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Palm Beach County luxury home sales are on track to set a new annual record for $30 million-plus home sales. According to September 2026 data from MIAMI REALTORS® + RWorld, the MIAMI MLS, and BeachesMLS, ultra-luxury activity remains strong.
Through September, the county recorded 21 single-family and condominium sales of $30 million or more. This total matches the full-year figure for all of 2025. At the current pace, Palm Beach County is projected to reach 28 such sales by year-end. As a result, the county would surpass its previous annual record by 27%.
“Palm Beach County leads the nation in cash purchases, with about one in every two home sales paid for in cash. That speaks to the strength of the market and the confidence buyers have in this region,” said MIAMI REALTORS® + RWorld Palm Beach Regional Vice President Stacy Plean.
Top Palm Beach County Luxury Rankings and Stats
- West Palm Beach ranked No. 1 among all-cash home buying markets in the U.S. (Redfin)
- Palm Beach ranked No. 3 in the world for prime property price growth over the last five years (Knight Frank Wealth Report 2026)
- West Palm Beach ranked No. 2 among America’s fastest-growing millionaire hubs (USA Wealth Report 2025)
Record for $10 Million-Plus Sales
Palm Beach County has already recorded 179 sales of $10 million or more through October 14, 2026. Specifically, these include both single-family homes and condominiums. This is the highest total in any calendar year in county history.
Overall September 2026 Sales Trends
Total home sales fell 3.3% year-over-year in September 2026, from 1,980 to 1,914. Condo transactions declined 4.28%, from 817 to 782. Single-family home sales decreased 2.67%, from 1,163 to 1,132.
However, the decrease reflects several factors. Mortgage rates rose nearly 0.6 percentage points since early September to 7.46%. Limited inventory in certain price ranges also played a role. In addition, uncertainty surrounding Florida’s October 6 state of emergency ahead of Hurricane Isaias contributed to the slowdown. Although South Florida was not among the 29 affected counties, hurricane threats can still delay mortgage approvals, funding, and closings.
These figures exclude most new construction, pre-construction, and condo conversion sales. They are largely unreported in the MLS. According to MIAMI REALTORS® reports, international buyers purchased 49% of South Florida new construction and related sales over an 18-month period ending in July 2025. A follow-up November 2025 report showed further growth in global sales from buyers in 73 countries.
Condo Financing Challenges Persist
Of the 2,397 condominium buildings in Miami-Dade, Broward, and Palm Beach counties, only 21 are approved for FHA loans. That equals just 0.9% of South Florida condo buildings. Furthermore, Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on August 3, 2026. Updated guidelines aim for a more transparent and financially secure lending environment. Still, Florida condos have long faced stricter standards than many other states.
Strong Long-Term Price Appreciation
Palm Beach County condominium prices have risen 244.4% since 2010, from a median of $90,000 to $310,000. In September 2026, the condo median increased 3.33% year-over-year, from $300,000 to $310,000. Declining condo inventory is expected to support further upward pressure on prices.
Single-family median sale prices rose 6.67% year-over-year in September 2026, from $615,000 to $656,000. Since 2010, single-family prices have appreciated 191.6%, from $225,000 to $656,000.
Inventory Continues to Tighten
Total active listings at the end of September 2026 decreased 17.2% year-over-year, from 12,490 to 10,339. Single-family inventory fell 19.64%, from 5,576 to 4,481. Meanwhile, condo inventory declined 15.27% for the eighth consecutive month, from 6,914 to 5,858.
Months of supply stands at 3.6 months for single-family homes, indicating a seller’s market. For existing condominiums, it is 6.8 months, which points to a balanced market. Nationally, total housing inventory was 1.60 million units in September, up 4.6% year-over-year, with a 4.8-month supply.
Cash Sales Remain Dominant
Cash sales represented 51.4% of Palm Beach County closed sales in September 2026, compared with 51.3% a year earlier. This is well above the national average of about 27%, according to NAR. Cash accounted for 61.1% of condo sales and 44.6% of single-family transactions. The high percentage reflects strong international and luxury buyer demand.
Homes sold close to list price. Single-family homes received a median of 95% of original list price, while condos received 93%. Median days from listing to contract were 43 for single-family homes (down from 51). For condos, the figure was 53 days (down from 65).
Economic Impact and Dollar Volume
Every home sale generates significant local economic activity. This includes commissions, moving costs, furnishings, remodeling, and the multiplier effect of recirculated income. Using NAR’s estimate of roughly $129,000 in economic impact per typical Florida home sale, Palm Beach County’s 1,914 September sales produced approximately $246 million in local economic impact.
Total dollar volume rose 13.03% year-over-year to $1.9 billion. Single-family dollar volume increased 17.59% to $1.5 billion. In contrast, condo dollar volume dipped 0.81% to $396 million.
Distressed sales remain historically low at 1.2% of all closed residential sales. Short sales accounted for 0.4% and REOs for 0.8%.
Broader Context and Affordability Efforts
Statewide, Florida single-family sales totaled 20,537 in September, down 3.5% year-over-year, with a median of $415,000 (up 1.2%). Condo-townhouse sales were 7,179 (down 0.1%) with a median of $293,500 (down 1.8%). Nationally, existing-home sales rose 2.2% year-over-year to a seasonally adjusted annual rate of 3.99 million. The median price reached $417,500, up 1.3%.
MIAMI REALTORS® + RWorld supports affordability through the RWorld Community Foundation. Over five years, it has contributed $180,000 toward closing costs for low-income South Florida homebuyers. Eligible first-time homebuyers in Broward, Palm Beach, or St. Lucie counties may receive grants of up to $2,500. More details are available at rworldcares.com/closing-costs-grant.
Southeast Florida leads the U.S. in multifamily construction. Florida’s Live Local Act continues to encourage affordable housing development. For $1 million, buyers can purchase about 58 square meters of prime property in Miami. That is significantly more than in Monaco, New York, London, Paris, or Tokyo, according to the Knight Frank Wealth Report 2026.
Elevated mortgage rates (reaching 7.46% by mid-October) continue to affect entry-level and mid-range buyers. However, luxury activity has remained resilient. “We are continuing to see the negative impact of soaring mortgage rates on homebuyers, but upper-end buyers have remained active, with this trend likely to continue through next year as mortgage rates remain elevated,” said MIAMI REALTORS® + RWorld Chief Economist Gay Cororaton.
Read full report here: South Florida Housing Market – Click Here
Read August report here: August Market Report – Click Here
