South Florida Luxury Market Report: 13 Homes Sold Over $5M, $121.7M in Total Volume Week of August 3–10, 2026

Week Overview: $121.7M Across Eight South Florida Markets

Thirteen properties closed at or above $5 million between August 3 and August 10, 2026, producing $121.7 million in aggregate sales volume. Prices ranged from $5 million at the low end — recorded at both 4095 Hardie Ave in Miami and 9381 SW 100th St in Miami — up to $22.8 million for a Miami Beach waterfront estate at 508 W Dilido Dr. The median sale price for the week came in at approximately $6.5 million, reflecting a market supported by consistent demand across multiple price tiers rather than a single outlier transaction.

Eight distinct municipalities contributed closings: Miami Beach, Key Biscayne, Miami, Coconut Grove, Bay Harbor Islands, Palm Beach Gardens, Fort Lauderdale, North Miami, and Medley. Key Biscayne punched above its weight with two closings totaling $24.8 million, while Fort Lauderdale contributed two sales totaling $14.2 million. The geographic spread underscores that South Florida luxury demand in this period was broad-based rather than concentrated in a single submarket.

Notable Sales: Top 5 Closings by Price

The week's headline transaction was 508 W Dilido Dr in Miami Beach, which closed at $22.8 million. The four-bedroom, five-bathroom home spans 5,501 square feet and spent only 38 days on market — a notably brisk timeline at that price point that signals strong buyer conviction for well-positioned Miami Beach waterfront product. Second was 10312 W Broadview Dr in Bay Harbor Islands, closing at $18 million after just one day on market, making it the fastest close of the week by a significant margin and suggesting either an off-market relationship or a buyer who moved with exceptional urgency. Third was 591 N Mashta Dr in Key Biscayne, which fetched $14 million for a four-bedroom, five-bathroom home of 4,290 square feet after 117 days on market, demonstrating that patient sellers in premier island locations can still command eight-figure prices. Fourth was 111 Reef Ln, also in Key Biscayne, closing at $10.8 million for a seven-bedroom, six-bathroom residence of 5,008 square feet after 176 days on market — the longest hold time among the top five. Rounding out the top five was 30 Samana Dr in Coconut Grove at $7.5 million, a five-bedroom, seven-bathroom home of 4,964 square feet that spent 136 days on market before securing its buyer.

Full Sales List: All 13 Closings, Week of August 3–10, 2026

The complete record of closed transactions above $5 million for the week is as follows. 508 W Dilido Dr, Miami Beach — $22.8M | 4 BD | 5 BA | 5,501 sq ft | 38 days on market. 10312 W Broadview Dr, Bay Harbor Islands — $18M | 1 day on market. 591 N Mashta Dr, Key Biscayne — $14M | 4 BD | 5 BA | 4,290 sq ft | 117 days on market. 111 Reef Ln, Key Biscayne — $10.8M | 7 BD | 6 BA | 5,008 sq ft | 176 days on market. 400 Coral Way, Fort Lauderdale — $8.9M | 5 BD | 6,349 sq ft | 169 days on market. 30 Samana Dr, Coconut Grove — $7.5M | 5 BD | 7 BA | 4,964 sq ft | 136 days on market. 678 Hermitage Cir, Palm Beach Gardens — $6.5M | 5 BD | 7 BA | 6,045 sq ft | 24 days on market. 6400 NW 84th Ave, Medley — $6.5M | 35 days on market. 120 NE 23rd St, Miami — $6.1M | 122 days on market. 2085 Keystone Blvd, North Miami — $5.3M | 5 BD | 7 BA | 4,919 sq ft | 194 days on market. 2540 Mercedes Drive, Fort Lauderdale — $5.3M | 4 BD | 3,750 sq ft | 128 days on market. 4095 Hardie Ave, Miami — $5M | 5 BD | 7 BA | 3,736 sq ft | 88 days on market. 9381 SW 100th St, Miami — $5M | 5 BD | 7 BA | 91 days on market.

Market Commentary: Speed vs. Patience Defining the Summer Luxury Cycle

The most telling pattern in this week's data is the divergence in days-on-market between properties that sold quickly and those that required extended campaigns. The Bay Harbor Islands closing at $18 million in a single day, and the Miami Beach closing at $22.8 million in 38 days, stand in sharp contrast to 2085 Keystone Blvd in North Miami (194 days), 111 Reef Ln in Key Biscayne (176 days), and 400 Coral Way in Fort Lauderdale (169 days). Both dynamics resolved in the same week, which is itself significant — the market is absorbing inventory across a wide patience spectrum rather than rewarding only freshly listed product.

Denis Smykalov, Founder and Broker at Wolsen Waterfront with over $500 million in closed waterfront transactions, interprets the week's data as evidence of a bifurcated buyer pool actively at work. 'What stands out to me this week is the simultaneous closing of a property that sat for 194 days and one that closed in a single day, both in the same price neighborhood,' Smykalov notes. 'That tells me the buyers who know exactly what they want — the specific street, the specific water orientation — are moving with no hesitation, while the broader pool is still being selective. The volume number, $121.7 million in one week, confirms demand is real. The days-on-market spread confirms it is not indiscriminate.'

Buyer and Seller Opportunity: What This Week's Data Signals

For sellers, the week's data offers both encouragement and a caution. Properties with clear locational differentiation — waterfront position, island address, or established neighborhood cachet — are closing efficiently and at full weight. The Palm Beach Gardens listing at 678 Hermitage Cir closed in 24 days at $6.5 million for 6,045 square feet, a strong outcome for the market. The Medley commercial-area listing at 6400 NW 84th Ave also closed in 35 days at $6.5 million, suggesting specialized buyer pools for non-residential luxury assets remain active. Sellers of more generalist luxury inventory, however, should calibrate expectations: four of the thirteen closings required more than four months on market before finding a buyer.

For buyers, this week demonstrates that motivated sellers exist across all price tiers above $5 million, including properties that have been on market for the better part of a year. The Fort Lauderdale closing at 2540 Mercedes Drive — $5.3 million after 128 days — and the North Miami closing at 2085 Keystone Blvd — $5.3 million after 194 days — represent situations where buyers likely had meaningful negotiating leverage. At the same time, buyers who hesitate on correctly priced waterfront product risk losing out, as the Bay Harbor Islands and Miami Beach data make clear. Buyers tracking the market closely can reach Denis Smykalov at Wolsen Waterfront (denis@wolsenre.com) for current off-market opportunities.

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