Florida real estate market sees surge in luxury sales and coastal demand

Florida is experiencing a significant surge in real estate activity, particularly within the luxury and coastal segments. In Miami-Dade County, home sales priced at $10 million or more have already reached 194 in 2026, representing a 14 percent increase over the total for 2025. The Miami Association of Realtors projects the county could finish the year with approximately 291 such sales, potentially surpassing the previous record set in 2021.

This growth is driven by Florida’s transition into a permanent wealth hub, attracting corporate executives, entrepreneurs, and international investors. In the Florida Keys, property values have seen a robust upward trend, with median home prices in areas like Key West exceeding $700,000. The market is being shaped by the rise of remote work, which has increased demand for both permanent residences and vacation homes.

In the Florida Keys, developers are increasingly focusing on luxury condominiums and sustainable building practices to address climate change risks, such as rising sea levels. Additionally, the popularity of short-term rental platforms has turned many properties into lucrative investment opportunities for those targeting the tourism sector.