Slowed but Steady, South Florida’s Luxury-home Market is Still a Magnet for Wealthy Buyers
Residential Rajkumar Ramkerath October 31, 2024
Residential Rajkumar Ramkerath October 31, 2024
South Florida's luxury real estate market remains attractive, with home sales and prices rising in the third quarter compared to last year. There were 137 luxury sales across six markets, with prices up 9.6%. Palm Beach saw a rise in active listings, while Miami Beach experienced faster sales despite a decline in overall condo and single-family sales. The median price for single-family homes in Palm Beach was $9.3 million, down 35.3% from last year. Overall, the Miami market softened, particularly in condos, but prices continued to rise due to demand for new developments.
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