Luxury home buyers pushed Miami-Dade County prices to an average of $3.61 million in the second quarter of 2026, a nearly 22% jump from a year earlier that signals continued demand for high-end real estate across the county.
The figures come from the quarterly Luxury Market Report published Monday, July 21, by The Keyes Company and Illustrated Properties. Miami-Dade led all of South Florida in both price growth and sales volume, with luxury single-family transactions surging 32.5% to 1,000 closings during the quarter.
That demand is already visible in the Aventura area. Growin Group broke ground in June on EDEN, a 32-unit boutique luxury condo project at 2557 NE 180th St. near Aventura Mall, with prices starting at $570,000. Growin Group co-founder Luis Ochoa said Aventura's Brightline station, the mall, Gulfstream Park and top-rated private schools give the area infrastructure that matches what buyers expect.
Regional picture
Regionwide, luxury single-family sales rose 20.1% year over year to 8,013 transactions across Miami-Dade, Broward, Palm Beach, the Treasure Coast and Southwest Florida. Luxury condo sales climbed 23.5% to 2,590 closings. The average luxury single-family home sold for $2.63 million across the region, up 7.2%, while luxury condos averaged $2.37 million, essentially flat at a 0.3% increase.
Miami-Dade's $3.61 million average luxury price is 37% above that regional luxury average, reflecting the county's waterfront premium.
The Keyes report noted that the gains came without widespread price reductions, suggesting sellers held firm on asking prices.
Where the buyers come from
Christina Pappas, president of Keyes and Illustrated Properties, said the firm's data contradicts national headlines about wealthy Californians flooding Florida. The top feeder states remain New York, Illinois, Michigan, New Jersey and Ohio, a pattern that has held for years.
Separate data from the Miami Association of Realtors reinforces the trend. Sales of $1 million-plus homes jumped 29% in Miami-Dade in June 2026 compared with a year earlier, with nearly 38% of all county home purchases completed in cash.
"It's a clear indication of the acceleration in wealth migration to South Florida," Miami Realtors Chief Economist Gay Cororaton said July 20, when the association released its June sales data.
Luxury up, condos mixed
Condo prices across Miami-Dade slipped 3.2% to a median of $431,000 in June, according to the Miami Association of Realtors, as elevated inventory from state condo safety requirements enacted after the 2021 Surfside collapse continued to weigh on the broader market. The luxury tier, however, remained insulated from that pressure.
Keyes CEO Mike Pappas said the firm expects affluent buyers to keep choosing South Florida despite national housing-market uncertainty. The broader condo market's next test comes as buildings across the county face reserve-funding deadlines tied to those same post-Surfside rules.
