According to Mansion Global, while much of South Florida’s real estate market is showing signs of cooling after a years-long boom, Palm Beach is charting its own path—upward. Recent data reveals that Palm Beach was the only market in the region where both home prices and sales increased in the second quarter of 2025, especially in the ultra-luxury sector.
As other cities across the region experience a reset, Palm Beach continues to attract high-net-worth buyers who are less impacted by interest rates and more focused on lifestyle, legacy, and location.
According to a recent report from appraisal firm Miller Samuel, Palm Beach saw remarkable growth at the top of its market:
-
The median sale price for single-family homes in Palm Beach climbed to $12.9 million.
-
Condos in the area reached a median price of $1.8 million.
-
Sales volumes increased alongside prices—a rarity in today’s shifting market.
These numbers highlight Palm Beach’s unique position in the South Florida landscape: a market driven less by interest rates and more by discretionary cash buyers looking for trophy properties.
Just across the Intracoastal in West Palm Beach, the picture is more nuanced:
-
Luxury single-family home prices surged 31% year-over-year.
-
However, overall sales dipped, and condo prices fell by 12.7%.
-
The broader market for single-family homes saw a modest 4.1% price increase.
This contrast reveals a growing divide: the luxury segment continues to thrive even as the general market cools, a pattern that is emerging across much of Florida.
Miami Beach and Beyond: Rising Prices, Falling Sales
Over in Miami Beach, both luxury and ultra-luxury prices rose by 14.6%, but this didn’t translate to more sales. In fact, sales were down 25%, despite continued demand for high-end homes.
-
Single-family homes saw a 15% price drop but fewer transactions.
-
Condos, on the other hand, experienced a 25% drop in prices, which may have helped buoy sales slightly in that segment.
Other South Florida cities like Coral Gables and Fort Lauderdale are also seeing similar dynamics—price growth slowing, more listings on the market, and an overall move toward balance.
Inventory Levels Are Shifting—But Not Surging
One theme seen across nearly all South Florida markets was a noticeable increase in condo inventory, especially in the luxury segment:
-
Inventory of luxury condos rose more than 40% in Miami Beach, Coral Gables, and West Palm Beach.
-
Despite the uptick, levels are still below pre-pandemic highs, and buyers are still active, keeping supply in check.
In Palm Beach, however, the luxury market remains tightly supplied and deeply competitive—one of the key reasons it’s continuing to outperform.
If you’re a homeowner or investor in Palm Beach, these trends highlight just how resilient your asset is. Despite market adjustments elsewhere, Palm Beach remains a magnet for global wealth, offering a combination of exclusivity, security, and long-term upside.
Source: mansionglobal.com
