South Florida Luxury Market Report: 17 Homes Sold Over $5M, $145.9M in Total Volume, Week of July 30–August 6, 2026

Week Overview: $145.9M in Luxury Closings Across Nine South Florida Cities

The week of July 30 through August 6, 2026 recorded 17 closed transactions at or above the $5 million threshold, producing a combined sales volume of $145.9 million. Prices ranged from $5 million at the low end to $21.5 million at the top, reflecting sustained demand across multiple tiers of the luxury segment. Cities represented include Boca Raton, Miami, Fort Lauderdale, Pinecrest, Palm Beach Gardens, Wellington, North Miami, Coconut Grove, Bay Harbor Islands, and Key Biscayne — a geographic spread that underscores the breadth of active buyer interest throughout the Miami-to-Fort Lauderdale corridor.

Days on market varied dramatically, from same-day closings at 0 DOM to a Wellington estate that sat 399 days before finding a buyer. Six of the 17 properties closed in 30 days or fewer, signaling that correctly priced assets in desirable locations continue to attract swift offers. Conversely, four properties required more than 120 days to close, illustrating that even in the luxury tier, overpriced or niche listings face meaningful time-on-market risk. The week's data captures a market that is active but increasingly bifurcated between well-positioned listings and those requiring price discovery.

Notable Sales: Top 5 Closings by Price

The week's highest sale was 1642 Sabal Palm Drive in Boca Raton, which closed at $21.5 million with zero days on market — a strong signal of a pre-marketed or off-market transaction. The estate spans 9,370 square feet with 7 bedrooms and 9 bathrooms, translating to approximately $2,294 per square foot, among the highest price-per-square-foot figures recorded in Boca Raton's residential market this year. At number two, 10312 W Broadview Drive in Bay Harbor Islands closed at $18 million after just one day on market, suggesting it was either a whisper listing or a property with a buyer waiting in the wings before the MLS entry. The limited listing data available for this address points to a waterfront or premium-positioned asset in one of Miami-Dade's most sought-after barrier island communities.

Third on the week was 591 N Mashta Drive in Key Biscayne, closing at $14 million after 117 days on market. The home offers 4,290 square feet across 4 bedrooms and 5 bathrooms, producing a price-per-square-foot of approximately $3,263 — one of the highest unit rates of the week and consistent with Key Biscayne's premium island pricing. Fourth was 4 Isla Bahia Drive in Fort Lauderdale's exclusive Harbour Inlet neighborhood, which closed at $9.9 million after 120 days on market. The 5,287-square-foot, 5-bedroom waterfront estate came in at roughly $1,873 per square foot. Rounding out the top five, 2370 Bayview Lane in North Miami and 30 Samana Drive in Coconut Grove each closed at $7.5 million. The North Miami property offers 5,750 square feet with 6 bedrooms and 7 bathrooms, while the Coconut Grove home delivers 4,964 square feet with 5 bedrooms and 7 bathrooms — both reflecting strong demand for large-footprint luxury homes in established waterfront-adjacent communities.

Full Sales List: All 17 Closings, Week of July 30–August 6, 2026

The complete set of 17 closed transactions above $5 million for the week is as follows: 1642 Sabal Palm Drive, Boca Raton — $21.5M | 7 BD | 9 BA | 9,370 sq ft | 0 days on market. 10312 W Broadview Drive, Bay Harbor Islands — $18M | 1 day on market. 591 N Mashta Drive, Key Biscayne — $14M | 4 BD | 5 BA | 4,290 sq ft | 117 days on market. 4 Isla Bahia Drive, Fort Lauderdale — $9.9M | 5 BD | 5,287 sq ft | 120 days on market. 2370 Bayview Lane, North Miami — $7.5M | 6 BD | 7 BA | 5,750 sq ft | 128 days on market. 30 Samana Drive, Coconut Grove — $7.5M | 5 BD | 7 BA | 4,964 sq ft | 136 days on market. 11368 Polo Park Trail, Wellington — $7.3M | 6 BD | 7 BA | 7,022 sq ft | 399 days on market. 7100 W Commercial Blvd, Fort Lauderdale — $6.8M | 540 days on market. 6920 SW 124th Street, Pinecrest — $6.5M | 6 BD | 8 BA | 5,926 sq ft | 24 days on market. 678 Hermitage Circle, Palm Beach Gardens — $6.5M | 5 BD | 7 BA | 6,045 sq ft | 24 days on market. 21476 Burnside Court, Boca Raton — $6.3M | 7 BD | 10,890 sq ft | 0 days on market. 120 NE 23rd Street, Miami — $6.1M | 122 days on market. 2627 S Bayshore Drive #2904, Miami — $6.0M | 3 BD | 4 BA | 2,640 sq ft | 122 days on market. 6641 SW 85th Street, Miami — $5.9M | 6 BD | 8 BA | 5,266 sq ft | 45 days on market. 14949 SW 184th Avenue, Miami — $5.6M | 6 BD | 7 BA | 9,264 sq ft | 175 days on market. 731 NE 69th Street, Boca Raton — $5.5M | 6 BD | 7 BA | 5,260 sq ft | 8 days on market. 8600 Surrey Lane, Boca Raton — $5M | 15 days on market.

