Miami leads the US luxury real estate market with the most expensive sales
South Florida dominates the U.S. luxury real estate market – and a new report reinforces our reputation as a billionaires' playground.
The Miami metro area had the three most expensive sales in the U.S. last month, according to real estate agency Redfin.
Why it matters: Despite the growing threats of climate change, natural disasters and rising insurance costs, South Florida remains a magnet for the wealthy, Redfin found.
Zoom in: The most expensive home sale in the state in February was a $49 million mansion in Manalapan, the wealthy village south of Palm Beach.
Shock: The most expensive listing in the US today, as of last week, is a $285 million complex facing the Atlantic Ocean and the Intercoastal Waterway, also in Manalapan.
The yet-to-be-built project will include an eight-bedroom main house on the Intercoastal and a smaller beach house connected by a tunnel crossing South Ocean Boulevard, according to the Palm Beach Daily News.
The four-acre complex – adjacent to property owned by billionaire Oracle founder Larry Ellison – will include a private dock, a shooting range and a private car museum, according to the listing.
By the numbers: Palm Beach County had four of February's most expensive sales in the U.S., tying up the top three spots with a $48 million mansion in Jupiter and a $40 million mansion on Palm Beach's Billionaires Row.
Miami Beach's North Beach neighborhood came in at No. 5 with a $35.6 million beachfront residence in Altos del Mar and No. 10 with its $31 million Allison Island digs.
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