Illustrated Properties Luxury Report

SOUTH FLORIDA REGIONAL MIAMI DADE | BROWARD | PALM BEACH | MARTIN | ST. LUCIE

South Florida is considered the metro area of the state extending from Palm Beach County to Miami-Dade County. The area radiates balmy temperatures and a luxury lifestyle, mixed with Latin and Caribbean cultures. The approximate 100 miles along the coast is home to roughly 5.4 million residents. If you are dreaming of a big-city getaway in Miami, a laid-back fishing trip off the coast of Fort Lauderdale, or an indulgent splurge in the Palm Beaches, you’ll find perfect weather all year- round. South Florida is home to a multitude of restaurants and entertainment options to experience including the historical Worth Avenue, Downtown City Place, Atlantic Avenue, Fort Lauderdale Beach, South Beach, and the Seminole Hard Rock Hotel & Casino.

Single Family Homes

% Change (1 Year)

% Change (1 Quarter)

SINGLE FAMILY HOMES

2024 Q2

2025 Q1

2025 Q2

Number of Sales

3538

2632

3151

▼10.9%

▲19.7%

Average Sales Price

$2,666,480

$2,933,839

$2,913,294

▲9.3%

▼0.7%

Median Sales Price

$1,612,500

$1,650,000

$1,683,000

▲4.4%

▲2.0%

Average Square Footage

3,380

3,468

3,445

▲1.9%

▼0.7%

Price Per Square Foot

$726

$765

$765

▲5.4%

▲0.0%

Average DOM

102

110

106

▲3.3%

▼3.9%

Sales Sold at Original List Price

320

205

225

▼29.7%

▲9.8%

Top Sale Price

$62,500,000

$50,500,000

$74,250,000

▲18.8%

▲47.0%

Total Sale Volume

$9,434,005,937

$7,721,865,554 $9,179,788,545 ▼2.7%

▲18.9%

Condos & Townhomes

% Change (1 Year)

% Change (1 Quarter)

CONDOS/TOWNHOMES

2024 Q2

2025 Q1

2025 Q2

Number of Sales

1386

1124

1209

▼12.8%

▲7.6%

Average Sales Price

$2,419,355

$2,504,677

$2,536,680

▲4.8%

▲1.3%

Median Sales Price

$1,675,000

$1,777,500

$1,725,000

▲3.0%

▼3.0%

Average Square Footage

2,317

2,317

2,383

▲2.9%

▲2.8%

Price Per Square Foot

$1,016

$1,046

$1,034

▲1.8%

▼1.1%

Average DOM

129

123

134

▲3.9%

▲9.1%

Sales Sold at Original List Price

109

165

75

▼31.2%

▼54.5%

Top Sale Price

$37,000,000

$29,000,000

$28,641,500

▼22.6%

▼1.2%

Total Sale Volume

$3,353,226,432

$2,815,256,610 $3,066,845,965 ▼8.5%

▲8.9%

Top 5 States for Incoming Buyers NEW YORK |OHIO | NEW JERSEY | ILLINOIS | MASSACHUSETTS

LUXURY REPORT

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