South Florida's Luxury Real Estate Market Thrives: $1 Billion in Sales and Record-Breaking Deals

South Florida's luxury real estate market began 2026 with a flurry of activity, showcasing the region's resilience and appeal to high-net-worth individuals. The latest figures from Related Group, Miami's leading condo developer, revealed that between September 2025 and early December 2025, they sold over $450 million worth of condos. This impressive figure is expected to grow as they complete 1,500 units in various projects, including The Crosby at Miami Worldcenter and Nomad Residences Wynwood, between October 2025 and March 2026 (Source 1). As the market's momentum continued, a group of investors secured a pending contract to sell their non-waterfront Miami Beach home for nearly $18 million, marking the most expensive of seven contracts signed in Miami-Dade County between December 29, 2025, and January 4, 2026 (Source 2). The property, which had spent an average of 68 days on the market, underscored the demand for luxury properties in the area. Meanwhile, luxury homebuilder Alex Pirez, the founder of Mocca Group and Mocca Realty, sold his waterfront Gables Estates mansion for $55 million in a previously unreported deal that closed earlier in the year (Source 3). The 16,000-square-foot estate, located at 340 Leucadendra Drive in Coral Gables, featured nine bedrooms and eleven-and-a-half bathrooms. While the sale was recorded for $9 million, sources confirmed the actual sale price was significantly higher. The luxury market's strength was further emphasized by Oak Row Equities and Vlad Doronin's OKO Group, who paid $520 million for a bayfront Brickell property, marking the biggest development site sale in Miami and likely the state (Source 4). This record-breaking deal in the financial district underscored the district's appeal and its insulation from the economic headwinds affecting much of the tri-county region and the nation, including elevated interest rates. Despite this promising start, some lenders remain cautious, as South Florida has experienced the sting of economic downturns in the past. However, the market's robustness and the confidence of developers and investors alike suggest that South Florida's luxury real estate market will remain a vital and thriving sector in 2026 and beyond. SOURCES: - Related’s Nick Pérez on the state of South Florida’s condo market - $18M Sunset Islands deal tops pending contracts at year’s start - Luxury home developer Alex Pirez sold his Gables Estates mansion for $55M - Map: Inside Miami’s biggest dev site sales following record $520M Brickell deal