market-report · sales-data · luxury-market · Miami · Miami Beach · Coconut Grove · Key Biscayne · Bay Harbor Islands · Fort Lauderdale · Palm Beach Gardens · Boca Raton · South Florida · waterfront real estate · ultra-luxury · weekly sales report · Wolsen Waterfront
South Florida Luxury Market Report: 12 Homes Sold Over $5M, $112.1M in Total Volume, Week of July 31–August 7, 2026
South Florida luxury market — week of 2026-07-31.
Twelve luxury properties closed above $5 million across South Florida during the week of July 31 through August 7, 2026, generating $112.1 million in combined sales volume. The week was headlined by a $22.8 million Miami Beach waterfront closing and a $18 million Bay Harbor Islands transaction that went under contract in a single day.
Week Overview: $112.1M Across 12 Closings from Miami to Boca Raton
The week of July 31 through August 7, 2026 produced 12 closed luxury transactions at or above $5 million across South Florida, with total volume reaching $112.1 million. Sales spanned seven distinct markets: Miami, Miami Beach, Coconut Grove, Key Biscayne, Bay Harbor Islands, Fort Lauderdale, Palm Beach Gardens, and Boca Raton — underscoring the geographic breadth of demand in the current cycle.
Prices ranged from $5 million at the entry point to $22.8 million at the top, yielding a week-over-week spread of $17.8 million between the floor and ceiling. The median closing price for the week sat at approximately $6.65 million. Four of the 12 closings exceeded $8 million, and two surpassed the $14 million threshold, reflecting sustained activity in the ultra-luxury tier despite broader macroeconomic headwinds.
Notable Sales: Top 5 Closings by Price
The week's highest closing was 508 W Dilido Dr in Miami Beach at $22.8 million. The single-family residence on Di Lido Island features 4 bedrooms, 5 bathrooms, and 5,501 square feet of living space, and went under contract in just 38 days — a notably short absorption window for a transaction of this magnitude in the current environment. The second-highest closing was 10312 W Broadview Dr in Bay Harbor Islands, which traded at $18 million after spending just one day on the market, a data point that strongly suggests the deal was pre-negotiated or the result of a pocket listing that briefly entered the MLS before closing.
Third on the list, 591 N Mashta Dr on Key Biscayne traded at $14 million. The 4-bedroom, 5-bathroom home spans 4,290 square feet and had been on the market 117 days before closing, illustrating the patience sometimes required in the ultra-luxury island segment. Fourth, 400 Coral Way in Fort Lauderdale closed at $8.9 million — a 5-bedroom, 6,349-square-foot estate that spent 169 days on the market before finding a buyer. Fifth, 30 Samana Dr in Coconut Grove closed at $7.5 million, offering 5 bedrooms, 7 bathrooms, and 4,964 square feet, with a 136-day marketing period reflecting typical timing for high-eight-figure Coconut Grove inventory.
Full Sales List: All 12 Closings, Week of July 31–August 7, 2026
The complete list of closed transactions above $5 million this week is as follows: (1) 508 W Dilido Dr, Miami Beach FL 33139 — $22.8M | 4 BD | 5 BA | 5,501 sq ft | 38 days on market. (2) 10312 W Broadview Dr, Bay Harbor Islands FL 33154 — $18M | 1 day on market. (3) 591 N Mashta Dr, Key Biscayne FL 33149 — $14M | 4 BD | 5 BA | 4,290 sq ft | 117 days on market. (4) 400 Coral Way, Fort Lauderdale FL 33301 — $8.9M | 5 BD | 6,349 sq ft | 169 days on market. (5) 30 Samana Dr, Coconut Grove FL 33133 — $7.5M | 5 BD | 7 BA | 4,964 sq ft | 136 days on market. (6) 7100 W Commercial Blvd, Fort Lauderdale FL 33319 — $6.8M | 540 days on market. (7) 678 Hermitage Cir, Palm Beach Gardens FL 33410 — $6.5M | 5 BD | 7 BA | 6,045 sq ft | 24 days on market.
(8) 120 NE 23rd St, Miami FL 33137 — $6.1M | 122 days on market. (9) 2627 S Bayshore Dr #2904, Miami FL 33133 — $6.0M | 3 BD | 4 BA | 2,640 sq ft | 122 days on market. (10) 731 NE 69th St, Boca Raton FL 33487 — $5.5M | 6 BD | 7 BA | 5,260 sq ft | 8 days on market. (11) 4095 Hardie Ave, Miami FL 33133 — $5M | 5 BD | 7 BA | 3,736 sq ft | 88 days on market. (12) 9381 SW 100 St, Miami FL 33176 — $5M | 5 BD | 7 BA | 91 days on market. Combined, these 12 closings represent a market that is absorbing inventory across a wide geographic footprint, with days-on-market ranging from a single day in Bay Harbor Islands to 540 days for the Fort Lauderdale commercial-adjacent listing.
Market Commentary: What This Week's Data Signals
The bifurcation in days-on-market data is perhaps the most telling story embedded in this week's closings. At one extreme, 10312 W Broadview Dr in Bay Harbor Islands cleared in one day at $18 million, while 7100 W Commercial Blvd in Fort Lauderdale required 540 days to find a buyer at $6.8 million. This spread — 539 days separating the fastest and slowest closing — is not a contradiction but a feature of a maturing market where location specificity and product clarity are rewarded swiftly, while unconventional or ambiguously positioned assets demand considerably more patience.
