Florida Multimillion Dollar Market

June 2023 report: Florida’s highest end luxury residential real estate

Presented by the Florida real estate lawyers at Rabideau Klein

$5 Million-plus Houses: Florida ultraluxe market outpaces national market in May
May was a stellar month for Palm Beach, as well as a big month for Florida in the highest end home sale market. The state’s two largest transactions in advertised sales were for property purchases made in Palm Beach, the ocean facing estates at 854 S. Ocean Road and 930 S. Ocean Boulevard for $63 and $41 million, respectively.

Additionally, 261 estates in the $5 million-plus segment entered the market in May, the top two located In Broward and Miami-Dade counties. A two-home Intracoastal-facing estate in Fort Lauderdale was priced at $98 million and 12 Indian Creek Island Road was priced at $85 million.

$5 Million-plus Condos: Condos compete with houses in the $5M-plus luxe market
There was less that a five percent difference between the average mean price of ultraluxe condominiums and single-family homes that were advertised during the last three months, with single family homes at $7 million and attached homes at $6.65 million.

Last month 94 new condominium listings entered the market with the priciest property tagged at $40 million by Christin Angle of Christian Angle Real Estate in Palm Beach, and the largest sale was the Bal Harbour purchase of an Essex House penthouse for $22 million.

Florida Multimillion Dollar Market Brief
Each issue reports on the advertised Florida real estate activity for the prior month in the category of ultra-luxury residential sales and listings of single-family homes and condominiums priced at $5 million or more. The information reflects all data entered by the last day of the prior month. When a sale or listing for that month is posted after the last day of the month, that information will be rolled into the following month’s report. The Florida Multimillion Dollar Market Brief reports on real estate with residential property such as single-family home, condo, co-op and townhouse types, and does not include land-only, multi-family homes, and mobile home types.

All information contained in the report is deemed to be reliable, but is not guaranteed. Neither Rabideau Klein, nor any of its employees makes any representations or warranties as to the accuracy of its contents.

The Rabideau Klein Florida Multimillion Dollar Market is a monthly 8-page resource that focuses on the luxury real estate industry in the State of Florida and reveals a continuum of developing sales and listing trends.
  1. The Top Single Family Home and Condominium Volume of Sales
  2. The Top Single Family Home and Condominium Average Sale Prices
  3. Tracks Residential Properties Listed or Sold for $5 Million or More

Each report shows meaningful tracking of the leading luxury real estate transactions including average pricing and sales volumes for three-, six-, and twelve-month intervals.