October 2025: South Florida Luxury Real Estate Soars
Quick Summary
- Tri‑county residential sales volume reached $4.8B in October 2025, up 14% year over year
- Cash share expanded sharply; condo transactions in Miami were majority cash
- Global buyers drove nearly half of new/pre‑construction sales over 18 months
- Prices held near records, with single‑family and select condo medians advancing
- Inventory remained tight in top neighborhoods, sustaining a seller‑leaning market
South Florida’s luxury real estate market is surging. New construction condominiums and high-end homes across Miami-Dade, Broward, and Palm Beach counties showed remarkable strength in October 2025 compared to October 2024. Below are five data-driven insights demonstrating the market’s growth and momentum, critical trends for high-net-worth families considering a move to the Sunshine State:
1. Record-Breaking Sales Volume
South Florida’s total residential sales volume hit $4.8 billion in October 2025, a 14% jump from $4.2 billion in October 2024. All three counties saw more transactions than a year ago. Palm Beach led with a 13% surge in total sales (2,021 closings), while Miami-Dade and Broward each logged +7% more deals year-over-year. This broad-based growth marks an impressive rebound, signaling robust demand for new luxury condos and homes across the tri-county region.
2. Cash Buyers & Ultra-Luxury Boom
Affluent buyers are driving the market to new heights. All-cash sales spiked 17% year-over-year, with Miami now seeing 38.8% of all home sales paid in cash (versus ~29% nationwide). Notably, over half of Miami condo purchases were cash deals in October, a sign of deep investor confidence and insulation from high interest rates. High-end transactions are surging as well: Miami-Dade saw a 19.7% jump in $1M+ home sales (370 sales vs. 309 last year). South Florida is even on pace for 426 ultra-luxury sales above $10M in 2025, near the all-time high set in 2021. This flood of cash and luxury purchases underscores ongoing wealth migration into South Florida’s real estate market.
3. Global Demand Fuels New Construction
International buyers are pouring into South Florida’s new developments. In fact, nearly 50% of new construction and pre-construction sales over the past 18 months were to foreign buyers. Miami’s latest global report found purchasers from 73 different countries investing in our condos, a testament to the region’s worldwide appeal. From Latin American investors to European and Asian buyers, global interest is propelling new luxury condo towers (from Miami Beach to Fort Lauderdale and Palm Beach). This international influx is a key driver behind the rapid absorption of new inventory and the continued momentum in high-end condo sales. South Florida’s real estate has truly become a global asset class.
4. Resilient Prices & Strong Value Proposition
Home values in South Florida’s luxury sector remain exceptionally strong. Miami single-family homes hit a record median price of $682,000 in October (up ~2% year-over-year), while Palm Beach condos saw a +3% median price increase to $315,000. Even in segments with increased supply, e.g., Miami condos ($400K median, a modest 3.6% dip YoY), prices are holding near historic highs. Over the past decade, Miami condo values have doubled, and single-family prices have climbed ~157%, far outpacing national trends. Importantly, South Florida still offers unmatched value compared to other elite global cities. For example, $1 million buys ~58 m² of prime property in Miami, nearly four times more space than in Monaco (19 m²) and about 70% more than in New York or London (34 m²). This combination of long-term price appreciation and relative affordability underscores the strong value trajectory for luxury buyers in Miami and its surrounding areas.
5. Limited Inventory & Tax-Driven Migration Sustain Demand
Despite new construction, inventory remains balanced in favor of sellers. Active listings in Broward are up ~12% year-over-year, giving buyers more choice, but supply is still tight in top locations. The single-family home inventory is ~5.5 months (under the 6–9 month level of a balanced market). Desirable properties continue to move quickly: the median time from listing to contract is only about 50 days for Miami homes (just 7 weeks), and ~72 days for condos, meaning many luxury residences sell within 2–3 months of listing. Crucially, South Florida’s demand is bolstered by powerful migration and investment trends. Florida’s population has swelled to roughly 23.8 million (third largest in the U.S.) as wealthy families relocate from high-tax states. In early 2024 alone, South Florida saw thousands of new out-of-state driver license registrations, a 6% rise from pre-pandemic levels, reflecting this continued influx. The appeal is not just sunshine: Florida imposes no state income tax or estate tax, offering significant savings and wealth preservation for affluent residents. This tax-friendly environment, combined with South Florida’s lifestyle and business growth, is drawing high-net-worth individuals and ensuring resilient demand for the region’s luxury real estate well into the future.
FAQs
What is the single biggest change in October 2025 compared with last year?
Sales volume and cash participation both expanded. The region logged a 14% year‑over‑year jump to $4.8 billion in total residential volume, while all‑cash purchases rose 17%, led by Miami condos where a majority of deals closed without financing.
How fast are quality listings moving in the tri‑county market?
Median time from listing to contract was about 50 days for Miami single‑family homes and roughly 72 days for condos. Well‑positioned offerings in premier locations often trade inside those benchmarks when priced and presented correctly.
How do Miami prices compare with other global hubs?
Miami continues to look efficient for prime property. Approximately $1 million buys about 58 m² of top‑tier space in Miami, compared with roughly 34 m² in New York or London and 19 m² in Monaco, reinforcing the market’s relative value.
Which areas are most compelling for ocean access and family living?
For oceanfront ease and branded lifestyle, Miami-beach delivers. Yacht‑focused buyers prize Fort-lauderdale for marina infrastructure. For a refined village feel and proximity to clubs and schools, Palm-beach remains highly sought after.
Where should a buyer start if they want a branded, full‑service tower experience?
Shortlist newly delivered or pre‑construction addresses with proven operators. In urban Miami, St. Regis® Residences Brickell sets the tone for service and design. For oceanfront privacy and unique automotive amenities, Bentley Residences Sunny Isles is a standout choice. For curated advisory and access to new development across the tri‑county market, explore MILLION Luxury.
Million Luxury
Million Luxury
Welcome to MILLION, an exclusive luxury real estate boutique nestled in the heart of South Florida’s most desirable locations. Specializing in high-end properties, we provide a sanctuary for discerning clients including top Fortune 500 executives, affluent families, celebrities, and professional athletes from across the globe. At MILLION, we understand the unique demands of our elite clientele and offer a seamless blend of confidentiality and personalized attention. Our commitment to privacy is unwavering; we ensure that every transaction and interaction is handled with the utmost discretion and according to stringent confidentiality protocols. Our concierge service embodies the pinnacle of white-glove care, offering tailored assistance that transcends traditional real estate support.
