By MIAMI REALTORS® + RWorld Chief Economist Gay Cororaton
Key Takeaways
- Sales that went under contract in April (pending sales) rose 12% year-over-year, the 9th consecutive month of y/y growth .
- Sales contracts on million-dollar homes rose at an even stronger pace of 29%, the 11th consecutive month of y/y growth.
- “Million-dollar markets” or those areas where the median sales price is at least $1 million are experiencing robust growth, with sales up in 83% of million-dollar single-family markets, and 100% of million-dollar condominium/townhome markets.
Download the April 2026 South Florida Housing Report HERE.
Contracts on homes $1 million or more rose 29% in April, the 11th consecutive year-over-year growth
South Florida’s housing market has been remarkably resilient, underpinned by strong demand in the million-dollar segment.
In April, sales contracts for million-dollar homes (pending sales) rose 28.9% from one year ago, outpacing the overall increase in sales contracts of 12.2%.
Sales contracts for single-family million-dollar homes rose a whopping 33.1% year-over-year, the 11th month of consecutive year-over-year growth, with phenomenal double-digit increases in most counties: Miami-Dade County ( (41.8%), Broward County (17.7%), Palm Beach County (43.4%), Martin County (11.4%), and St. Lucie County (-37.5%%).
Sales contracts for million-dollar condominiums/townhomes rose a strong 18.7% year-over-year, the 11th month of consecutive year-over-year increase. Sales increased from one year ago at a double-digit pace in most counties: Miami-Dade County ( (13.4%), Broward County (37.5%), Palm Beach County (21.3%), Martin County (-40.0%), and St. Lucie County (+100%).
Million-dollar sales continue to gain market share in South Florida. In Palm Beach County, closed sales of single-family million-dollar homes rose to 31%, followed by Broward Miami-Dade County at 28%, Broward County and Martin County each at 20%, and a still a modest share in St. Lucie County at 2%. Nationally, million-dollar sales account for less than 10% of sales.
Closed sales of homes $5 million to less than $10 million from January through April rose to an all-time high of 532 sales from 437 sales one year ago (+22%). Closed sales of $10 million and over homes also rose to an all-time high of 180 sales from 156 one year ago (+15%).
Over 80% of “million-dollar markets” saw robust sales growth from January-April 2026 compared to one year ago
The strong demand in the upper-tier segment is further borne by the robust growth in sales of “million-dollar “markets, or markets where the median sales price is at least $1 million in April 2026.
Over the period January-April 2026, there are 24 single-family “million-dollar markets” (with at least five sales), and a whopping 83% had more sales from January-April 2026 compared to one year ago, including the largest markets (over 50 sales) of Palm Beach Gardens (+15%), Boca Raton (+18%), Jupiter (+5%), Parkland (+5%), Coral Gables (+16%), Kendall (+11%), Doral (+29%), Palmetto Bay (+15%), Pinecrest (+19%), Palm Beach (+50%), Southwest Ranches (+90%), North Palm Beach (+25%), South Miami (+26%), Ojus (+22%), Sewall’s Point (+43%), Biscayne Park (+50%), Surfside (+80%), Key Biscayne (+33%), Loxahatchee Groves (+8%). In Jupiter Island, sales were unchanged (0%). However, sales decreased in Miami Beach (-5%), Lighthouse Point (-8%), Miami Shores (-15%), and Hallandale Beach (-31%).
In the condominium/townhomes market, all markets with a median sales price of $1 million or more saw higher sales in January-April 2026 compared to one year ago: Palm Beach Town (+49%), Highland Beach (+76%), Key Biscayne (+15%), Surfside (+36%), Lake Park (+115%), and Ocean Ridge (+80%).
Amid more challenging macroeconomic conditions, South Florida’s housing market remains resilient as the area continues to attract talent and wealth from high-tax states. Driver license exchanges data of out-of-state movers in 2026 Q1 were up 24% from one year ago, with double-digit increases in out-of-state license exchanges from New York (+17%), New Jersey (+20%, and California (+31%). See Miami Sees Double-Digit Spike in Domestic Migration; New York, California, and Texas Lead Inflows – MIAMI REALTORS®.
