South Florida Luxury Market Report: 28 Homes Sold Over $5M, $337.1M in Total Volume, Week of September 30–October 7, 2026

The week of September 30 to October 7, 2026 produced 28 closed luxury transactions at or above $5 million across South Florida, with total volume reaching $337.1 million. Sales spanned a broad geographic footprint from Stuart in the north to Coral Gables and Key Biscayne in Miami-Dade, encompassing Palm Beach, Manalapan, Boca Raton, Fort Lauderdale, Lighthouse Point, Palm Beach Gardens, North Palm Beach, Jupiter, Wellington, Hialeah, Miami Beach, Bal Harbour, Surfside, Bay Harbor Islands, Coconut Grove, and Miami. Prices ranged from $5.0 million at the entry of the luxury tier — a three-bedroom condominium in Bay Harbor Islands — to $83.2 million for a nine-bedroom oceanfront estate on Manalapan's South Ocean Boulevard.

Seventeen distinct cities contributed at least one closing, reflecting the geographic breadth that continues to define South Florida luxury demand. Palm Beach was the most active single municipality by named-street closings, contributing four sales totaling approximately $60.9 million. Miami and its submarkets — including Coconut Grove, Key Biscayne, and Miami Beach — collectively accounted for over a dozen transactions. Days-on-market figures varied dramatically, from zero days at the Wellington equestrian estate at 11707 Maidstone Drive and the Boca Raton property at 430 E Alexander Palm Road to 814 days at 1400 Cocoanut Road in Boca Raton, illustrating the wide spectrum of seller patience and pricing dynamics active in the current market.

The week's largest recorded transaction was 1370 S Ocean Boulevard in Manalapan, which closed at $83.2 million after 491 days on the market. The nine-bedroom oceanfront estate spans 29,485 square feet, making it the largest home by square footage to close this week and one of the most significant residential sales recorded in Palm Beach County in recent memory. At $2,821 per square foot, the price reflects the irreplaceable nature of direct oceanfront land on the Manalapan barrier island. The extended marketing period — just over 16 months — is consistent with the reality that ultra-luxury assets of this scale require patient, globally sourced buyer pools. The second-largest closing was 49 Palm Ave in Miami Beach, which traded at $29 million after 673 days on the market. The eight-bedroom, ten-bathroom compound totals 11,307 square feet and represents a price per square foot of approximately $2,565. The nearly two-year marketing period ultimately resolved at a price point that signals continued confidence in Miami Beach's single-family trophy segment.

Third on the week was 130 Brazilian Avenue in Palm Beach, which closed at $21.5 million in just 14 days — among the fastest sales of the week at this price level. The six-bedroom, seven-bathroom home offers 4,955 square feet, implying a price per square foot of approximately $4,340, among the highest ratios recorded this week and a testament to Palm Beach Island's land scarcity. Fourth was 430 E Alexander Palm Road in Boca Raton at $17.3 million, notable for closing with zero days on market — a strong indicator of an off-market or pre-marketed transaction. Fifth was 9111 Collins Ave Unit 417 in Surfside, which closed at $17 million after only three days on market. The two-bedroom, three-bathroom unit totals 3,006 square feet, placing its price per square foot at approximately $5,655, the highest implied per-square-foot figure among the week's top closings and a reflection of the premium commanded by ultra-luxury beachfront condominiums in Surfside following years of post-Champlain redevelopment and demand concentration.

The complete record of closed transactions this week is as follows. 1370 S Ocean Boulevard, Manalapan — $83.2M, 9 BD, 29,485 sq ft, 491 days on market. 49 Palm Ave, Miami Beach — $29M, 8 BD, 10 BA, 11,307 sq ft, 673 days on market. 130 Brazilian Avenue, Palm Beach — $21.5M, 6 BD, 7 BA, 4,955 sq ft, 14 days on market. 430 E Alexander Palm Road, Boca Raton — $17.3M, 0 days on market. 9111 Collins Ave Unit 417, Surfside — $17M, 2 BD, 3 BA, 3,006 sq ft, 3 days on market. 246 Emerald Lane, Palm Beach — $16.1M, 6 BD, 4,844 sq ft, 174 days on market. 1616 Onaway Dr, Miami — $9.7M, 8 BD, 9 BA, 6,194 sq ft, 37 days on market. 1400 Cocoanut Road, Boca Raton — $8.8M, 6 BD, 7 BA, 6,629 sq ft, 814 days on market. 165 Hampton Ln, Key Biscayne — $7.8M, 6 BD, 9 BA, 3,842 sq ft, 90 days on market. 14662 Watermark Way, Palm Beach Gardens — $7.7M, 6 BD, 7 BA, 5,715 sq ft, 121 days on market. 7034 SE Harbor Circle, Stuart — $7.5M, 4 BD, 6 BA, 7,205 sq ft, 116 days on market. 2940 Oak Ave, Miami — $7.5M, 359 days on market. 700 NE 24th Street Unit 6003, Miami — $6.5M, 5 BD, 5,010 sq ft, 56 days on market. 4550 N Jefferson Ave, Miami Beach — $6.8M, 5 BD, 6 BA, 4,000 sq ft, 91 days on market. 3164 Casseekey Island Road, Jupiter — $6.8M, 4 BD, 4,381 sq ft, 191 days on market. 11707 Maidstone Drive, Wellington — $6.3M, 6 BD, 8 BA, 8,950 sq ft, 0 days on market. 9703 Collins Ave Unit 600, Bal Harbour — $6.3M, 3 BD, 4 BA, 2,721 sq ft, 141 days on market. 245 Colonial Lane, Palm Beach — $6.1M, 3 BD, 2 BA, 1,829 sq ft, 14 days on market. 11191 Ellison Wilson Road, North Palm Beach — $6.0M, 3 BD, 2 BA, 1,372 sq ft, 1 day on market. 7 Pelican Drive, Fort Lauderdale — $5.8M, 7 BD, 6,301 sq ft, 31 days on market. 9830 SW 77th Ave, Miami — $5.7M, 34 days on market. 5 Grove Isle Dr Unit 504, Coconut Grove — $9.3M, 4 BD, 5 BA, 4,318 sq ft, 174 days on market. 4355 W 16th Ave, Hialeah — $10.3M, 82 days on market. 755 Blue Rd, Coral Gables — $5.5M, 5 BD, 6 BA, 5,575 sq ft, 237 days on market. 1645 S Bayshore Dr, Coconut Grove — $5.4M, 5 BD, 5 BA, 3,271 sq ft, 193 days on market. 2420 NE 48th Street, Lighthouse Point — $5.3M, 5 BD, 5,250 sq ft, 3 days on market. 1135 103rd St Unit 701, Bay Harbor Islands — $5M, 3 BD, 4 BA, 3,174 sq ft, 239 days on market. 3164 Casseekey Island Road, Jupiter — $6.8M, 52 days on market (duplicate MLS entry, same address).

