South Florida’s ultra-luxury housing market is setting a record pace, even as broader home sales soften. By the end of August 2026, Miami-Dade had logged 194 sales priced at $10 million or more, while Palm Beach County had already surpassed its previous annual record. The surge contrasts with weaker overall sales in both counties.
Key takeaways
The figures point to strong demand at the top end of the market, but not a broad-based housing boom.
- Miami-Dade is on pace for a projected 291 sales of $10 million-plus homes this year, above its 2021 record of 230.
- Palm Beach County recorded 170 such sales through August, edging past its prior annual high of 169, set in 2025.
- Broward’s million-dollar-and-up sales rose even as its overall home sales declined.
Miami-Dade’s record pace
Miami-Dade had recorded 194 home sales at or above $10 million by the end of August—already more than the 170 for all of 2025. If that pace holds through December, the county could reach 291 sales, well beyond the pandemic-era record set in 2021.
The most expensive tier is expanding particularly quickly. Analytics Miami reported that sales of single-family homes priced at $30 million or more in Miami-Dade increased 110% in the first half of 2026 compared with the same period a year earlier. Founder Ana Bozovic said transactions at that price point were rare in the county before the pandemic.
Palm Beach County passes its mark
Palm Beach County had counted 170 sales of homes priced at $10 million or more through August, surpassing the previous full-year record of 169. High-priced properties in communities including Manalapan have drawn attention as wealthy buyers compete for homes in the county.
Real estate professionals cited in the report point to migration from states with higher taxes and Florida’s business climate as factors bringing wealth to the region. Luxury agent Dina Goldentayer described the strong market as potentially becoming a lasting feature of Miami-Dade real estate.
Broader sales tell a different story
The record-setting activity is concentrated at the upper end. Miami-Dade’s total home sales in August were down 1.1% from August 2025. In Broward County, total sales fell 4.5% year over year, while sales of homes priced at $1 million or more climbed 22.6%.
That divergence suggests affluent buyers are sustaining demand for high-end properties while the wider market faces softer activity. Broward’s luxury surge is more modest than the $10 million-plus gains in Miami-Dade and Palm Beach, but its million-dollar segment is still outperforming the county’s overall market.
- $10M+ home sales surge in Miami-Dade, Palm Beach counties, Miami Herald.