Florida’s housing market is cooling in some areas, but the ultra-luxury tier—properties priced at $5 million and higher—remains one of the strongest segments in the country. These trophy homes are attracting high-net-worth buyers from across the globe, solidifying Florida’s status as a premier luxury destination.
Market Highlights
While median statewide prices dipped slightly this year, ultra-luxury sales tell a different story. Waterfront estates in Miami, Palm Beach, and Naples continue to command eight-figure price tags, with several record-setting transactions topping $50 million in early 2025.
The majority of $5M+ transactions are closing in cash, insulating this market from the interest rate sensitivity affecting lower price tiers. Limited supply—especially for oceanfront properties—keeps competition high and supports values at the very top.
Who’s Driving Demand?
The ultra-luxury buyer pool is both domestic and international:
- Billionaires and entrepreneurs are relocating from New York, Chicago, and California for tax advantages.
- Global investors from Europe, South America, and the Middle East.
- Retirees and legacy buyers seeking exclusive properties with long-term stability.
Lifestyle remains central to demand. Buyers in the $5M+ segment expect privacy, exclusivity, and world-class amenities—whether it’s private marinas, golf course communities, or new construction estates with resort-style features.
What Buyers Should Expect
Competition remains strongest for rare properties: direct oceanfront, Intracoastal access, or prime gated communities. New construction and fully renovated homes are particularly desirable. For those entering the market, patience and global reach in representation are essential.
What Sellers Should Prioritize
Selling in this rarefied tier requires precision. Scarcity sells—unique locations and irreplaceable features command premiums. Global exposure is a must—buyers may come from London, Dubai, or São Paulo just as readily as Palm Beach or Miami. Timing the listing with Florida’s high season ensures maximum visibility among international and out-of-state buyers.
Florida’s ultra-luxury market is charting its own course in 2025. While the general housing market adjusts to new conditions, the $5M+ tier remains fueled by global demand, wealth migration, and limited supply. Buyers are competing for exclusivity, and sellers who market internationally and highlight their property’s unique advantages continue to see strong results.