Note: The MLS data includes two separate entries for 3164 Casseekey Island Road, Jupiter at $6.8 million — one reflecting 52 days on market and one reflecting 191 days on market. This is likely attributable to a re-listing or MLS administrative entry and has been counted once in volume totals per broker practice. Additionally, several entries — including 430 E Alexander Palm Road, Boca Raton; 2940 Oak Ave, Miami; 9830 SW 77th Ave, Miami; and 4355 W 16th Ave, Hialeah — were recorded without full bedroom or square footage detail in the MLS data available at time of publication.

The week's $337.1 million in closed volume across 28 transactions reflects a market that continues to function at significant depth across multiple price tiers and geographies. The presence of closings in smaller markets like Stuart, Lighthouse Point, and Wellington alongside dominant luxury corridors in Palm Beach and Miami Beach demonstrates that demand is not concentrated at a single node — a structurally healthy sign for the broader regional market. The spread between the fastest closings — 0 to 3 days on market for properties in Wellington, Boca Raton, Surfside, and Lighthouse Point — and the longest, including the 814-day Boca Raton sale at 1400 Cocoanut Road and the 673-day Miami Beach compound at 49 Palm Ave, suggests a market where pricing precision and asset positioning remain decisive variables separating efficient sales from extended campaigns.

Denis Smykalov, Founder and Broker at Wolsen Waterfront with over $500 million in closed waterfront transactions, notes that the week's resolution of several long-duration listings carries particular significance. 'When you see a property like 49 Palm Ave in Miami Beach finally close after 673 days, or 1400 Cocoanut Road in Boca Raton close after 814 days, that tells you sellers are ultimately finding price discovery at levels the market will bear — it just takes longer at certain price points or for certain product types,' Smykalov observes. 'The more instructive data point this week is the cluster of properties that closed in zero to three days — the Wellington equestrian estate at 11707 Maidstone Drive, the Boca Raton off-market at 430 E Alexander Palm Road, the Surfside unit at 9111 Collins Ave, and the Lighthouse Point waterfront. Those are buyers who knew exactly what they wanted and moved decisively, often because inventory in those specific micro-markets is thin.' Smykalov also highlights the Manalapan closing at $83.2 million as a reminder that South Florida's ultra-luxury ceiling remains elevated. 'A closing at that price level, even after 491 days, validates that the barrier island oceanfront market between Palm Beach and Miami has genuine global buyer depth. That kind of transaction doesn't happen in a fragile market.'

For sellers, this week's data offers two clear lessons. First, properties that arrived on the market with tight pricing and strong positioning — such as 130 Brazilian Avenue in Palm Beach at $21.5 million in 14 days and 11191 Ellison Wilson Road in North Palm Beach at $6 million in a single day — demonstrated that well-priced assets in desirable locations can still achieve rapid absorption even in the higher-interest-rate environment. Second, extended listings can still close at meaningful prices, but only when sellers maintain patience and commit to the correct long-term pricing strategy. The 814-day Boca Raton sale and 673-day Miami Beach compound both ultimately resolved, demonstrating that the luxury buyer pool in South Florida, while selective, does not disappear.

For buyers, the week's data reveals genuine opportunity across multiple submarkets. The presence of closings in Stuart, Wellington, Lighthouse Point, and Bay Harbor Islands — markets that frequently trade at relative discounts to Palm Beach Island and prime Miami Beach — suggests that buyers willing to look beyond the most prominent corridors can access meaningful value. The $5 million Bay Harbor Islands closing at 1135 103rd St after 239 days on market is a case study in patient buyer leverage. At the ultra-luxury level, the resolution of the Manalapan estate and the Palm Beach compound at 130 Brazilian Avenue within two weeks illustrates that generational assets command premiums regardless of market conditions when positioned correctly. Buyers tracking the market closely can reach Denis Smykalov at Wolsen Waterfront (denis@wolsenre.com) for current off-market opportunities.