South Florida's $10M+ luxury home sales hit a four-year high

What’s happening

South Florida recorded 361 home sales at $10 million or more in 2025 — the second-highest count in the dataset’s history. The driver is the now-familiar wealth-migration story: high-net-worth families and individuals relocating from New York, California, and Illinois, with cash to deploy and tax planning at the center of the move.

Why this matters if you’re buying

If you’re not in the $10M-plus tier, this still affects your market in two ways:

• The top of the market pulls everything up. When the luxury tier is active, sellers a few rungs down hold firmer on price, and buyers a few rungs up shop more aggressively.
• The cash buyer pool is real. In premium South Florida ZIP codes, a meaningful share of closings are cash. Competing against a cash offer with a financed offer often means tightening contingencies or coming in higher.

What you can do:

• Get fully underwritten, not just pre-approved. A fully underwritten loan commitment looks closer to cash to a listing agent.
• Shorten what you can. A 21-day closing on a 30-day standard contract can offset a cash bid.
• Know which neighborhoods have the cash concentration. Your agent should be able to tell you what share of recent sales were cash.

Related FAQs

• Buyer’s or seller’s market in Florida?
• Pre-qualified vs pre-approved