South Florida was heavily represented in the top 10 ranks of COMPASS ‘ 2024 Mid-Year Ultra-Luxury Repor t, which tracks home sales of $10 million and up. By the number of sales, Palm Beach and Miami-Dade counties took third and fourth places with 79 and 74 transactions in the first half of the year, respectively, representing year-over-year increases of 46.3% and 21.
3%. Southwest Florida ranked No. 6.
, with 41 sales, a 46.4% jump from 28 transactions in 2023 . By sales volume, Palm Beach and Miami-Dade counties took third and fourth places again, with $1.
59 billion and $1.3 billion of sales, which were up 69% and 28.2% year over year, respectively.
Southwest Florida ranked No. 8 after a 31% rise to $620.1 million.
Nationwide, the number of ultra-luxury homes sold in the first half rose 3.9% year over year to 838 transactions valued at $14.67 billion.
Greater Los Angeles led among all metro areas, with 135 sales representing $2.67 billion, followed by Manhattan with 121 sales worth $2.34 billion and Palm Beach and Miami-Dade counties.
Together, the top 10 markets represented 75% of all sales in the study. Of the top 81 markets covered in the report, 20 experienced increases in ultra-luxury sales. “Premium properties remain timeless, and the findings of this report demonstrate a strong commitment from both buyers and sellers to complete transactions,” said Felipe Hernandez Smith, head of COMPASS Luxury.
“There are exceptional homes nationwide catering to every lifestyle.