By Gay Cororaton, MIAMI REALTORS + RWorld Chief Economist
Key Takeaways
- South Florida’s single-family luxury (top 5% of sales) price threshold rose to 3.3 million and the ultra-luxury (top 1% of sales) to $10.7 M in the first half of 2026, with the highest ultra-luxury threshold in Miami-Dade at $15 million.
- South Florida’s condominium luxury price threshold rose to $2.3 M and ultra-luxury to $6.0 M in the first half of 2026, with the highest ultra-luxury threshold in Miami-Dade at $10 million.
- Out-of-state buyers had a higher luxury (top 5% of sales) price thresholds compared to Florida resident buyers led by California buyers with a single-family luxury sales price threshold at $8.5 million and a condominium luxury sales price threshold of $3.7 million.
Download the 2026 Q2 South Florida Luxury Market Report HERE.
South Florida single-family luxury price rose to $3.3 M and ultra-luxury to $10.7 M as of June 2026
South Florida’s luxury price threshold continued to ascend in the first half of 2026 due to a booming luxury market amid a resurgence in out-of-state migration from high-tax states, robust job growth in the higher-paying professional and business service industry, and an enhanced stature as a global metropolis, being a 2026 FIFA host city. South Florida Million-Dollar Sales Surge Year over Year – MIAMI REALTORS® + RWorld
In the first half of 2026, the luxury (top 5% of sales) sales price threshold in South Florida’s five counties rose to $3.3 million from $2.7 million in 2025. Palm Beach County ($4.4 million), Miami-Dade County ($4.3 million), and Martin County ($3.9 million) had the highest luxury price thresholds.
The ultra luxury (top 1% of sales) sales price threshold jumped to $10.7 million from $7.8 million in 2025. The ultra-luxury threshold was over $10 million in Miami-Dade County ($15.0 million), Palm Beach County ($14 million), and Martin County ($10.5 million).
South Florida condominium luxury price rose to $2.3 M and ultra-luxury to $6.0 M as of June 2026
In the condominium segment, South Florida’s luxury price threshold rose to $2.3 million from $2.0 million in 2025. The condo luxury (top 5% of sales) sales price threshold hit over $1.0 million in Miami-Dade County ($3.4 million), Palm Beach County ($2.4 million), and Martin County ($1.1 million).
The ultra luxury (top 1% of sales) sales price threshold climbed to $6.0 million from $5.4 million in 2025, led by Miami-Dade County ($10 million), Palm Beach County ($5.4 million), and Broward County ($2.8 million).
More out-of-state buyers who purchased more high-end luxury properties
South Florida saw more out-of-state buyers in 2026, based on sales for which the buyer’s state was reported. In the first half of 2026, out-of-state buyers accounted for 10% of domestic buyers (Florida residents and out-of-state buyers), up from 7% in 2024 and 2025.The top five out-of-state buyers in the first half of 2026 were New York (34%), New Jersey (13%), California (8%), Illinois (5%), and Massachusetts (5%). The share of out-of-state buyers has increased amid potential higher taxes on wealth, income, and businesses in California and New York.
In the first half of 2026, the single-family luxury (top 5%) sales price thresholds of out-of-state buyers were higher than among Florida resident buyers ($2.4 million) among buyers from California ($8.5 million), New York ($5.9 million), Illinois ($4.0 million), and Massachusetts ($3.3 million).
In the condominium segment, the luxury (top 5%) sales price thresholds of out-of-state buyers were higher than among Florida resident buyers ($1.6 million) among buyers from California ($3.7 million), Illinois ($2.8), New York ($2.8 million), and New Jersey ($2.8 million).
