By Gay Cororaton, MIAMI REALTORS Chief Economist
Key Takeaways
- Luxury (top 5%) and ultra-luxury (top 1%) price thresholds rose in 2026 Q1 in Miami-Dade, Broward County, and Palm Beach County. In Miami-Dade County, the single-family luxury threshold rose to $4.1 million while the ultra-luxury threshold rose to $13.6 million.
- Facebook’s Mark Zuckerberg, Google’s Sergey Brin, Starbuck’s Howard Shultz and several business leaders and CEOs made the priciest and record-breaking purchases in 2026 Q1.
- Among South Florida’s top out-of-state buyer origins, Texas had the highest luxury price threshold for single-family homes at $10.8 million and the second highest luxury price threshold at $4.0 million for condos/coops/townhomes.
Download the 2026 Q1 South Florida Luxury Market Report HERE.
Miami-Dade County single-family luxury price in 2026 Q1: $4.1 million; ultra-luxury $13.6 million
The first quarter of 2026 was notable for its record-breaking deals but more so for the highly prominent buyers behind those deals that reflect the acceleration of wealth and talent migration into South Florida from high tax states.
In Miami-Dade County, the single-family luxury (top 5%) price rose to $4.1 million in 2026 Q1 ($3.2 million in 2025) while the ultra-luxury (top 1%) threshold rose to $13.6 million ($10.4 million in 2025).
Mark Zuckerberg’s $170 million purchase in Indian Creek, known as the Billionaire Bunker, made the largest single-family transaction that broker South Florida’s all-time sales records. It topped Citadel’s Ken Griffin’s $107 million purchase of a property in Coconut Grove in 2022 and Google co-founder Larry Page’s $101 million purchase of a property also in Coconut Grove in 2025, although he also purchased another property there, for a combined purchase of $173.4 million.
Google founder Sergey Brin made the second largest transaction was a $51 million purchase by of a property in Miami Beach’s Allison Island.
In the condominium market, former Starbucks CEO Howard Shultz made the second largest condominium transaction in Miami-Dade and all of South Florida in 2026 Q1 with a $44 million purchase of a Surf Club Four Seasons penthouse.
Broward County single-family luxury sales price threshold rose to $2.3 million and ultra luxury to $6.2 million in 2026 Q1
In Broward County, the single-family luxury (top 5%) price threshold rose to $2.3 million in 2026 Q1 ($2.0 million in 2025) while the ultra-luxury (top 1%) threshold rose to $6.2 million ($4.8 million in 2025).
Hillsboro Beach had the highest single-family luxury price threshold in 2026 Q1 at $36.5 million.
New Jersey homebuilder Morris Flancbaum made the largest single-family luxury transaction at $36.5 million or a property in Hillsboro Beach which broke records for this area.
Auto dealer Craig Zinn made the second largest purchase at $26.8 million for a property also on Hillsboro Beach.
John C. Spyksma, CEO of Ramona Commodities which is a California-based company active in commodities trading, made the third purchase for a $24 million property in Fort Lauderdale’s Las Olas Isles.
Palm Beach County single-family luxury sales price threshold rose to $4.4 million and ultra luxury to $13.5 million in 2026 Q1
In Palm Beach County, the single-family luxury (top 5%) price rose to $4.4 million in 2026 Q1 ($3.5 million in 2025) while the ultra-luxury (top 1%) threshold rose to $6.2 million ($4.8 million in 2025).
The town of Manalapan had the highest single-family luxury price threshold in 2026 Q1 at $68.5 million.
Garbage-and-recycling tycoon Anthony Lomangino made the largest purchase for $76.3 million of the iconic and landmarked ocean front property Villa Flora.
An unidentified buyer made the second largest purchase of $72 million for a one-acre property on 1460 N Lake Way in Palm Beach.
David MacNeil, the WeatherTech founder and CEO, who President Trump nominated earlier this year to the Federal Trade Commission, had the third priciest transaction at $68.3 million for a luxury waterfront property on 1940 S. Ocean Boulevard in Manalapan.
Out-of-state buyers purchased pricier luxury properties than in-state buyer
In 2025, out-of-state buyers purchased pricier luxury properties than in-state buyers.
Among South Florida’s top out-of-state movers, buyers from Texas had the highest luxury price threshold for single-family homes at $10.8 million and the second highest luxury price threshold at $4.0 million for condos/coops/townhomes.
Among New Yorkers who make up a third of South Florida’s out-of-state buyers, the luxury (top 5% of sales) threshold for single-family homes was $5.0 million and $2 million for condos/coops/townhomes.
In comparison, the luxury price threshold of buyers with a Florida residence was $2.3 million for single-family homes and $1.6 million for condos/coops/townhomes.
Governor Hochul and Mayor Mamdani have proposed an annual surcharge on homes valued above $5 million owned by individuals who live outside the city (pied-a-terre units). While each vacation getaway offers a unique experience, homeowners who give up their New York second home and who enjoy a coastal vacation getaway could opt to purchase a South Florida property.
