South Florida Luxury Market Report: 27 Homes Sold Over $5M, $249.1M in Total Volume, Week of July 7–14, 2026

Week Overview: 27 Closings, $249.1M in Volume Across South Florida

The week of July 7–14, 2026 produced 27 luxury residential closings at or above $5 million throughout South Florida, totaling $249.1 million in combined transaction volume. Sale prices ranged from $5 million at the low end to $22 million at the high end, yielding a mean sale price of approximately $9.22 million across the dataset. The median sale fell near $7.8 million, underscoring that the majority of activity occurred in the $7M–$10M band rather than at the extreme top of the market.

Markets represented this week include Miami, Coconut Grove, Miami Beach, Key Biscayne, Golden Beach, North Miami, Boca Raton, Fort Lauderdale, Palm Beach, Palm Beach Gardens, North Palm Beach, West Palm Beach, Gulf Stream, Jupiter, Bal Harbour, Cooper City, and Southwest Ranches — a sweep of seventeen distinct communities spanning Miami-Dade, Broward, and Palm Beach counties. The breadth of activity confirms that South Florida luxury demand is not concentrated in a single submarket but is distributed across waterfront, equestrian, golf, and urban high-rise product types simultaneously.

Notable Sales: The Five Largest Closings of the Week

The week's highest recorded closing was 10201 Collins Ave, Unit 3201 at the St. Regis Bal Harbour in Bal Harbour, which traded at $22 million. The 4-bedroom, 6-bathroom condominium spans 4,900 square feet and spent only 41 days on the market before going under contract, translating to a price-per-square-foot of approximately $4,490 — among the highest achieved in South Florida's condo segment this quarter. Second on the list is 288 S Coconut Lane in Miami Beach, a substantial 8-bedroom, 10-bathroom single-family residence of 9,094 square feet that closed at $18.5 million after 122 days on market, equating to roughly $2,035 per square foot. Third was 230 Harbor Drive in Key Biscayne, a 7-bedroom, 8-bathroom waterfront home of 6,240 square feet that closed at $17.5 million after a notably extended 595 days on market — the longest marketing period in this week's dataset — ultimately rewarding seller patience in a supply-constrained waterfront village.

Fourth for the week was 2655 S Bayshore Drive in Coconut Grove, closing at $16.1 million. The 5-bedroom, 6-bathroom property encompasses 6,611 square feet and was on the market for 168 days, pricing out at approximately $2,436 per square foot. Rounding out the top five is 7350 NE 8th Drive in Boca Raton, a 6-bedroom, 8-bathroom estate of 9,101 square feet — the largest home by square footage among the top closings — which sold for $13.5 million after only 10 days on the market. That 10-day absorption represents one of the fastest closings in the week's data and points to strong pre-qualified buyer interest in oversized Boca Raton waterfront product priced in the $1,400-per-square-foot range.

Full Sales List: All 27 Closings, July 7–14, 2026

The complete dataset of 27 closed sales at $5 million or above for the week is as follows: 10201 Collins Ave #3201, Bal Harbour — $22,000,000 | 4 BD / 6 BA | 4,900 sq ft | 41 DOM; 288 S Coconut Lane, Miami Beach — $18,500,000 | 8 BD / 10 BA | 9,094 sq ft | 122 DOM; 230 Harbor Drive, Key Biscayne — $17,500,000 | 7 BD / 8 BA | 6,240 sq ft | 595 DOM; 2655 S Bayshore Drive, Coconut Grove — $16,100,000 | 5 BD / 6 BA | 6,611 sq ft | 168 DOM; 7350 NE 8th Drive, Boca Raton — $13,500,000 | 6 BD / 8 BA | 9,101 sq ft | 10 DOM; 432 E Alexander Palm Road, Boca Raton — $14,500,000 | 4 BD / 3 BA | 4,318 sq ft | 1 DOM; 2669 S Bayshore Dr #1503N, Miami (Coconut Grove) — $9,100,000 | 6 BD / 6 BA | 5,332 sq ft | 7 DOM; 364 Golden Beach Drive, Golden Beach — $9,900,000 | 6 BD / 7 BA | 5,363 sq ft | 100 DOM; 324 Eden Road, Palm Beach — $9,000,000 | 340 DOM; 3580 Polo Drive, Gulf Stream — $8,000,000 | 5 BD | 6,067 sq ft | 209 DOM; 159 W Coconut Palm Road, Boca Raton — $8,500,000 | 4 BD | 4,412 sq ft | 231 DOM; 10428 Bernina Court, Palm Beach Gardens — $7,800,000 | 5 BD / 5 BA | 6,235 sq ft | 69 DOM; 158 Spyglass Lane, Jupiter — $7,900,000 | 5 BD / 6 BA | 8,159 sq ft | 95 DOM; 194 Golden Beach Drive, Golden Beach — $7,700,000 | 7 BD / 6 BA | 4,596 sq ft | 172 DOM; 2006 NE 124th Street, North Miami — $7,600,000 | 7 BD / 9 BA | 5,928 sq ft | 15 DOM; 7350 NE 8th Drive noted above; 2841 Emathla Street, Miami (Coconut Grove) — $7,300,000 | 4 BD / 5 BA | 3,243 sq ft | 1 DOM; 2442 Bay Circle, Palm Beach Gardens — $7,200,000 | 5 BD / 6 BA | 5,795 sq ft | 88 DOM; 1000 Biscayne Blvd #3201, Miami — $7,000,000 | 4 BD / 6 BA | 4,600 sq ft | 90 DOM; 706 Lakeside Circle, North Palm Beach — $6,500,000 | 5 BD | 7,832 sq ft | 126 DOM; 225 Murray Road, West Palm Beach — $6,100,000 | 5 BD | 3,852 sq ft | 118 DOM; 2425 Delmar Place, Fort Lauderdale — $6,000,000 | 5 BD | 4,714 sq ft | 154 DOM; 14699 Black Bear Road, Palm Beach Gardens — $5,700,000 | 4 BD / 5 BA | 6,014 sq ft | 227 DOM; 2821 S Bayshore Dr #6B, Miami — $5,300,000 | 4 BD / 4 BA | 2,532 sq ft | 82 DOM; 680 NE Marine Drive N, Boca Raton — $5,200,000 | 5 BD | 4,800 sq ft | 559 DOM; 1020 Grand Isle Terrace, Palm Beach Gardens — $5,200,000 | 4 BD | 4,642 sq ft | 51 DOM; 4610 SW 178th Avenue, Southwest Ranches — $5,000,000 | 8 BD / 8 BA | 7,966 sq ft | 119 DOM; 3611 NW 100th Avenue, Cooper City — $5,000,000 | 7 BD / 8 BA | 6,006 sq ft | 46 DOM.

