Above, Christina Pappas, left and Mike Pappas
South Florida’s luxury market experienced 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.
According to the report, 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 saw a 13.3% year-over-year jump in transactions to 1,561. All territories 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.
The report revealed that 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 posting 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,” Keyes/Illustrated President Christina Pappas said. “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.”
Breaking down key findings, the luxury report found that each of the examined counties experienced growth on an annual basis:
Miami-Dade County’s luxury single-family transactions jumped 20.6% year-over-year to 850, with the average sales price concurrently rising 13.2% to $3.29 million. Its high-end condo sector also saw a year-over-year $1 million-and-up transactions gain during the third quarter (6.5% year-over-year to 477 sales), with the average sales price dropping by 4.5% year-over-year to $2.74 million.
Broward County’s luxury single-family market had a 22.6% year-over-year surge in $1 million-and-up sales in the third quarter to 1,114, and a 4.0% year-over-year gain in average sales price to $2.01 million. The county’s high-end condo sector saw an 11.2% year-over-year drop in total transactions (183). Broward’s average luxury condo sales price rose by 21.6% year-over-year 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% to $2.69 million during that span. The county’s luxury condominium market had a 7.3% year-over-year uptick in transactions to 396, as its average sales price rose by 9.7% to $2.43 million.
The Treasure Coast/Martin County luxury residential market kept up with the activity experienced by its neighboring territories during the third quarter of 2026. On the high-end single-family side, total transactions rose by 15.2% year-over-year to 288, while the average single-family sales price slipped by 1.6% year-over-year to $2.53 million. Luxury condominium sales fell 21.1% year-over-year, with the average sales price increasing by 3.0% to $1.69 million.
Southwest Florida had a significant 15.6% year-over-year jump in luxury single-family sales to 2,174. The region’s average single-family sales price rose 13.6% to $2.26 million. The region’s high-end condo sector continued its surge during the third quarter of 2026, with total transactions gaining 45.8% year-over-year to 490. The average sales price increased 29.9% year-over-year to $2.55 million.
“As strong as the South Florida luxury sector currently is, the future is what makes market observers the most excited,” Keyes/Illustrated CEO Mike Pappas stated. “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.