Boca Raton led all cities with four closed transactions totaling an estimated $38 million, followed by Miami with five closings and Fort Lauderdale contributing two. The Wellington closing at 399 days on market — ultimately at $7.3 million for a 7,022-square-foot equestrian-area estate — illustrates that patient sellers in lifestyle-driven submarkets can eventually find their buyer, though at the cost of extended carrying time. The $6.8 million Fort Lauderdale commercial-adjacent listing at 7100 W Commercial Blvd, which spent 540 days on market before closing, represents the longest listing-to-close timeline of the week and a cautionary example of how specialized or mixed-use luxury assets require a narrower buyer pool.

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

Denis Smykalov, Founder and Broker at Wolsen Waterfront with more than $500 million in closed waterfront transactions, notes that the week's two same-day or near-immediate closings — the $21.5 million Sabal Palm Drive estate in Boca Raton and the $18 million Bay Harbor Islands property — are particularly telling. 'When you see zero or one day on market at those price points, you're almost certainly looking at buyer relationships that were built before the property ever hit the MLS,' Smykalov observes. 'That's the off-market dynamic that defines the ultra-luxury tier right now. The best assets in the best locations are moving through private networks, not through open market competition.' He points to the concentration of Boca Raton closings — four transactions including the week's top sale — as further evidence that the northern Palm Beach County luxury corridor remains one of the most liquid submarkets in South Florida.

Smykalov also highlights the divergence in days-on-market data as a defining characteristic of the current environment. 'Six closings in 30 days or fewer tells you demand is real and immediate for correctly priced homes. But four closings at 120-plus days, including the 540-day Fort Lauderdale commercial listing, tells you that patience is not free — it comes with carrying costs, price reductions, and opportunity cost,' he says. 'The market is rewarding specificity and penalizing ambiguity. Buyers know what they want, and they're moving fast when they find it.' The Key Biscayne closing at roughly $3,263 per square foot is particularly noteworthy, Smykalov adds, as it reinforces the island's status as one of the most price-resilient luxury addresses in all of Miami-Dade County despite lower overall transaction volume compared to mainland neighborhoods.

Buyer and Seller Opportunity: What This Week's Data Means for the Market Ahead

For sellers, this week's data delivers a clear message: properties that are priced correctly and positioned within active buyer networks are closing quickly and at strong values. The $21.5 million Boca Raton estate closing at zero days on market and the $18 million Bay Harbor Islands property closing in one day are not outliers — they are the product of intentional pre-marketing, strong broker relationships, and accurate pricing relative to comparable inventory. Sellers sitting on properties that have exceeded 90 days on market should treat the longer-duration closings this week — including the 399-day Wellington estate and the 540-day Fort Lauderdale listing — as a data-driven prompt to reassess price and strategy before the late-summer market window closes.

For buyers, the week's geographic diversity — nine cities represented across a 70-mile corridor — reinforces that opportunity exists throughout South Florida's luxury tier, not only in headline markets like Miami Beach or Palm Beach. The Pinecrest closing at $6.5 million for nearly 6,000 square feet, or the Palm Beach Gardens estate at the same price with 6,045 square feet, represent compelling value relative to smaller, higher-priced properties in denser urban submarkets. Waterfront and luxury buyers who prioritize square footage, privacy, and land should be actively tracking Pinecrest, Palm Beach Gardens, and North Miami, where this week's data shows meaningful activity at competitive per-square-foot rates. Buyers tracking the market closely can reach Denis Smykalov at Wolsen Waterfront (denis@wolsenre.com) for current off-market opportunities.

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