South Florida Luxury Real Estate Market – September 2025 Report
Quick Summary
- Dollar volume across Miami-Dade, Broward, and Palm Beach rose 13% year-over-year in September 2025 to $4.3 billion, with higher transaction counts in all three counties and tightening absorption at 4.2 months.
- Ultra-luxury ($10M+) sales are pacing just shy of the 2021 record, fueled by wealth migration, favorable tax policy, and confidence from cash-rich and international buyers.
- New construction condominiums continue to command attention alongside trophy waterfront single-family, with faster absorption and limited truly prime inventory in Miami Beach, Brickell, Sunny Isles Beach, Fort Lauderdale, Boca Raton, Palm Beach, and Bay Harbor Islands.
- Pricing remains firm to rising at the top end; Miami’s prime property still offers compelling value relative to global peers, supporting sustained demand from domestic and international buyers.
- Strategy: pre-approve or prepare proof of funds, move early on best floor plans and lines, and use data-led negotiations; for sellers, lean into professional staging, pre-list inspections, and launch timing aligned with Q4 travel patterns.
September 2025 Market Snapshot (Data Recap)
September 2025 saw significant growth in South Florida’s ultra-luxury real estate sector, particularly in new construction condominiums and high-end homes.
- Sales Surge in September: South Florida’s residential market rallied in September 2025, reversing months of slowdown. Total dollar volume across Miami-Dade, Broward, and Palm Beach counties jumped 13% year-over-year to $4.3 billion. All three counties saw higher transaction counts; for example, Palm Beach County recorded 1,980 closings (a 22% YoY increase) in September. This robust growth underscores strong demand, especially considering official stats don’t even include most new construction sales, meaning the real total market activity was even higher.
- Ultra-Luxury Deals Near Record Levels: The ultra-luxury segment ($10M+ properties) is on pace for a banner year. Through the first nine months of 2025, South Florida notched 262 home sales over $10 million, and projections show about 426 ultra-luxury transactions by year-end, just shy of the all-time record (444 sales in 2021). This torrid pace at the very top end of the market reflects unprecedented demand. As the Chairman of the Miami Association of Realtors noted, “Miami is where ultra-high-net-worth individuals want to live,” drawn by factors like no state income tax and a business-friendly climate. The result is a thriving ultra-luxury market setting near-record sales volumes.
- Inflow of Wealthy Residents Fuels Demand: An ongoing migration of wealthy families and high-net-worth individuals to South Florida is bolstering the luxury real estate boom. Recent IRS data shows Florida gained more high-earning new residents (by net adjusted gross income) than any other state. In fact, Florida added nearly 30,000 high-income households in a recent year – the #1 gain in the U.S. Miami in particular has become a “millionaire magnet”: the Miami metro’s millionaire population nearly doubled in the last decade (+94% from 2014 to 2024), reaching roughly 39,000 millionaires today. This influx of affluent buyers (many seeking primary or second homes in Miami’s sun-soaked, tax-friendly environment) is a key driver of the surging luxury housing demand.
- Cash Purchases and Global Investors Drive New Construction: South Florida’s luxury market is bolstered by cash-rich and international buyers, indicating deep confidence in the market. In early 2025, roughly 43% of all Miami home sales were all-cash deals – a rate far above the U.S. average – highlighting that many buyers (often ultra-wealthy or institutional investors) have ample liquidity. International investment is also a major factor: a first-ever survey of new development sales found that foreign buyers purchased 49% of new construction condo units in South Florida over an 18-month period (ending June 2025). This strong global demand for new ultra-luxury condos underpins many current projects and signals worldwide confidence in Miami and South Florida as prime real estate markets.
- Accelerated Inventory Absorption: Absorption rate climbed to 4.2 months in September 2025, down from 5.1 months in August 2025 and 6.3 months in September 2024. With 320 new ultra-luxury units launched (up 10% YoY), the market is absorbing inventory faster, signaling robust growth for family-oriented relocations.
