Palm Beach County on Pace to Shatter Record for $30 Million-Plus Home Sales
Palm Beach County is on track to shatter its annual record for $30 million-plus home sales, according to September 2026 statistics released today by MIAMI REALTORS® + RWorld, the MIAMI MLS, and BeachesMLS.
Through September 2026, Palm Beach County recorded 21 single-family home and condominium sales of $30 million or more, tying the county’s total for all of 2025. At the current pace, Palm Beach County is projected to record 28 sales of $30 million or more by year-end, surpassing its previous annual record by 27%.
“Palm Beach County leads the nation in cash purchases, with about one in every two home sales paid for in cash. That speaks to the strength of the market and the confidence buyers have in this region,” MIAMI REALTORS® + RWorld Palm Beach Regional Vice President Stacy Plean said.
Top Palm Beach County rankings/stats:
West Palm Beach ranked No. 1 All-Cash Home Buying Market in the U.S. via Redfin
Palm Beach ranked No. 3 in the world in prime property price growth in the last five years via Knight Frank Wealth Report 2026
West Palm Beach ranked No. 2 in America’s Fastest-Growing Millionaire Hub via USA Wealth Report 2025.
Record Set for Most Palm Beach County $10M and up Annual Home Sales
Palm Beach County has recorded 179 $10M and up single-family and condominium sales this year through Oct. 14, 2026, the most in a calendar year in county history.
Total home sales decreased 3.3% year-over-year in September 2026, from 1,980 to 1,914. Condo transactions declined 4.28% year-over-year, from 817 to 782. Single-family home sales decreased 2.67% year over year, from 1,163 to 1,132.
The decrease reflects mortgage rates rising nearly 0.6 percentage points since early September to 7.46%, limited inventory in certain price ranges, and uncertainty before and following Florida’s Oct. 6 state of emergency ahead of Hurricane Isaias. Although South Florida was not among the 29 affected counties, hurricane threats can delay mortgage approvals, loan funding, and real estate closings.
The sales total doesn’t include South Florida’s new construction, pre-construction and condo conversion sales because they are largely not reported in the MLS. But MIAMI led the charge to publish two new construction reports.
International buyers purchased 49% of new South Florida construction, pre-construction, and condo conversion sales over an 18-month period ending in July 2025, according to MIAMI REALTORS® first-ever New Construction Global Sales Report in collaboration with industry leaders.
Our second New Construction Global Sales Report, published in November 2025, showed an increase in global sales and buyers from 73 countries, according to the MIAMI REALTORS® November 2025 Global Sales Report in collaboration with industry leaders.
The lack of Federal Housing Administration loans for many existing Miami condominium buildings is preventing further market strengthening. Of the 2,397 condominium buildings in Miami-Dade, Broward, and Palm Beach counties, only 21 are approved for FHA loans, according to statistics from the U.S. Department of Housing and Urban Development.
Just 0.9% of South Florida condo buildings are approved for FHA loans.
Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on Aug. 3, 2026. For decades, Florida condominium borrowers and owners faced stricter lending standards and higher financing hurdles than those in many other states. The updated guidelines are expected to create a more transparent and financially secure lending environment.
Palm Beach County Condominium Sale Prices Have Appreciated 244% Since 2010
Palm Beach County condo prices have increased 244.4% since 2010, from $90,000 to $310,000. South Florida condos are a long-time national leader in price appreciation.
Palm Beach County condo prices increased 3.33% year-over-year in September 2026, from $300,000 to $310,000. Condo inventory is declining year-over-year, which will put upward pressure on prices.
Palm Beach County single-family home median sale prices increased 6.67% year-over-year in September 2026, from $615,000 to $656,000.
Palm Beach County single-family prices have risen 191.6% since 2010, from $225,000 to $656,000.
MIAMI + RWorld Offering First-Time Homebuyer Grants to Support Housing Affordability
MIAMI REALTORS® + RWorld supports its community through two foundations, including the RWorld Community Foundation, which is committed to expanding access to homeownership and helping families achieve financial stability. Over the past five years, the RWorld Foundation has contributed $180,000 toward closing costs for low-income South Florida homebuyers, helping reduce the upfront financial barriers to purchasing a home.
The RWorld Community Foundation offers eligible first-time homebuyers purchasing a residence in Broward, Palm Beach, or St. Lucie County grants of up to $2,500 toward closing costs. Grant guidelines include: applicants must be first-time homebuyers or have not owned a home in the past three years, must be employed, and have low-income levels as defined by the Florida Bond Program. More info: https://rworldcares.com/closing-costs-grant
MIAMI REALTORS® + RWorld continues to support cross-sector stakeholder solutions – like removing obstacles to permitting and zoning, funding the Florida Hometown Heroes Program, and creating pathways for accessory dwelling units (ADUs) – to facilitate both the creation and preservation of safe and affordable housing.
Miami’s surging multifamily market and the Florida Live Local Act should boost affordability in the future. Southeast Florida ranks No. 1 in the U.S. for most multifamily construction, according to MIAMI REALTORS® Research. This is important because it adds more overall housing/apartment supply to a city, creates more affordability, and adds to Miami’s economic growth.
Florida’s Live Local Act, which was passed in 2023 and amended in May 2024, is encouraging developers to build more affordable housing. The Live Local Act gives developers the highest density allowed in a local area if they allocate 40% of their units for affordable housing. The state law defines an affordable unit as being at or below 120% of an area’s median income.
