South Florida's luxury market enjoyed a major uptick in transaction activity across both the single-family and condominium sectors during the first quarter of 2026, according to The Keyes Company and Illustrated Properties' latest Luxury Market Report. The surge in closed transactions signals that high-end buyers are engaging with confidence, and sellers understand current market dynamics well enough to price, and negotiate, in a way that gets deals done.
Across Miami-Dade, Broward, Palm Beach, the Treasure Coast, and Southwest Florida, the volume gains were not driven by panic pricing or fire-sale conditions. Days on market held relatively steady year-over-year, suggesting that both sides have recalibrated their expectations to a point where transactions are clearing at a pace that hasn't been seen in recent memory for the region's $1 million-and-up category.
High-end pricing continued positive year-over-year trends thanks to consistent buyer demand. The region's average single-family sales price rose 3.3% year-over-year to $2.57 million. The average condo sales price showed a modest 3.5% year-over-year dip to $2.3 million, though that headline number reflects a broader mix of markets rather than weakness at the top. Miami-Dade and Broward both posted notable condo pricing gains, and the overall figure was pulled down in part by higher transaction volumes in more moderately priced luxury corridors like Southwest Florida.
"The local luxury market is defined by resilience and a refreshing alignment between buyers and sellers in the first quarter of 2026," Keyes President Christina Pappas said. "The appetite for high-end South Florida single-family homes and condominiums remains robust, and broader economic uncertainty is only sharpening the region's appeal for high-net-worth individuals seeking lifestyle, stability, and long-term value."
Other key findings in the first-quarter luxury report include:
- Miami-Dade County's luxury single-family transactions jumped 19.6% year-over-year to 752, with the average sales price essentially holding flat at $3.17 million. Its high-end condo sector also surged 15.9% year-over-year to 504 transactions, with the average sales price increasing 3.4% year-over-year to $2.92 million
- Broward County's luxury single-family market posted an 8.9% year-over-year jump in $1 million-and-up sales and an 8.6% year-over-year gain in average sales price to $2.3 million. The county's high-end condo sector enjoyed an 18.6% year-over-year surge in total transactions to 242, with the average luxury condo sales price rising 15.5% year-over-year to $1.99 million
- Palm Beach County's high-end single-family sales jumped 21.1% year-over-year to 2,028, with the average sales price gaining 5.1% to $2.84 million. The county's luxury condominium market had a 5.9% year-over-year decline in transactions to 683, as its average sales price declined 9.8% to $2.34 million.
- The Treasure Coast luxury residential market did not mirror the activity experienced by neighboring territories during the first quarter. On the high-end single-family side, total transactions slipped 4.5% year-over-year to 127, while the average single-family sales price declined 25.4% year-over-year to $3.0 million. Luxury condominium sales jumped 66.7% year-over-year, with the average sales price declining 1.5% to $1.88 million.
- Southwest Florida posted a notable 11.7% year-over-year climb in luxury single-family sales to 2,675, with the region's average single-family sales price rising 3.1% to $2.27 million. Its high-end condo sector had a much stronger first quarter of 2026 than in previous quarters, with total transactions surging 16% year-over-year to 760. The average condo sales price dipped 5.1% year-over-year to $1.98 million.
"South Florida remains remarkably resilient in the face of macroeconomic and geopolitical uncertainty, particularly at the luxury end of the market," Keyes/Illustrated CEO Mike Pappas said. "This level of activity reinforces that opportunities are abundant for luxury sellers and buyers alike, and we are encouraged by the momentum heading into the remainder of 2026."
The complete first-quarter luxury report can be found here: keyesluxuryreport.com