Headlines say Florida real estate market is crashing – it’s just the opposite.
Today I’m going to take a look at the South Florida luxury real estate market and show how it’s strengthening and gaining momentum.
For the last two and a half years, I’ve been writing about the South Florida luxury real estate market on a quarterly basis. You can see some of my essays here and here.
I like to look at broader trends like what’s happening in different counties, different zip codes, and local communities. I also like to look at what’s happening with buyer and seller behavior. Plus I’ll share my luxury home of the month at the end.
Let’s start with Delray Beach’s Luxury real estate zip code, which is 33483. It’s everything east of the train tracks to the ocean. In this quarter, a few data points jump out.
First is the Months of Supply (MOS). I like to look at this one to determine if it’s a seller’s or buyer’s market. To begin, the definition is anything over six months of supply is a buyer’s market. Below six months is a seller’s market.
As you can see from this two-year chart, months of supply was 6.95 months. Its fallen the last 120 days, so 3.93 months. This is a massive drop in just four months in Delray Beach.
Look at my favorite Days on Market chart. Here is a two year look at the days on market in Delray Beach, and you can tell that it’s going sideways with a slight rise. It doesn’t look good for sellers last month that we closed at 136 days on market. That’s a long time. That’s an average of four months to sell a property.
Look at the number of sold luxury properties in Delray Beach. This is a five-year look, and you can see they were selling between 60 and 80 properties per month. Today, that has fallen between 20 – 40 properties a month. At the same time, you have rising days on markets and over the last five years, we’re selling a lot less luxury properties.
That’s not a good sign for sellers. But South Florida Luxury Real Estate sellers are enjoying the data.
Now look at this. If we continue to see the trend going away from buyers and moving further into a seller’s market, as slow season and rainy season ends in the next 60 days, it’s going to be an interesting high season with less properties to sell and demand returning to the market.
In Delray Beach the year over year median price is up 9.3%. At the same time, the number of properties sold compared to 2024 is down 9.9%.
I like to compare the Delray Beach Luxury Market with the rest of the South Florida luxury real estate market. So, I’m looking at five different communities and zip codes looking at months of supply days on market, as well as the number of units sold year over year.
South Florida Luxury Real Estate Zip Codes
Let’s start with Boca Raton. The 33432 zip code.
The months of supply is 4.29 days on market is 133 days. That’s high. And the sold units is up 14.8%.
The next one is Palm Beach’s 33480 zip code. Months of supply is 4.2 months. Days on market is a high 143 days as well. And the sold units is up 7.1%.
West Palm Beach, 33401. The months of supply, 4.3 months. Days on market is just over three months. And the number of sold units is down 21%. That’s a big number for West Palm Beach.
Now the Pompano Beach, Lighthouse Point, zip code 33064 months of supply. 6.1 months. And the number of units sold is down almost 18%.
Last is Fort Lauderdale by the sea. 33308 months of supply, 7.89 days on market. Again, three months as well as the number of units sold, 9.5 months.
So, what does all this information mean? I interpret it this way – I believe we’re still in a South Florida luxury real estate buyer’s market. Why? Because the days on market is high and the months of supply – even though it’s gone from a strong buyer’s market and shifting into a seller’s market – there’s still just a lot of supply and it’s taking a long time for this inventory to sell.
So, for sellers, you’re liking the data as it’s getting “less bad.” For home buyers, don’t get lazy as the information is changing. We’re going from our rainy, slow season, which is what I call peak buying season. And over the next 60 days, we’re transitioning into high season. That’s when more buyer competition shows up. You don’t want to wait until all the competition is here.
And with a South Florida luxury real estate market that’s heating up, time will go against you.
There’s still lots of inventory. Sellers are still trying to find the market, and it’s still a great time to get in.
So every quarter I’ll share my listing of the month and this one stood out to me. Why? Because it has a lot of sustainable features in it. Take a complete look at this luxury home in Fort Lauderdale By The Sea.
If you’d like to get a tour of this, give me a call. I’ll set up a private tour.
As you saw, the South Florida Luxury Real Estate Boom is real and active. I foresee this sustaining as we enter 2026.
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The South Florida Luxury Real Estate Boom Explained. Luxury is in. South Florida Luxury real estate is booming with signs of getting stronger. Sellers are bullish, buyers are flocking. The luxury real estate market in South Florida shows is a freight train with no brakes.
