Miami has one of the busiest luxury housing markets in the country, according to the new Luxury Market Report from Coldwell Banker Previews International.
In 2015, Previews reported, sales of homes priced $5 million and above totaled 43 in Miami. That was a 72 percent increase over 2014, and was the second-highest increase in the nation. Miami performed even better in the $10 million-plus luxury market, where its 13 sales represented a 550 percent increase over 2014 – an increase that was more than double second-place Delray Beach.
Miami’s inventory of luxury properties remains high. As of Feb. 2016, there are 1,654 listings priced $1 million and above; 106 listings priced $5 million and above; and 24 listings priced $10 million and above.
Below are Previews’ rankings for luxury markets with the largest sales increases; click on the tabs to adjust between the $5 million and $10 million market.
| Metro Area | YOY Increase in $5M+ Sales in 2015 | $5 Million+ Sales |
|---|---|---|
| La Jolla | 100% | 28 |
| Miami | 72% | 43 |
| Santa Barbara | 51% | 65 |
| Newport Beach | 30% | 43 |
| Newport Coast | 27% | 33 |
| Aspen | 26% | 86 |
| Naples | 24% | 87 |
| Palm Beach | 19% | 43 |
| Pacific Palisades | 18% | 46 |
| Boca Raton | 10% | 33 |
| Metro Area | YOY Increase in $10M+ Sales in 2015 | $10 Million+ Sales |
| Miami | 550% | 13 |
| Delray Beach | 250% | 7 |
| Newport Coast | 175% | 11 |
| Santa Barbara | 110% | 21 |
| San Francisco | 57% | 11 |
| Palm Beach | 44% | 13 |
| Pacific Palisades | 43% | 10 |
| Laguna Beach | 43% | 10 |
| Naples | 33% | 16 |
| Aspen | 28% | 32 |