South Florida Luxury Market Report: 16 Homes Sold Over $5M, $179.7M in Total Volume, Week of August 7–14, 2026

Week Overview: $179.7M in Closed Luxury Sales Across South Florida

The week of August 7–14, 2026 produced 16 closed transactions at or above $5 million across South Florida, totaling $179.7 million in combined sales volume. The price range spanned from $5.1 million at the entry threshold to $21 million at the top, reflecting active demand across multiple luxury price bands. Cities represented include Miami Beach, Bay Harbor Islands, Palm Beach, Key Biscayne, Coral Gables, Boca Raton, Palm Beach Gardens, West Palm Beach, North Miami, and Miami Lakes.

Notably, two duplicate address entries appear in the raw MLS data — 240 Tangier Avenue in Palm Beach and 93 Palm Ave in Miami Beach — each recorded twice, which may reflect system duplication or amended closing records. Adjusted for these, the confirmed unique transactions account for a diverse cross-section of South Florida's ultra-prime residential market, with Palm Beach and Miami Beach contributing disproportionately to total dollar volume this week.

Notable Sales: The Top 5 Closings by Price

The week's highest confirmed closing was 93 Palm Ave in Miami Beach at $21 million, a figure that appeared twice in MLS records. This address on Palm Island is one of Miami Beach's most coveted waterfront corridors and represents the upper ceiling of the week's activity. Close behind was 9814 W Broadview Dr in Bay Harbor Islands, which closed at $20 million — an 8-bedroom, 9-bathroom home spanning 5,916 square feet that went under contract in just three days, signaling a pre-marketed or off-market situation that came to a rapid close. Third was 350 SEABREEZE Avenue in Palm Beach at $17.1 million, a 5-bedroom, 4,936-square-foot estate that also spent just one day on market before going under contract — one of the fastest absorption timelines in the dataset.

Rounding out the top five, 6970 Sunrise Dr in Coral Gables closed at $13 million after 179 days on market — a 6-bedroom, 7-bathroom home with 6,460 square feet, making it one of the largest homes sold this week by livable area. Fifth was 240 Tangier Avenue in Palm Beach at $12 million, a 4-bedroom, 4-bathroom home at 4,473 square feet that appeared twice in MLS records with slightly different days-on-market figures (69 and 115 days), suggesting a possible re-listing or contract amendment before final close.

Full Sales List: All 16 Closed Transactions, August 7–14, 2026

Below is the complete list of MLS-recorded closings at $5 million and above for the week: (1) 93 Palm Ave, Miami Beach — $21M [recorded twice in MLS]; (2) 9814 W Broadview Dr, Bay Harbor Islands — $20M | 8 BD | 9 BA | 5,916 sq ft | 3 days on market; (3) 350 SEABREEZE Ave, Palm Beach — $17.1M | 5 BD | 4,936 sq ft | 1 day on market; (4) 6970 Sunrise Dr, Coral Gables — $13M | 6 BD | 7 BA | 6,460 sq ft | 179 days on market; (5) 240 Tangier Ave, Palm Beach — $12M | 4 BD | 4 BA | 4,473 sq ft [recorded twice in MLS with varying DOM]; (6) 111 Reef Ln, Key Biscayne — $10.8M | 7 BD | 6 BA | 5,008 sq ft | 176 days on market; (7) 260 Everglade Ave, Palm Beach — $9M | 3 BD | 2,903 sq ft | 2 days on market; (8) 256 Alhambra Place, West Palm Beach — $7.5M | 6 BD | 5,984 sq ft | 123 days on market; (9) 14324 Paradise Point Road, Palm Beach Gardens — $7.1M | 4 BD | 4,800 sq ft | 4 days on market; (10) 1282 Sabal Palm Drive, Boca Raton — $6.8M | 5 BD | 6,058 sq ft | 56 days on market; (11) 723 Marble Way, Boca Raton — $6.8M | 6 BD | 5,242 sq ft | 9 days on market; (12) 5.3M — 2085 Keystone Blvd, North Miami — $5.3M | 5 BD | 7 BA | 4,919 sq ft | 194 days on market; (13) 669 S Mashta Dr, Key Biscayne — $5.2M | 4 BD | 4 BA | 3,382 sq ft | 38 days on market; (14) 14180 NW 77th Ct, Miami Lakes — $5.1M | 277 days on market.

Days on market across the 16 records ranged from a single day (350 SEABREEZE Ave, Palm Beach) to 277 days (14180 NW 77th Ct, Miami Lakes), highlighting starkly different absorption dynamics within the same price tier. The median days on market across all records was approximately 47 days, while several Palm Beach properties moved in under five days — a pattern consistent with off-market buyer pipelines or pre-qualified buyer activity in that market.

Market Commentary: What This Week's Data Reveals About South Florida Luxury

The geographic distribution of this week's closings tells a nuanced story about where luxury demand is concentrating. Palm Beach alone contributed four or five records (including the Tangier Avenue duplicate) and accounted for the majority of closings under five days on market. Denis Smykalov, Founder and Broker at Wolsen Waterfront with over $500 million in closed waterfront transactions, notes that the cluster of ultra-fast Palm Beach closings — 350 SEABREEZE Ave at one day, 260 Everglade Ave at two days, and 14324 Paradise Point Road at four days — reflects the continued dominance of pre-positioned, relationship-driven deal flow in that ZIP code. 'When you see sub-five-day closings in Palm Beach at $7M to $17M, those buyers aren't coming from Zillow,' Smykalov observes. 'That inventory is moving through trusted broker networks before it ever hits public search portals with any serious marketing time.'

Equally notable is the contrast between Palm Beach's velocity and the longer-tenured listings that finally closed this week. The Miami Lakes listing at 14180 NW 77th Ct took 277 days to find a buyer at $5.1 million, and 2085 Keystone Blvd in North Miami sat for 194 days before closing at $5.3 million. Smykalov interprets this divergence as a function of product-market fit rather than softening demand: 'The luxury market is not monolithic. A $5M home in Miami Lakes is a fundamentally different buyer profile than a $17M estate in Palm Beach. The longer DOM at the lower end of our price range this week tells me sellers in secondary luxury submarkets are still recalibrating price expectations, while the top tier in Palm Beach and Miami Beach is as competitive as we've seen it.' The $21 million close on Palm Island and the $20 million Bay Harbor Islands waterfront closing in three days both support that assessment.

Buyer and Seller Takeaways: What This Week's Data Means for You

For sellers, this week's data reinforces a market that rewards accurate initial pricing and professional pre-marketing. The properties that sold in under five days were almost certainly in front of qualified buyers before or immediately upon listing — a pipeline built through brokerage relationships, not extended public exposure. Conversely, listings like the Miami Lakes and North Miami properties demonstrate that overpriced or under-marketed luxury inventory at any level will sit, even in an otherwise active market. Sellers in the $5M–$8M tier in markets outside Palm Beach and Miami Beach should work closely with their broker on pricing strategy and pre-launch outreach.

For buyers, the week's data shows that the best waterfront and luxury inventory in Palm Beach, Miami Beach, and Bay Harbor Islands is moving faster than public listing data can capture. The three-day close on 9814 W Broadview Dr in Bay Harbor Islands at $20 million, and the one-day absorption at 350 SEABREEZE in Palm Beach, signal that buyers who rely solely on public MLS alerts will consistently find themselves a step behind. Establishing broker relationships that provide access to pre-market and off-market flow remains the primary competitive advantage in this segment. Buyers tracking the market closely can reach Denis Smykalov at Wolsen Waterfront (denis@wolsenre.com) for current off-market opportunities.

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