Broward County’s $1M+ Condominium Sales Surge: A Comprehensive Overview

Overview of Broward County’s Real Estate Market

Broward County’s real estate market refuses to slow down, particularly in the high-end condominium segment. As of June 2025, sales of condominiums priced at $1 million and above have skyrocketed, exhibiting a remarkable 137% increase compared to pre-pandemic figures from June 2019. This rise has notably shifted from 19 sales in June 2019 to 45 sales in June 2025.

Key Insights from the Recent Data

• Total Condominium Sales: The overall existing condominium sales underwent a 14.9% decrease year-over-year, dropping from 1,068 to 908 transactions. However, the luxury market segment remains resilient.
• Median Prices: Although the existing condo median price dipped by 6.1%, from $287,500 to $269,950, the high-end market (condos priced over $1M) continues to thrive.
• Single-family Home Prices: Similarly, single-family home prices fell by 1.6%, declining from $640,000 to $629,950.

"Broward County and Fort Lauderdale real estate are enriched by their strategic location between two rapidly growing counties, creating an unparalleled value proposition," said Larry Singh, 2025 Broward-MIAMI President.

The 2025 Broward-MIAMI Statistical Report

Upcoming Insights: New Construction Data Report

On July 28, 2025, the MIAMI REALTORS® will unveil a groundbreaking report focused on new condominium sales, addressing a significant gap in data about international buyer activity in South Florida. This collaborative effort draws insights from leading developers and brokerages within the region.

The Impact of Inventory and Market Trends

One of the primary factors affecting Broward County’s real estate market is the inventory levels. By the end of June 2025, the overall active listings surged by 32%, with 17,583 units available, although condo inventory still remains below pre-pandemic levels.

Monthly Supply Overview

• Single-family homes: 6-month supply (balanced market)
• Existing condominiums: 12.3-month supply (buyer’s market)

Economic Impact of Real Estate Sales

Every real estate transaction contributes significantly to the local economy. A typical home sale generates approximately $129,000 in economic activity. With 1,938 homes sold in June 2025, Broward County experienced an economic impact of around $250 million.

Home Equity Trends in South Florida

Home equity in Miami has demonstrated remarkable resilience, with gains nearly doubling the national figures. For instance, homeowners who purchased a single-family home in Q4 2009 and sold it in Q4 2024 saw equity gains of $555,900, compared to the U.S. average of $306,600.

Wealth Disparity: Homeowners vs. Renters

The increasing wealth gap between homeowners and renters is noteworthy:

• Homeowners’ median net worth by 2025: $430,000
• Renters’ median net worth: $10,000

Legislative Support for Affordable Housing

The Live Local Act, enacted in 2023 and amended in May 2024, incentivizes developers to include affordable housing in their projects. Under this act, developers can access higher density allowances if they designate 40% of their units for affordable housing.

Challenges Facing the Market

While the $1M+ condo market thrives, several challenges persist across the broader Broward market:

• 12.1% decrease in total sales: from 2,206 to 1,938 year-over-year.
• Mortgage rate impacts: Elevated mortgage rates are hindering many potential buyers, particularly first-time homeowners.

Key Factors Affecting Sales Activity

• Lack of affordable financing options for existing condominiums limits market growth.
• Economic uncertainties, including volatile stock markets, are pushing hesitant buyers to the sidelines.

"Once mortgage rates trend lower, we anticipate a spike in sales activity, especially in the luxury segment," added Gay Cororaton, MIAMI REALTORS® Chief Economist.

Conclusion: A Bright Future for High-end Condos

As Broward County continues to navigate its current real estate landscape, the segment for condominiums priced over $1 million stands out as a beacon of growth and resilience. Future developments, market adjustments, and legislative support will play critical roles in shaping this dynamic market.

For more details about Broward County’s real estate statistics, click here.

This recap presents a clear and engaging structure, incorporating essential data and insights to showcase Broward County’s thriving real estate market, specifically the segment of million-dollar condominiums.