#United States #Miami #Real Estate #Dade County

South Florida's Record-Breaking $10M Home Sales in 2025

The real estate market in South Florida witnessed a remarkable surge in 2025, recording the second-highest number of home sales priced at $10 million and above in recent history. According to the data from the MIAMI Association of Realtors, Miami-Dade County experienced a significant increase in luxury home transactions, surpassing previous years and cementing its status as a hotspot for affluent homebuyers.

In total, South Florida reported 361 transactions of homes valued at $10 million or more last year, trailing only 2021's record of 444 transactions, which were fueled by a pandemic-induced buying frenzy. This impressive figure translates to nearly one ultra-luxury home sale per day and represents a twofold increase compared to 2020, showcasing Miami's growing appeal among the wealthy.

"The surge in ultra-luxury home sales highlights a notable migration of wealth to South Florida," stated Alfredo Pujol, Chairman of the Board of MIAMI. High-profile individuals, including billionaires like Google co-founders Larry Page and Sergey Brin, are attracted not just by the favorable tax environment but also by the burgeoning FinTech sector, desirable climate, and lifestyle offerings of Miami.

Projections for Continued Growth

The market fundamentals suggest further growth in 2026. Florida's population continues to rise, gaining a new taxpayer approximately every two minutes while California sees a decline. Miami's job market also remains robust, with a 9.5% increase in non-farm employment from August 2019 to August 2025, surpassing the national rate of 5.5%.

Moreover, Miami is a leader in multifamily housing permits, ranking seventh nationally with 10,695 units authorized in the year ending August 2025 - a 43.9% year-over-year increase. The influx of wealthy individuals moving out of state is also significant, with reports indicating that job movers from areas like Washington and California command higher salaries than in-state job switchers.

Increasing Home Sales Across All Listings

Expanding beyond the ultra-luxury segment, Miami-Dade County saw an overall increase in home sales, with transactions of properties priced at $1 million and above rising by 5.9% year-over-year in December 2025, climbing from 1,764 to 1,869 units. Notably, single-family home sales in this price bracket rose by 12%, while condo sales increased by 2.45% during the same period.

Unfortunately, the reported sales do not encompass new constructions, as many are not captured in the Multiple Listing Service (MLS) data. Nonetheless, MIAMI has taken the initiative to publish reports focusing on new constructions, highlighting the shift in buying patterns. A significant 49% of new construction sales were attributed to international buyers over an 18-month interval ending in July 2025.

A Look at Price Trends

Miami's real estate scene is also characterized by impressive price appreciation. Single-family home prices showed a decline of 2.22% year-over-year in December 2025, yet median home prices have increased a staggering 144.8% over the past decade. Meanwhile, the price of condominiums experienced a 102% appreciation from December 2015 to December 2025.

Despite a slight dip in the median prices of existing condos, Miami remains a more affordable market compared to other major global cities. For instance, with $1 million, a buyer can acquire 58 square meters of prime real estate in Miami, which is a stark contrast to more cramped options in places like Monaco or New York.

Economic Impact of the Real Estate Surge

The ongoing real estate boom in Miami has far-reaching implications for the local economy. Each home sale contributes approximately $129,000 to the economy, factoring in costs related to real estate commissions, moving expenses, and additional purchases like furniture. Based on recent data, Miami-Dade's economic impact from home sales reached a staggering $241 million in December 2025 alone.

This growth is further reinforced by the increasing home equity gains in Miami, which are nearly double the national average. Home equity gains for a single-family home purchased in Q4 2009 and sold in Q4 2024 are reported at $555,900, in stark comparison to the national average of $306,600.

Looking Ahead

As we move further into 2026, the Miami real estate market is anticipated to maintain its competitive edge, bolstered by declining mortgage rates and a resilient job market. The latest figures indicate that mortgage rates have reduced significantly from above 7% in early 2025 to around 6.19% by December.

With a decrease in active listings—17% below pre-pandemic levels—combined with a balanced market for single-family homes, Miami is poised for yet another bullish year in real estate. As opportunities continue to arise, both local and international buyers may find themselves competing for prime real estate in this sun-kissed metropolis once referred to as the “city of the future.”