South Florida Luxury Real Estate Market Report: 24 Homes Sold Over $5M, Week of September 21–28, 2026

Week Overview: $309.1M in Closed Sales Across South Florida's Luxury Tier

For the week of September 21–28, 2026, South Florida recorded 24 residential closings at or above $5 million, producing a combined sales volume of $309.1 million. Transaction prices spanned from $5 million at the low end to $33 million at the top, reflecting an active and broad-based luxury market rather than one driven by a single outlier event. The average sale price across the 24 transactions came in at approximately $12.9 million.

The closings were distributed across eleven distinct markets: Miami Beach, Miami, Boca Raton, West Palm Beach, Fort Lauderdale, Palm Beach, Palm Beach Gardens, Sunny Isles Beach, Wellington, Gulf Stream, Jensen Beach, Stuart, Weston, and North Miami Beach. Boca Raton led all markets with five closings totaling approximately $62.3 million, while Miami Beach contributed three closings totaling $71 million, making it the highest-volume individual market for the week by aggregate dollars. West Palm Beach produced three closings exceeding $41 million combined, reinforcing the Palm Beach corridor's continued dominance in the upper price bands.

Notable Sales: Top 5 Closings by Price

The week's highest-priced closing was 126 W San Marino Dr, Miami Beach, FL 33139, which traded at $33 million. The five-bedroom, seven-bath home spans 7,890 square feet and closed in just 35 days on market — a strong signal of deep buyer demand for premium Miami Beach waterfront product at pace. The price equates to approximately $4,177 per square foot, among the highest per-foot figures recorded in the market this week.

Second was 3016 SE Dune Drive, Stuart, FL 34996, closing at $32.5 million after 270 days on market. The five-bedroom estate encompasses 11,606 square feet, making it the largest home to close this week by square footage. At roughly $2,800 per square foot, the Stuart oceanfront market continues to command institutional-grade pricing for trophy coastal assets. Third was 205 N Hibiscus Dr, Miami Beach, FL 33139, which sold for $22 million in just three days on market — a near-instant close on a four-bedroom, three-bath home of 4,097 square feet, translating to approximately $5,370 per square foot, the highest rate recorded this week. Fourth was 2989 Spanish River Road, Boca Raton, FL 33432, which closed at $22.5 million after 172 days on market. The six-bedroom, eleven-bath estate stretches across 12,055 square feet, the second largest footprint of the week, at approximately $1,867 per square foot — indicative of the value proposition that Boca Raton's estate market continues to offer relative to Miami. Fifth was 1421 N Venetian Way, Miami, FL 33139, which sold for $16 million in just 14 days on market. The five-bedroom, five-bath home measures 4,172 square feet, representing approximately $3,834 per square foot and signaling strong momentum along Miami's Venetian Islands corridor.

Full Sales List: All 24 Closings, Week of September 21–28, 2026

The complete list of closed transactions at or above $5 million for the week is as follows: (1) 126 W San Marino Dr, Miami Beach — $33,000,000 | 5 BD | 7 BA | 7,890 sq ft | 35 DOM. (2) 3016 SE Dune Drive, Stuart — $32,500,000 | 5 BD | 11,606 sq ft | 270 DOM. (3) 2989 Spanish River Road, Boca Raton — $22,500,000 | 6 BD | 11 BA | 12,055 sq ft | 172 DOM. (4) 205 N Hibiscus Dr, Miami Beach — $22,000,000 | 4 BD | 3 BA | 4,097 sq ft | 3 DOM. (5) 2914 N Flagler Drive, West Palm Beach — $20,100,000 | 7 BD | 9 BA | 9,524 sq ft | 367 DOM. (6) 1421 N Venetian Way, Miami — $16,000,000 | 5 BD | 5 BA | 4,172 sq ft | 14 DOM. (7) 133 W Coconut Palm Road, Boca Raton — $15,700,000 | 6 BD | 9 BA | 8,439 sq ft | 124 DOM. (8) 2312 Appaloosa Trail, Wellington — $13,700,000 | 6 BD | 8,084 sq ft | 284 DOM. (9) 217 Thatch Palm Drive, Boca Raton — $13,200,000 | 6 BD | 8 BA | 8,548 sq ft | 65 DOM. (10) 111 Seagate Road, Palm Beach — $12,000,000 | 4 BD | 5 BA | 3,835 sq ft | 1 DOM. (11) 2820 Brickell Ave, Miami — $11,500,000 | 6 BD | 7 BA | 6,522 sq ft | 44 DOM. (12) 210 Cortez Road, West Palm Beach — $11,100,000 | 6 BD | 6,289 sq ft | 377 DOM. (13) 2924 Bluewater Cove, Gulf Stream — $11,100,000 | 4 BD | 4,651 sq ft | 0 DOM. (14) 1333 S Flagler Drive #2302, West Palm Beach — $10,200,000 | 4 BD | 4,440 sq ft | 0 DOM. (15) 1455 N Park Dr, Weston — $8,100,000 | 1,414 DOM. (16) 15701 Collins Ave #3005, Sunny Isles Beach — $7,700,000 | 4 BD | 6 BA | 3,204 sq ft | 25 DOM. (17) 1877 Royal Palm Way, Boca Raton — $7,000,000 | 4 BD | 4,341 sq ft | 38 DOM. (18) 2950 NE 164th St, North Miami Beach — $7,000,000 | 5 BD | 6 BA | 5,796 sq ft | 1,023 DOM. (19) 15701 Collins Ave #2005, Sunny Isles Beach — $6,800,000 | 4 BD | 6 BA | 3,204 sq ft | 123 DOM. (20) 8036 S Ocean Drive, Jensen Beach — $6,700,000 | 5 BD | 7,679 sq ft | 10 DOM. (21) 23133 Sandalfoot Plaza Dr, Boca Raton — $5,800,000 | 230 DOM. (22) 3061 NE 44th Street, Fort Lauderdale — $5,400,000 | 5 BD | 7,358 sq ft | 674 DOM. (23) 6949 Lake Estates Court, Boca Raton — $5,100,000 | 6 BD | 6 BA | 5,949 sq ft | 48 DOM. (24) 5603 Whirlaway Road, Palm Beach Gardens — $5,000,000 | 5 BD | 7,202 sq ft | 245 DOM.

