The Miami luxury property market is thriving, with 194 home sales of $10 million or more recorded in the first eight months of 2026, surpassing last year's total of 170. This trend suggests that sales could reach approximately 291 by year-end, exceeding the previous record of 230 set in 2021.
Miami leads the U.S. in cash buyers, with 82% of condo sales over $1 million being all-cash transactions in 2025. UBS attributes the market's resilience to this high cash transaction rate, which mitigates the impact of rising financing costs and lowers bubble risk.
Although inflation-adjusted home prices fell by 1.6% year-over-year due to high borrowing costs affecting non-luxury segments, the luxury market remains robust. The entry of brands like Bugatti into residential developments further underscores Miami's appeal as a luxury destination.
Jay Roberts, CEO of Prosper Group, emphasized Miami's status as a hub for wealth migration, suggesting continued demand for high-end properties. Overall, while challenges exist in the broader market, the luxury segment in Miami is poised for sustained growth, attracting affluent buyers and high-profile developments