A message from Mike Pappas
South Florida’s luxury market operates in its own plane of existence. While the broader real estate industry and economy are impacted by numerous converging factors, our region’s high-end single-family and condominium sectors experienced significant year-over-year gains in both transactions and average sales price during the third quarter of 2026. Across Miami-Dade, Broward, Palm Beach, the Treasure Coast, and Southwest Florida, luxury single-family sales surged 19.1% year-over-year to 6,409 in the third quarter of 2026. The high- end condominium sector enjoyed a 13.3% year-over-year jump in transactions to 1,561. All territories tracked in our quarterly report recorded year-over-year increases in single-family sales. On the condo side, Miami-Dade and Palm Beach counties joined Southwest Florida in driving the year-over-year transaction gains. Buyers again showed a willingness to pay premiums for South Florida high-end homes and condos. The region’s average single- family sales price rose 11.6% year-over-year to $2.5 million. The average condo sales price had a strong 10.1% year-over-year increase to $2.52 million, with Broward and Palm Beach counties and Southwest Florida posted substantial pricing gains. This steady strength shows that South Florida’s high-end housing market has largely withstood economic pressures and international turmoil. As we close out 2026, continued global uncertainty will only enhance the region’s draw, attracting affluent buyers in search of the compelling combination of lifestyle, security, and lasting value appreciation.
CEO Illustrated Properties Mike Pappas
LUXURY REPORT
IPRE.COM
Made with FlippingBook - professional solution for displaying marketing and sales documents online