Miami remains a bargain in comparison to other global cities. For $1M, homebuyers can purchase 58 square meters of prime property in Miami, according to the 2026 Knight Frank Wealth Report. That is almost four times more than Monaco (16 square meters), nearly two times more than New York (34) and London (33), and more than Paris (37) and Tokyo (37) and more.
Elevated Mortgage Rates Climb Impacting Home Sales
Mortgage rates have risen nearly 0.6 percentage points since September 1, 2026, to 7.46% as of Oct. 13, 2026. Home sales are sensitive to mortgage rate increases.
A combination of inflationary pressures, federal debt, and competition for investor capital is keeping rates elevated.
“We are continuing to see the negative impact of soaring mortgage rates on homebuyers, but upper-end buyers have remained active, with this trend likely to continue through next year as mortgage rates remain elevated,” MIAMI REALTORS® + RWorld Chief Economist Gay Cororaton said.
Total Palm Beach County Inventory Declines for Eighth Consecutive Month
Total active listings at the end of September 2026 decreased 17.2% year-over-year, from 12,490 to 10,339. Decreasing supply means more buyer competition and upward price pressure.
Inventory of single-family homes decreased 19.64% year-over-year in September 2026, from 5,576 active listings last year to 4,481 last month.
Condo inventory declined for the eighth consecutive month. Condominium inventory decreased 15.27% year-over-year in September 2026, from 6,914 to 5,858 listings during the same period in 2025, but the total is still significantly below pre-pandemic.
Months’ supply of inventory for single-family homes is 3.6 months, which indicates a seller’s market. Inventory for existing condominiums is 6.8 months, which indicates a balanced market. A balanced market between buyers and sellers offers between six and nine months’ supply.
Nationally, total housing inventory is 1.60 million units, according to NAR. That is up 4.6% from September 2025. There is a 4.8-month supply of unsold inventory, up from 4.5 months a year ago.
Palm Beach County Real Estate: $246 Million in Local Economic Impact
Every time a home is sold, it impacts the economy: income generated from real estate industries (commissions, fees, and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing-related expenditures (income earned as a result of a home sale is re-circulated into the economy), and new construction (additional home sales induce added home production).
The total economic impact of a typical Florida home sale is $129,000, according to NAR. Palm Beach County sold 1,914 homes in September 2026 for a local economic impact of $246 million.
Palm Beach County total dollar volume increased 13.03% year-over-year in September 2026 to $1.9 billion.
Single-family home dollar volume increased 17.59% year-over-year to $1.5 billion. Condo dollar volume decreased 0.81% year-over-year to $396 million.
Palm Beach County Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 1.2% of all closed residential sales in Palm Beach County were distressed last month, including REO (bank-owned properties) and short sales.
Short sales and REOs accounted for 0.4% and 0.8%, respectively, of total Palm Beach County sales in September 2026.
State & National Sales
In Florida, closed sales of single-family homes statewide totaled 20,537 in September 2026, down 3.5% year-over-year, while existing condo-townhouse sales totaled 7,179, down 0.1%.
The statewide median sales price for single-family existing homes was $415,000, up 1.2% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $293,500, down 1.8% vs. last year. The median is the midpoint; half the homes sold for more, half for less.
Nationally, total existing home sales increased 2.2% year-over-year to a seasonally adjusted annual rate of 3.99 million, according to NAR. Median existing home prices increased to $417,500, up 1.3% from one year ago ($412,300) – the 39th consecutive month of year-over-year price increases.
Palm Beach County Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 95% in September 2026. The median percent of original list price received for existing condominiums was 93%.
The median number of days between listing and contract dates for Palm Beach County single-family home sales was 43 days, up from 51 days last year. The median time to sale for single-family homes was 83 days, up from 90 days last year.
The median number of days between the listing date and contract date for condos was 53 days, up from 65 days. The median number of days to sale for condos was 98 days, up from 105 days.
Palm Beach County Cash Sales More Than National Figure
Cash sales represented 51.4% of Palm Beach County closed sales in September 2026, compared to 51.3% in September 2025. About 27% of U.S. home sales are made in cash, according to the latest NAR statistics.
Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects South Florida’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash, as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.
Cash sales accounted for 61.1% of all Palm Beach County existing condo sales and 44.6% of single-family transactions.
To access September 2026 Palm Beach County Statistical Reports, visit http://www.SFMarketIntel.com
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About MIAMI REALTORS® + RWorld
MIAMI REALTORS® + RWorld was chartered by the NATIONAL ASSOCIATION OF REALTORS® in 1920, and is celebrating 106 years of service to REALTOR® members, the buying and selling public, and the communities in South Florida. Composed of eight boards: MIAMI RESIDENTIAL, COMMERCIAL; BROWARD; JTHS; PALM BEACH; TREASURE COAST; YOUNG PROFESSIONALS NETWORK (YPN); and the Corporate Board of Directors. MIAMI REALTORS® + RWorld represent approximately 93,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local REALTOR® association in the world and has official partnerships with 307 international organizations worldwide. MIAMI REALTORS® + RWorld, along with their respective Multiple Listing Services, MIAMI MLS and BeachesMLS, merged on May 11, 2026, in the largest merger in NAR history. The organization’s proposed new name will be Miami and South Florida REALTORS®, pending approval by NAR. MIAMI’s official website is www.MiamiRealtors.com. RWorld’s official website is www.RWorld.com