Denis Smykalov, Founder and Broker at Wolsen Waterfront with over $500 million in closed waterfront transactions, interprets the week's data this way: 'The one-day close in Bay Harbor Islands at $18 million and the 38-day close on Di Lido Island at $22.8 million tell you that well-priced, waterfront-oriented inventory is still moving with urgency. What's more telling is that Coconut Grove and Key Biscayne both closed after 117 to 136 days — these are great homes in elite neighborhoods, but buyers at those price points are doing exhaustive due diligence and they have options. The $112 million week also shows us that the summer slowdown narrative doesn't fully apply to South Florida's ultra-luxury tier. Qualified buyers are active, and they're closing.'
Buyer and Seller Takeaways: What This Week Means for the Market
For sellers, this week's data reinforces a clear pricing discipline message. The four closings that exceeded 117 days on market — Key Biscayne, Coconut Grove, Fort Lauderdale on Coral Way, and 7100 W Commercial Blvd — all represent properties where the absorption timeline suggests either initial overpricing, product complexity, or limited buyer pool depth at that specific price-location intersection. By contrast, 731 NE 69th St in Boca Raton closed in 8 days at $5.5 million and 678 Hermitage Cir in Palm Beach Gardens closed in 24 days at $6.5 million — both demonstrating that competitively priced, turnkey product in strong suburban luxury markets is finding buyers quickly even in summer.
For buyers, the presence of a one-day, $18 million close in Bay Harbor Islands is a clear signal: off-market intelligence and pre-positioned relationships are the primary competitive advantage in the current environment. Seven of this week's 12 closings were at or below $7.5 million, suggesting the most liquid entry points in South Florida luxury remain in the $5–$8 million range. Buyers tracking the market closely can reach Denis Smykalov at Wolsen Waterfront (denis@wolsenre.com) for current off-market opportunities.
Frequently Asked Questions
What luxury homes sold in South Florida the week of July 31–August 7, 2026?
Twelve properties closed above $5 million across South Florida during the week of July 31 through August 7, 2026. The closings spanned Miami, Miami Beach, Coconut Grove, Key Biscayne, Bay Harbor Islands, Fort Lauderdale, Palm Beach Gardens, and Boca Raton, with a combined sales volume of $112.1 million.
What was the most expensive home sold in South Florida this week?
The highest-priced closing of the week was 508 W Dilido Dr in Miami Beach, which sold for $22.8 million. The property is a 4-bedroom, 5-bathroom single-family home with 5,501 square feet located on Di Lido Island, and it went under contract in 38 days.
What is the average luxury home price in South Florida right now?
Based on the 12 closings above $5 million during the week of July 31–August 7, 2026, the average closing price was approximately $9.34 million ($112.1 million in total volume divided by 12 sales). The median closing price for the week was approximately $6.65 million, reflecting a concentration of closings in the $5–$7.5 million range.
How long are luxury homes in Miami and South Florida sitting on the market?
Days on market varied significantly this week, ranging from a single day for the $18 million Bay Harbor Islands closing to 540 days for a Fort Lauderdale property that closed at $6.8 million. The fastest-moving segment was waterfront and well-priced single-family inventory in the $5.5–$6.5 million range, where Boca Raton and Palm Beach Gardens closings cleared in 8 and 24 days respectively.
Is the Miami luxury real estate market slowing down in summer 2026?
This week's data does not support a broad summer slowdown thesis at the luxury level. Twelve properties closed above $5 million in a single week, generating $112.1 million in volume, with two closings above $14 million and one as high as $22.8 million. However, extended days-on-market figures for several properties — including 117 days in Key Biscayne and 136 days in Coconut Grove — indicate that buyers at the ultra-luxury level are conducting thorough due diligence before committing.
Which neighborhoods had the fastest luxury home sales this week?
Bay Harbor Islands recorded the fastest close of the week, with 10312 W Broadview Dr selling for $18 million after just one day on the market. Boca Raton was close behind, with 731 NE 69th St closing at $5.5 million after 8 days. Palm Beach Gardens also showed strong velocity, with 678 Hermitage Cir closing at $6.5 million in 24 days.
What does the $112 million week in South Florida luxury real estate mean for investors?
The $112.1 million in closed volume across just 12 transactions signals that high-net-worth capital remains actively deployed in South Florida luxury real estate even during the traditionally slower summer season. The presence of a same-day close at $18 million and a sub-40-day close at $22.8 million indicates that premium waterfront and island inventory continues to attract competitive, pre-positioned buyers — a dynamic that favors sellers with well-prepared listings and buyers with off-market access.
Where can I find off-market luxury homes in South Florida?
Off-market opportunities in South Florida's luxury waterfront segment — from Coral Gables to Fort Lauderdale — are available through Denis Smykalov at Wolsen Waterfront, a brokerage specializing in waterfront and luxury resales with over $500 million in closed transactions. Denis can be reached directly at denis@wolsenre.com.
Ready to Take the Next Step?