South Florida Luxury Market Report: 16 Homes Sold Over $5M, $197.4M in Total Volume, Week of August 10–17, 2026

Week Overview: $197.4M Across Eight South Florida Cities

The week of August 10–17, 2026 produced 16 closed luxury transactions at or above $5 million across South Florida, combining for $197.4 million in aggregate sales volume. Prices ranged from $5.2 million at the lower threshold to $26.5 million at the top, reflecting the full breadth of the region's ultra-prime residential market. Cities represented in this week's closings include Palm Beach, Miami Beach, Coral Gables, Boca Raton, Bay Harbor Islands, West Palm Beach, Palm Beach Gardens, Key Biscayne, and Lighthouse Point — a geographically diverse sweep from Miami-Dade to Palm Beach County.

Palm Beach dominated by deal count, recording at least five closings within its zip code alone, while Miami Beach registered the week's single highest-dollar transaction outside of Palm Beach. Days on market varied dramatically — from a same-day closing in Lighthouse Point to a 185-day hold in Palm Beach — suggesting a market that continues to reward well-priced, well-positioned inventory while occasionally requiring patience for aspirationally priced offerings.

Notable Sales: Top 5 Transactions by Price

The week's top sale was 127 Ocean View Road, Palm Beach FL 33480, which closed at $26.5 million. The four-bedroom estate spans 7,255 square feet and spent 132 days on market before securing a buyer — underscoring that even trophy-level properties in Palm Beach are not immune to extended marketing periods when pricing expectations require alignment. Close behind, 93 Palm Ave in Miami Beach closed at $21 million after just 38–39 days on market, a brisk pace for a home at that price point that signals strong demand in Miami Beach's ultra-luxury single-family segment. Full square footage and bedroom details for this property were not disclosed in this week's MLS data. Third on the list, 9814 W Broadview Dr in Bay Harbor Islands transacted at $20 million — an eight-bedroom, nine-bathroom home spanning 5,916 square feet that found a buyer in just three days on market, one of the fastest closings of the week at that price tier.

The fourth-largest sale was 6970 Sunrise Dr in Coral Gables, which closed at $13 million after 179 days on market. The six-bedroom, seven-bathroom estate encompasses 6,460 square feet and represents Coral Gables' continued appeal to buyers seeking larger footprints south of Miami. Rounding out the top five, 240 Tangier Avenue in Palm Beach closed at $12 million — a four-bedroom, four-bathroom home of 4,473 square feet that had been on the market between 69 and 115 days according to MLS records. Together, these five transactions alone account for $92.5 million, or approximately 47 percent of the week's total volume.

Full Sales List: All 16 Closings, August 10–17, 2026

Below is the complete record of luxury closings above $5 million recorded during the week: (1) 127 Ocean View Road, Palm Beach — $26.5M | 4 BD | 7,255 sq ft | 132 days on market. (2) 93 Palm Ave, Miami Beach — $21M | 38–39 days on market. (3) 9814 W Broadview Dr, Bay Harbor Islands — $20M | 8 BD | 9 BA | 5,916 sq ft | 3 days on market. (4) 6970 Sunrise Dr, Coral Gables — $13M | 6 BD | 7 BA | 6,460 sq ft | 179 days on market. (5) 240 Tangier Avenue, Palm Beach — $12M | 4 BD | 4 BA | 4,473 sq ft | 69–115 days on market. (6) 350 Seabreeze Avenue, Palm Beach — $17.1M | 5 BD | 4,936 sq ft | 1 day on market. (7) 260 Everglade Avenue, 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) 3181 NE 31st Avenue, Lighthouse Point — $6.9M | 5 BD | 5,036 sq ft | 0 days on market. (11) 1282 Sabal Palm Drive, Boca Raton — $6.8M | 5 BD | 6,058 sq ft | 56 days on market. (12) 723 Marble Way, Boca Raton — $6.8M | 6 BD | 5,242 sq ft | 9 days on market. (13) 285 Orange Grove Road, Palm Beach — $5.5M | 4 BD | 4 BA | 2,759 sq ft | 185 days on market. (14) 669 S Mashta Dr, Key Biscayne — $5.2M | 4 BD | 4 BA | 3,382 sq ft | 38 days on market. (15–16) Note: MLS data contains two entries each for 93 Palm Ave, Miami Beach ($21M) and 240 Tangier Avenue, Palm Beach ($12M), which are reflected as single transactions in volume calculations. The 16-sale count reflects all recorded MLS entries as submitted.

Market Commentary: Speed, Depth, and Divergence

This week's data reveals a market defined by sharp divergence rather than uniformity. Three closings — 350 Seabreeze Avenue in Palm Beach ($17.1M, 1 day), 260 Everglade Avenue in Palm Beach ($9M, 2 days), and 9814 W Broadview Dr in Bay Harbor Islands ($20M, 3 days) — each found buyers in under a week, while 285 Orange Grove Road in Palm Beach lingered 185 days before closing at $5.5 million and 6970 Sunrise Dr in Coral Gables required 179 days to close at $13 million. Denis Smykalov, Founder and Broker at Wolsen Waterfront with over $500 million in closed waterfront transactions, interprets this split as a defining characteristic of the current cycle. 'What we're seeing is a two-speed market,' Smykalov notes. 'Correctly priced waterfront and trophy inventory — especially in Palm Beach and Bay Harbor Islands — is being absorbed almost instantaneously, sometimes before a listing even accumulates days on market in any meaningful way. But properties that enter at aspirational price points are facing a patient, disciplined buyer pool that will simply wait. The days-on-market spread this week, from zero to 185, tells you everything about what pricing discipline means right now.'

Smykalov also points to the geographic breadth of this week's closings as significant. 'We had meaningful volume from Key Biscayne all the way up to Lighthouse Point — that's the full corridor. Coral Gables at $13 million, Bay Harbor Islands at $20 million, Boca Raton with two closings totaling $13.6 million — this isn't a Palm Beach story alone. The demand base for $5 million and above property is distributed across the entire South Florida waterfront market, and that's a structural shift from what we observed even three years ago.' The week's $197.4 million aggregate also indicates that the August seasonal slowdown, historically a soft period for luxury closings, is not dampening transaction activity to the degree it once did.

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

For sellers, this week's data provides both encouragement and a clear warning. Properties entering the market at defensible price points — whether in Palm Beach, Bay Harbor Islands, or Boca Raton — are finding buyers rapidly, sometimes within days. The three sub-five-day closings above $9 million confirm that serious, liquid buyers are active even in the heart of summer. However, the three properties that required more than 120 days to close — 127 Ocean View Road (132 days, $26.5M), 256 Alhambra Place (123 days, $7.5M), 285 Orange Grove Road (185 days, $5.5M), and 6970 Sunrise Dr (179 days, $13M) — demonstrate that overpriced inventory will sit regardless of location prestige. Sellers who price strategically at entry will compress their time to close and maintain negotiating leverage.

For buyers, this week's data confirms that off-market access and speed of execution are non-negotiable at the $10 million and above price point. Three of the four highest-value closings this week — including the $20 million Bay Harbor Islands sale and the $17.1 million Palm Beach closing — transacted in three days or fewer, leaving buyers who rely solely on public listing platforms at a systematic disadvantage. Buyers tracking the market closely can reach Denis Smykalov at Wolsen Waterfront (denis@wolsenre.com) for current off-market opportunities.

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