- Rising Values and Global Appeal: Luxury property values remain on a strong upward trajectory in South Florida. Miami condominium prices have more than doubled in the past decade – up 108% from 2015 to 2025 – thanks to sustained demand and wealth migration. Even in the past year, prices in the high-end segment have risen: the median sales price for Miami luxury condos in Q3 2025 was about $1.8 million, up 4.3% year-over-year. Importantly, Miami’s luxury real estate still offers relative value on the world stage. According to the 2025 Knight Frank Wealth Report, $1 million USD buys ~58 square meters of prime property in Miami, nearly 4x the space that $1M buys in Monaco (19 m²) and about 70% more than in New York or London (34 m²). This combination of rising local values and better bang-for-buck versus other global cities continues to attract wealthy buyers and investors from around the world.
Each of these data points showcases a strengthening ultra-luxury real estate market in South Florida. Record-setting sales, a wave of wealthy newcomers, high levels of cash and foreign investment, and steadily rising values all contribute to a climate of confidence. Investors can take heart that the South Florida luxury new construction market is not only robust today, but positioned for continued growth moving forward.
What’s Driving Demand Now
Wealth migration and tax efficiency. Florida’s well-established advantages—no state income tax, a business-friendly environment, first-class airports, and year-round outdoor lifestyle—continue to draw high-earning households. This migration has materially changed the buyer mix across Miami, Miami Beach, and Brickell, and it has expanded northward into Fort Lauderdale, Boca Raton, Palm Beach, and Bay Harbor Islands, supporting deeper demand across both vertical and single-family product.
Liquidity from cash buyers. With roughly two out of five Miami transactions closing in cash, sellers of best-in-class properties maintain leverage. Buyers who can document funds early and close quickly often beat financed offers, particularly on rare waterfront or penthouse inventory in areas like Sunny Isles Beach and Miami Beach.
International confidence and diversification. A nearly even split of domestic and international demand in new construction helps stabilize absorption through seasonal cycles. For global buyers, South Florida remains a compelling portfolio diversification play with lifestyle utility—ocean access, yachting, fine dining, art and culture—alongside a strong rental backdrop in select buildings.
Relative global value. Despite a decade of appreciation, Miami’s prime values remain meaningfully below those of Monaco, London, and New York. That delta continues to funnel capital into South Florida’s luxury condominiums and bayfront estates.
Neighborhoods & Product Types to Watch
Miami Beach. Trophy oceanfront and boutique, wellness-forward buildings see outsize demand thanks to direct sand access, privacy, and concierge service. For an overview of current opportunities and insights, explore our guide to Miami Beach.
Brickell. Brickell’s live-work-play core remains a magnet for finance and tech relocations. Pedestrian convenience, skyline views, and branded-service residences lead pricing; inventory in the most desirable lines can move within days. Review our latest market notes for Brickell.
Sunny Isles Beach. A long-established corridor for branded towers and true beachfront living, Sunny Isles Beach continues to attract international families prioritizing resort amenities, schools, and beach access.
Fort Lauderdale. Along Las Olas and the Intracoastal, marina-oriented condominiums and townhomes appeal to yacht owners seeking dockage and quicker airport access. See our neighborhood coverage for Fort Lauderdale.
Palm Beach & Boca Raton. Elegance meets convenience—country clubs, intimate downtowns, and direct Intracoastal frontage keep inventory tight. For a broader view, reference our snapshot of Palm Beach and recent activity in Boca Raton.
Bay Harbor Islands. Low-scale, waterfront living with proximity to Bal Harbour Shops and top-ranked schools remains undersupplied; boutique buildings with boat slips and rooftop amenities see swift absorption.
Product themes. New construction condominiums with wellness suites, private clubs, and deep amenity stacks are commanding premiums; at the same time, turnkey waterfront single-family with new docks, elevation, and generator packages are trading rapidly. Buyers are prioritizing views (ocean, bay, or skyline), private marina access, pet-friendly policies, and family-friendly floor plans with dens and club rooms.
