Miami has officially entered a new phase of its luxury real estate evolution. According to a newly released Miami Super Prime Market Report, the region has set an all-time record for residential sales above $30 million, with one full quarter still remaining in 2025. The data signals that Miami is no longer an emerging luxury market but a global leader in ultra-prime real estate.
Miami Ultra-Prime Market Study …
The report shows that sales above $30 million are now sixteen times higher than they were in 2018. What was once considered an impossible price point for South Florida has become part of the new normal. Analysts point to sustained global wealth migration and extreme supply constraints as the primary drivers behind this shift.
As of July 2025, Miami surpassed both New York City and London as the world’s leading destination for ultra-high-net-worth second home buyers. This milestone reflects a broader realignment of global wealth toward cities that offer safety, lifestyle advantages and long term upside. Miami has become a preferred destination for entrepreneurs, investors and globally mobile families who are relocating capital along with their primary and secondary residences.
One of the most striking trends highlighted in the report is pricing growth at the very top of the market. Miami-Dade condominiums trading above $3,000 per square foot are up more than 500% compared to 2018, while single-family homes at the same threshold have increased by more than thirty fold. Many new luxury projects are now clearing even higher levels which suggests that resale data may be understating the true pace of appreciation.
Cash is King
Cash remains king in this segment. More than 80% of super prime transactions are all cash purchases reinforcing the financial strength of today’s buyer pool and reducing exposure to traditional lending cycles. At the same time, inventory has failed to keep pace with demand, particularly for waterfront and oceanfront properties where new supply is virtually impossible to create.
The report also highlights Miami’s continued pricing advantage on a global scale. Compared to other major luxury hubs, buyers in Miami still receive more space per dollar than in cities like New York, London or Hong Kong. Analysts caution that this pricing gap is already narrowing as record sales at higher price per square foot levels become more common.
Geographically, the epicenter of ultra-prime activity continues to be the so called “Billionaire’s Triangle” which includes Indian Creek, Bal Harbour and Surfside. Indian Creek alone contains just forty-one waterfront homes and recent sales above $100M have established new valuation benchmarks for the entire corridor. Nearby luxury condominium resales are now consistently reaching $4,000-$6,000 per square foot.
Despite the dramatic numbers, the report concludes that Miami’s super prime market is still in its early stages. The forces driving demand including global wealth, domestic growth, international migration and long term supply scarcity are structural, not temporary. Analysts believe these dynamics will continue to shape Miami’s luxury landscape for years to come.
For buyers, sellers and investors the message is clear. Miami has crossed into a new tier of global real estate markets and the data suggests that this transformation is far from finished
DOWNLOAD | Miami Ultra-Prime Market Study Report
Michael Light is a recognized expert in the luxury real estate industry in Miami with more than 16 years of experience advising buyers, sellers and investors across the city’s most exclusive waterfront and ultra-prime markets. His long standing market knowledge and on the ground insight make him a trusted resource for navigating Miami’s evolving high end real estate landscape.
If you are interested in a learning more about the Miami market, please contact Michael Light, Executive Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at 786.566.1700 or michael@miamiluxuryhomes.com.