“South Florida By the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
Summer tends to be a quiet time for South Florida real estate sales (especially in election years), but the luxury single-family home sector across the region has been roaring in recent weeks. From Coral Gables to Lighthouse Point to Palm Beach, eager buyers have signed off on several double-digit million-dollar deals this month alone, often setting pricing records in the process. Is this the start of a new trend, or a momentary outlier in a market that is still tough to predict? We explore some recent big-ticket sales in this edition of “South Florida by the numbers.”
$51.6 million
Price of a lakefront Palm Beach mansion sold to an unknown buyer, purchased by the previous owners for $29.9 million in 2015. Built in 1952 on 0.9 acres, the 10,100 square-foot mansion has seven bedrooms, seven bathrooms, one half-bathroom, a pool and a dock. The timing of the sale is especially unusual for Palm Beach, but further underscores a luxury market that gained momentum in late spring. [TheRealDeal]
$34.4 million
Price of a recently sold Sunset Islands spec home in Miami Beach, just shy of the neighborhood’s record $36 million threshold. The sellers purchased a teardown on the site for $11.2 million in 2021, and completed the new 8,000-square-foot mansion earlier this year. [TheRealDeal]
$17.3 million
Price of a 7,800-square-foot, five bedroom and five and one-half bathroom mansion sold earlier this month by Master Brokers Forum members Susan Nelson and John Putzig, making it the most expensive home ever sold in Lighthouse Point. The previous owner bought the property for $2 million in 1997, according to Redfin. [TheRealDeal]
$17 million
In yet another spec home success story, a 1.1-acre Old Cutler Road site in Coral Gables purchased for $1.8 million in 2020 recently sold for $17 million. The buyers (flooring heir Thomas Peck and his wife Jill Barnes) acquired the 8,200-square-foot, seven-bedroom, nine-bathroom mansion completed last year, which was originally listed for $22 million in 2022. [TheRealDeal]
$16 million
Price of a Bay Point waterfront home in Miami sold earlier this month by Master Broker Ana Teresa Rodriguez; a 6,200-square-foot home built on half of an acre in 2015, with seven bedrooms, six bathrooms, one half-bathroom, a pool and a dock. The home was purchased for $7.3 million in 2015, and originally listed for $23.5 million before the buyer and seller (both financial services professionals) agreed on the price. [TheRealDeal]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.