Florida Million-Dollar Home Sales Jump 15% as $300,000-to-$399,999 Deals Fall 3.3%
Updated
Updated · Palm Beach Post · May 26
Florida Million-Dollar Home Sales Jump 15% as $300,000-to-$399,999 Deals Fall 3.3%
3 articles · Updated · Palm Beach Post · May 26
2,590 Florida homes priced at $1 million or more sold in April, up 15% from a year earlier, while luxury condo and townhouse sales in that bracket climbed 33.5%.
Sales in the more affordable $300,000-to-$399,999 range moved the other way, falling 3.3% for single-family homes and 3.2% for condos and townhouses, which Florida Realtors called a housing-market bifurcation.
Gasoline prices driven higher by the Iran war are adding pressure on lower- and middle-income households even as wealthier residents benefit from rising markets and keep spending.
Florida's consumer-sentiment gap reflects that split: higher-income households posted an 80.2 reading in April, while lower-income households fell to 58.5.
The divide is being reinforced by Florida's pull for the ultra-wealthy—home to 1.18 million millionaires and gaining about 15,000 net millionaires a year—while affordability strains the state's shrinking middle class.
As billionaires flock to Florida, can the state's economy survive the exodus of its middle class?
What happens when a state's essential workers can no longer afford to live there?
How will the Iran war's oil shock reshape an economy already split between the super-rich and the struggling?
Florida Real Estate 2026: Luxury Boom, Tight Supply, and Affordability Divide Amid 3 Million Population Surge
Overview
Florida's real estate market in early 2026 is marked by strong buyer demand and tightening supply, leading to rising pending sales for both single-family homes and condo-townhouse units. Robust buyer interest is driving activity across the state, but this demand is meeting a shrinking number of new listings, especially in desirable regions. As a result, inventory levels are dropping, making the market more competitive. These trends highlight a dynamic environment where limited supply and high demand are shaping distinct outcomes for different property types, with both luxury and mid-range segments experiencing unique challenges and opportunities.