John Wieland

Florida's luxury real estate market is experiencing remarkable growth in 2026, with significant increases in multimillion-dollar home and condo sales.

The two charts here add context to the growth.

In the first quarter, sales of single-family homes priced between $5 million and $10 million rose over 31% compared to the same period in 2025. Luxury condos and townhouses priced above $1 million saw a 41% year-over-year increase, with the $3 million to $5 million segment surging nearly 69%.

This surge is driven by affluent buyers seeking Florida's desirable lifestyle, despite elevated mortgage rates and affordability challenges. Consider this: 54% of Palm Beach homebuyers pay in cash.

Florida's luxury market strength reflects ongoing demand from relocation buyers, investors, and second-home purchasers.

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Mr Downtown Delray
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