South Florida’s luxury housing market gained significant momentum in the second quarter of 2026, with high-end single-family and condominium transactions rising sharply across most major regions. Sales increased even as prices held firm, suggesting strong buyer demand and limited pressure on sellers to offer discounts. The gains were broad, though the Treasure Coast lagged.
Key takeaways
- Luxury single-family transactions rose 20.1% year over year to 8,013.
- High-end condominium sales increased 23.5% to 2,590.
- The average luxury single-family price climbed 7.2% to $2.63 million.
- The average condominium price edged up 0.3% to $2.37 million.
- Miami-Dade and Palm Beach led single-family growth, while Broward, Palm Beach and Southwest Florida drove condominium gains.
Miami-Dade and Palm Beach lead the rebound
Miami-Dade posted one of the strongest performances, with luxury single-family transactions jumping 32.5% year over year to 1,000. The average price rose 21.9% to $3.61 million. High-end condominium sales increased 11.2% to 607, while the average condo price gained 4.9% to $2.83 million.
Palm Beach County recorded 2,534 luxury single-family sales, up 24.2% from the prior year. Its average price increased 4.6% to $2.89 million. Condominium transactions rose 26.6% to 770, although the average condo price declined 7.1% to $2.39 million.
Broward and Southwest Florida post strong gains
Broward County’s $1 million-and-up single-family transactions increased 17.1% to 1,223, while the average sales price rose 3.7% to $2.06 million. Its luxury condominium market performed even better, with sales surging 27.8% to 285 and the average price climbing 5.6% to $1.94 million.
Southwest Florida recorded 2,880 luxury single-family transactions, an 18.6% annual increase. The average price reached $2.25 million, up 4.1%. Its condominium market continued to recover, with sales rising 33.7% to 869 and the average price increasing 6.4% to $2.1 million.
Treasure Coast bucks the regional trend
The Treasure Coast and Martin County had a quieter quarter. Luxury single-family transactions fell 6.5% to 376, though the average price rose 2.2% to $2.78 million. Condominium sales dropped 16.9%, accompanied by an 11.9% decline in the average price to $1.89 million.
Demand remains resilient
The Keyes Company and Illustrated Properties’ quarterly luxury report indicated that the sales surge did not depend on widespread price reductions. Christina Pappas, president of Keyes/Illustrated, said the leading buyer-origin states were New York, Illinois, Michigan, New Jersey and Ohio. California was absent from the top five for the second consecutive quarter, challenging claims that a new wave of California migration is the primary force behind the market.
Company CEO Mike Pappas said South Florida’s luxury segment continues to show resilience despite uneven national housing conditions. The firms expect economic and political uncertainty in other areas to support the region’s appeal among high-net-worth buyers seeking lifestyle benefits, stability and long-term value.