Both high-end single-family and condominium sectors enjoy substantial year-over-year gains
South Florida's luxury market saw significant year-over-year gains in both transactions and average sales price during the third quarter of 2026, according to The Keyes Company and Illustrated Properties' latest Luxury Market Report. The high-end single-family and condominium sectors each posted significant increases in sales activity and pricing.
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, reaching 1,561.
Every territory tracked in the 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 posted a strong 10.1% year-over-year increase to $2.52 million, with Broward and Palm Beach counties and Southwest Florida recording substantial pricing gains.
"While the global economy and many U.S. housing markets grapple with major challenges, South Florida's luxury market continues to defy broader trends," said Keyes/Illustrated President Christina Pappas. "The collective gains across high-end single-family and condominium markets across our region represent an improvement over recent quarters, where pricing in some instances was flat or slightly down year-over-year. We are now seeing sales activity and pricing increase in lockstep."
Other key findings in the third-quarter luxury report include:
- Miami-Dade County's luxury single-family transactions jumped 20.6% year-over-year to 850, with the average sales price rising 13.2% to $3.29 million. Its high-end condo sector rose 6.5% year-over-year to 477 transactions, while the average sales price dropped 4.5% to $2.74 million.
- Broward County's luxury single-family market posted a 22.6% year-over-year jump in $1 million-and-up sales to 1,114, with the average sales price up 4.0% to $2.01 million. The county's high-end condo sector saw an 11.2% year-over-year drop in transactions to 183, while the average sales price rose 21.6% to $2.13 million.
- Palm Beach County's high-end single-family sales jumped 21.0% year-over-year to 1,983, with the average sales price gaining 14.0% to $2.69 million. The county's luxury condominium market rose 7.3% year-over-year to 396 transactions, as its average sales price rose 9.7% to $2.43 million.
- The Treasure Coast/Martin County luxury residential market kept pace with its neighboring territories, with single-family transactions up 15.2% year-over-year to 288, while the average sales price slipped 1.6% to $2.53 million. Luxury condominium sales fell 21.1% year-over-year, with the average sales price increasing 3.0% to $1.69 million.
- Southwest Florida posted a 15.6% year-over-year jump in luxury single-family sales to 2,174, with the average sales price rising 13.6% to $2.26 million. Its high-end condo sector continued its surge, with total transactions climbing 45.8% year-over-year to 490 and the average sales price gaining 29.9% to $2.55 million.
"As strong as the South Florida luxury sector currently is, the future is what makes market observers the most excited," said Keyes/Illustrated CEO Mike Pappas. "Our region is still maturing, which creates even more potential for growth. The billions of dollars being invested now by Ken Griffin and other ultra-wealthy individuals across South Florida will drive unprecedented growth for generations to come."
The complete third-quarter luxury report can be found here: http://keyesluxuryreport.com/