Several closings this week stood out for the duration they spent on market before finding a buyer. The Weston property at 1455 N Park Dr closed after a remarkable 1,414 days — nearly four years — while 2950 NE 164th St in North Miami Beach cleared after 1,023 days and 3061 NE 44th Street in Fort Lauderdale moved after 674 days. These protracted timelines contrast sharply with same-week closings at 0 days on market — 2924 Bluewater Cove in Gulf Stream and 1333 S Flagler Drive #2302 in West Palm Beach — a divergence that illustrates the importance of accurate pricing and asset positioning in a market where buyers are selective but move swiftly when value is apparent.

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

The week's $309.1 million in closed volume across 24 transactions reflects a luxury market that is functioning with meaningful velocity at the upper end, even as individual asset timelines vary dramatically. The geographic spread of closings — from Stuart in the north to Miami in the south — demonstrates that demand for ultra-luxury real estate is not confined to a single submarket but is distributed across the entire South Florida coastal corridor. The presence of multiple zero-day-on-market closings alongside multi-year listings clearing in the same week suggests a bifurcated clearing mechanism: correctly priced, well-positioned assets transact at or near listing, while overpriced or niche properties require extended seasoning before buyers and sellers arrive at agreement.

Denis Smykalov, Founder and Broker at Wolsen Waterfront — with more than $500 million in closed waterfront transactions — interprets this week's concentration of high-velocity closings in Miami Beach as particularly telling. 'The fact that 205 N Hibiscus closed in three days at $22 million, and 126 W San Marino closed in 35 days at $33 million, tells you that qualified buyers are actively patrolling the Miami Beach waterfront market with capital ready to deploy,' Smykalov notes. 'What we are also seeing on the Palm Beach corridor — two zero-day closings in West Palm Beach and Gulf Stream combined with the $20.1 million sale on N Flagler after 367 days — is a market that rewards patience on the seller side when the asset is genuinely differentiated, but punishes mispricing with years of carrying cost. The Boca Raton cluster of five closings totaling over $62 million in a single week is not noise; that market has deepened structurally, and the price-per-foot on Spanish River Road is making a statement about where the ceiling is heading.'

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

For sellers, this week's data delivers a clear message: pricing discipline is the single greatest determinant of time on market. The properties that closed in zero, one, three, or fourteen days shared a common characteristic — they were priced to meet the market, not to test it. Conversely, the listings that spent 674, 1,023, and 1,414 days on market before closing ultimately transacted, but at a significant cost in carrying expenses, opportunity cost, and negotiating leverage. Sellers considering entry into the $5 million to $15 million range should note that Boca Raton, West Palm Beach, and Miami Beach collectively represented the majority of this week's volume, suggesting those are the markets where buyer pools are deepest right now.

For buyers, the week's data reveals genuine opportunity at the intersection of size and value. The Spanish River Road estate in Boca Raton at $1,867 per square foot for 12,055 square feet closed at a fraction of the per-foot rate achieved by smaller Miami Beach homes, illustrating that estate-scale buyers willing to look beyond the immediate Miami Beach or Palm Beach ZIP codes can acquire significantly more physical asset for their capital. The Jensen Beach and Stuart closings — at $6.7 million and $32.5 million respectively — point to a Treasure Coast corridor that is attracting serious capital and still pricing at a discount to its southern counterparts on a per-foot basis. Buyers tracking the market closely can reach Denis Smykalov at Wolsen Waterfront (denis@wolsenre.com) for current off-market opportunities.

Frequently Asked Questions