Palm Beach’s Luxury Real Estate Market Is Thriving
In case you haven’t heard, the luxury real estate market in Palm Beach is on fire, as UHNWIs and high-profile buyers race to secure a premium slice of the ultra-exclusive tropical paradise.
Home to President Trump’s Mar-a-Lago club, the aristocratic seaside community has seen a dramatic uptick in real estate activity, especially in the ultra-luxury sector. Since the commander-in-chief’s victory in November, the glitzy resort town has experienced an influx of affluent buyers, pushing home sales to record-breaking levels, The New York Post reported. Notable transactions include Fox News host Sean Hannity’s purchase of a $14.9 million townhouse and a spec-built spread across from Mar-a-Lago that sold for $19.5 million.
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In the first month of 2025, the number of single-family home sales in Palm Beach priced at $5 million or more tripled compared to the previous year, according to data from Douglas Elliman. Overall, Palm Beach County’s home sales rose by an astonishing 41 percent year-over-year, with the most significant movement in properties that went for more than $10 million. In January of this year, thirteen homes in this price range were sold, a significant leap from just three in the same month in 2024. This follows a similar spike in late 2024, when 19 homes worth $10 million or more changed hands in November and December, more than tripling the previous year’s figures.
Additionally, according to Realtor.com, the median listing price in Palm Beach has surged by 38.4 percent from November 2020 to November 2024. This rise is primarily driven by a lack of inventory, reinforcing the area’s reputation as one of the most exclusive and sought-after markets in the country.
Wealthy residents and high prices are nothing new in Palm Beach, of course. But much of the market’s current heat can be attributed to its status as a political and cultural focal point tied to the presidency. Margit Brandt of Premier Estate Properties, who handles sales within Mar-a-Lago’s security zone, noted that the area has gained significant international attention, broadening its buyer pool. “Palm Beach is now on the world stage—it’s the center of the universe,” she explained to listing site Mansion Global.
Meanwhile, outside of Palm Beach, things are not quite as rosy. Miami-Dade and Broward counties are seeing a slowdown, with luxury contracts in Miami-Dade halving and Broward seeing minimal increases in sales. Inventory, however, is rising across the board, particularly at the higher end, with the number of listings for homes above $5 million up by more than 60 percent across the three counties.
Complicating matters, entry-level priced homes in the Miami area are vanishing, The Wall Street Journal reported. In December 2024, the median price for a single-family home was $675,000—up 78 percent from 2019. From 2019 to 2024, the number of single-family home sales under $500,000 in Miami-Dade County plummeted by 79.6 percent, as wealthy buyers, many armed with cash, pushed prices to new heights. Homes priced between $500,000 and $1 million, however, saw a 43 percent rise in inventory and a 140 percent increase in sales during the same period, while sales of homes above $1 million surged by 147 percent.
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