). The Acreage is a census designated place in Palm Beach County approximately 18 miles (29 km) northwest of West Palm Beach.
The area with the second highest number of land sold in 2025 was Palm Beach Gardens with 586 parcels sold at $155 PSF.
Boca Raton had the third most land sales with 333 parcels sold at $161 PSF.
Port St. Lucie had the fourth most land sales with 249 parcels at $14 PSF.
Fort Pierce had the fifth most land sales with 210 parcels sold at $5 PSF.
Most and least expensive residential land markets: Palm Beach, Miami Beach, and Coral Gables
Residential land prices continued to rise to $101 PSF, up 6% from one year ago, and 14 times the level in 2019 when the median residential land price was just $7 PSF.
In the city of Miami, the median residential land sales price rose to $99 PSF, up 71%. Median sales prices could fluctuate significantly in markets with few transactions and depending on the mix of land sales and the location of those lands, particularly if waterfront or not.
The most expensive residential land markets are the town of Palm Beach with a median sales price of $1,056 PSF, followed by Miami Beach at $846 PSF, and Coral Gables at $433 PSF.
The least expensive residential land markets are Belle Glade in Palm Beach County at $4 PSF, Loxahatchee Groves in Palm Beach County at $4 PSF, and Palm City in Martin Counthy at $4 PSF.
Who’s Buying Land in South Florida?
In Miami-Dade County, the largest land deal was the purchase of a residential land in Indian Creek, reportedly adjacent to Jeff Bezos’ property, for for $105 million or $1,311 PSF. The most expensive land deal was the purchase of a residential land in Bal Harbour for $60.5 million or $1,502 PSF.
In 2025, the largest land deal in Broward County was the acquisition of Millrose Properties Florida LLC ( publicly traded company of Lennar) of a vacant commercial land in Pompano Beach for $50 million or $ 57 PSF which will be used for the residential component of The Pomp, a mixed-use development project. See Lennar Land Bank Pays $50 Million For Pompano Beach Site. Another notable acquisition is the vacant commercial land in Sunrise by Baptist Health to be the site of a hospital opening in 2029. See Baptist Health Sunrise Hospital | New Hospital in Broward County Opening 2029 | Baptist Health South Florida
In Palm Beach County, the largest land deal in 2025 was the acquisition of a vacant commercial land in West Palm Beach for $87 million or $2,015 PSF. Another notable deal was the sale of a vacant residential land owned by 701 South Ocean Trust (associated with Mark Pulte of the Pulte Group) for $59 million or $1,141 PSF.
The largest land acquisition in Martin County was the $38.75 million purchase of a vacant residential land in Jupiter Island at $453 PSF. Hobe Sound snagged several land deals of over $10 millon ranging from $60 to $128 PSF.
The largest land deal in St. Lucie County in 2025 was the $8.8 million acquisition for a parcel of land at $2 PSF by Tide at Wylder LLC, which is behind the development of Wylder, a 1,970-acre master-planned community in Fort Pierce that is planned to have 3,400 single-family homes and 600 multifamily homes, with high-end amenities that include an 18-hole golf course and beach-entry pools. See Wylder Port St. Lucie: Master-Planned Community Overview.
What’s Driving South Florida’s Demand for Land?
Underpinning the robust demand for land and real estate is the confluence of low mortgage rate in 2020-2022 and the movement of wealth and talent into South Florida as it continues to become a major tech and finance hub and be the top destination for global residential investment in the US.
Over the period 2019-2023, $137 billion in income flowed into Florida, with $41.6 billion or 30% flowing into South Florida. See Palm Beach County: 1 in the Nation in Net Inflow of Income from Domestic Migration Per Latest IRS Tax Data – MIAMI REALTORS® .
In 2024, the Miami Metro Area saw 55,244 out-of-state workers switch to a job in the Miami Metro Area, with highly skilled- and higher-earning workers in the professional, scientific, and technical industry accounting for the largest share of job switchers led by job movers from New York, New Jersey, and California. See New York, Texas, and California: Top States Switching Jobs to South Florida – MIAMI REALTORS®.
South Florida continues to be the top destination for global buyers, accounting for about half of global buyers in Florida, the top state destination of international residential buyers. Miami was ranked No. 1 in the U.S. in global residential investment in the 2026 Knight Frank Wealth Report. See The Wealth Report 2026 – Knight Frank