Days on market across the 27 closings ranged dramatically from a single day — achieved at both 432 E Alexander Palm Road in Boca Raton and 2841 Emathla Street in Miami — to 595 days at 230 Harbor Drive in Key Biscayne. Six properties closed in 15 days or fewer, while eight properties required more than 150 days to find buyers, illustrating a bifurcated absorption environment in which precisely priced or off-market-caliber listings clear almost instantly while aspirationally priced inventory absorbs slowly regardless of quality.

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

The $249.1 million in weekly volume across 27 closings is consistent with elevated but not exceptional activity for the mid-summer 2026 period. The data reveals several structural characteristics of the current market. First, Coconut Grove and its immediate waterfront environs continue to generate outsized transaction velocity and price density: four closings this week — 2655 S Bayshore Drive at $16.1M, 2669 S Bayshore Dr #1503N at $9.1M, 2841 Emathla Street at $7.3M, and 2821 S Bayshore Dr #6B at $5.3M — totaled $37.8 million from a single zip code corridor, confirming Grove's transformation into one of Miami-Dade's most liquid luxury submarkets. Second, Boca Raton produced four closings ranging from $5.2M to $14.5M, demonstrating the market's depth across a wide price spectrum. The 1-day marketing period at 432 E Alexander Palm Road ($14.5M) suggests a transaction that may have been pre-arranged or subject to limited public exposure, a pattern increasingly common among Boca's gated estate inventory.

Third, the Palm Beach Gardens submarket delivered three closings this week — 2442 Bay Circle at $7.2M, 1020 Grand Isle Terrace at $5.2M, and 14699 Black Bear Road at $5.7M — for combined volume of $18.1 million, reinforcing the market's maturation from secondary to primary luxury destination. Fourth, the two transactions priced at exactly $5 million — 3611 NW 100th Avenue in Cooper City and 4610 SW 178th Avenue in Southwest Ranches — merit attention as outliers in geography. Both are non-waterfront, non-traditional-luxury communities that nonetheless cleared the $5M threshold, pointing to a broader redefinition of luxury driven by lot size, privacy, and estate-scale square footage rather than address prestige alone. The Cooper City property at 6,006 square feet and the Southwest Ranches estate at 7,966 square feet represent value-per-square-foot propositions that ultra-high-net-worth buyers increasingly consider alongside trophy waterfront product.

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

For sellers, the most actionable finding from this week's data is the stark difference in days on market between properties that entered the market with competitive, evidence-based pricing and those that tested the market at aspirational levels. The six properties that closed in 15 days or fewer — including the two 1-day closings, the 7-day closing at 2669 S Bayshore Dr, and the 10-day closing at 7350 NE 8th Drive — were uniformly absorbed with minimal negotiation friction. Conversely, the properties that carried 200-plus days on market — including 159 W Coconut Palm Road (231 days), 3580 Polo Drive (209 days), 14699 Black Bear Road (227 days), and 680 NE Marine Drive N (559 days) — ultimately closed, but at the cost of carrying expenses, opportunity cost, and potential stigma. In a market with 27 closings per week at this price tier, buyers have choices, and overpriced listings are not forgiven simply because the broader market is active.

For buyers, this week's data presents a nuanced opportunity. The presence of multiple closings at or near list price after extended marketing periods — particularly in Boca Raton and Palm Beach — suggests that patient, analytically-driven buyers who engage with stale inventory retain meaningful negotiating leverage. The Bal Harbour closing at $22 million and the Miami Beach closing at $18.5 million demonstrate that the absolute top of the market is transacting decisively when product quality and building prestige support the price. Buyers seeking best-in-class waterfront or branded-residence product should expect to pay at or near ask and move quickly; buyers targeting good-but-not-irreplaceable product in competitive submarkets retain room to negotiate. Engaging a brokerage with current, granular MLS data is essential to distinguishing between the two scenarios before submitting an offer.

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