Strategy: How to Operate in a 4.2‑Month Market
For buyers
- Be operationally ready. Proof of funds and attorney/realtor alignment before touring enables swift offers when the right line or lot appears. On pre-construction, understand deposit schedules (commonly staged across contract, groundbreaking, top-off, and closing) and any incentives for early tiers.
- Prioritize irreplaceable attributes. Direct ocean frontage, corner lines with unobstructed vistas, deeded docks, and protected water views tend to outperform in all cycles across Miami, Miami Beach, and Sunny Isles Beach.
- Model total cost of ownership. Include property taxes, HOA, capital calls, club dues (if applicable), insurance, and potential rental income or use restrictions. Ask specifically about pet rules, lease minimums, and developer reserves.
- Negotiate where leverage exists. In buildings with multiple comparable lines available, seek closing cost credits, pre-paid HOA periods, or storage and parking add-ons; in single-family, due diligence and inspection remedies can be as valuable as price.
For sellers
- Presentation is paramount. Today’s buyer expects crisp staging, pre-list inspection reports, complete condo docs, and high-production video. Elevate photography at golden-hour and emphasize unique features—deep terraces, summer kitchens, plunge pools, and bay views.
- Price to the moment. With absorption at 4.2 months and strong cash liquidity, properties positioned at or just below the most recent comp can generate multi-bid dynamics. Overpricing elongates days on market and weakens negotiating power.
- Time the launch. Consider travel calendars and event seasonality: Art Basel lead-in, winter high season, and school calendars—all meaningful for South Florida’s affluent buyer base.
Risk radar and offsets. Rising insurance premiums and HOA assessments are top-of-mind. Mitigate by favoring buildings with robust reserves, recent engineering reports, completed 40/50-year recertifications, updated life-safety systems, and proactive capital planning; in single-family, prioritize new roofs, impact glazing, and elevation.
Why the momentum is durable. South Florida marries lifestyle and capital efficiency. The mix of finance, tech, and creative-class relocations, plus international diversification and relative global value, points to continued depth of demand across Miami, Brickell, Fort Lauderdale, Boca Raton, Palm Beach, Miami Beach, Sunny Isles Beach, and Bay Harbor Islands.
As always, our private-client advisory team can provide line-by-line, stack-by-stack analysis and off-market access across the most coveted addresses. For bespoke guidance, connect via Million Luxury.
FAQs
What price points define “luxury” and “ultra-luxury” in South Florida right now? In 2025, “luxury” commonly refers to the top 10% of closed sales within a submarket, which in Miami often begins around the $1.5–$2 million threshold for condominiums and higher for waterfront homes. “Ultra-luxury” typically starts at $10 million. Local cutoffs vary by area and product.
How should I compare pre‑construction vs. move‑in‑ready? Pre‑construction offers first‑access to best lines, modern specs, and a phased deposit schedule, with potential value creation through the cycle. Move‑in‑ready delivers immediate use and certainty on views and finishes. The right path depends on timing, liquidity, and whether you prize selection or immediacy.
What does a 4.2‑month absorption rate mean for negotiations? A balanced market is often cited around 6 months of supply; at 4.2 months, conditions favor sellers in the best buildings and locations. Buyers still find leverage in buildings or submarkets with multiple similar options or longer days on market.
Are cash offers still critical? Yes—especially for coveted oceanfront or trophy properties. Cash can shorten timelines and reduce risk for sellers. If financing, aim for strong pre‑approval, limited contingencies, and flexible closing terms.
Which neighborhoods are best for families seeking schools and amenities? Bay Harbor Islands, Boca Raton, and parts of Palm Beach offer excellent proximity to top schools, parks, and family‑friendly amenities. In Miami, select enclaves of Miami Beach and Sunny Isles Beach also align well for year‑round living.
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.
