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Fla. cities at top of luxury home list

 

MIAMI – April 12, 2016 – America's top cities and ZIP codes for luxury home listings and sales kept a stable pace of growth over the last year, according to Coldwell Banker Previews International's latest annual Luxury Market Report.

Florida cities landed in the most top spots for high-priced real estate, with luxury sales posting double-digit growth in Miami, Naples and Palm Beach. Two cities – Lake Worth and Wellington – also landed in the top 20 list for luxury home sales worth $10 million or more for the first time.

The uptick in luxury sales occurred across the country, though certain pockets showed the highest increases. In Austin, Texas, for example, sales of $1 million-plus homes last year jumped 32 percent year-over-year thanks to an increase in its tech and entertainment industries.

However, Fort Lauderdale followed closely behind with a 31 percent increase in $1 million-plus home sales, and Seattle saw a 30 percent increase.

Closed sales

$1,000,000-plus home sales: Florida cities in top 208. Naples (1,135 sales with a 93% average list price to sales price ratio)
10. Miami (1,007 with a 92% ratio)
14. Fort Lauderdale (789 with a 90% ratio)
18. Miami Beach (650 with a 92% ratio)

$5,000,000-plus home sales: Florida cities in top 204. Miami Beach (95 sales with a 91% average list price to sale price ratio)
5. Naples (87 with a 92% ratio)
12. Palm Beach (43 with an 89% ratio)
13. Miami (43 with an 89% ratio)
18. Boca Raton (33 with an 88% ratio)

$10,000,000-plus home sales: Florida cities in top 205. Miami Beach (25 sales with a 90% average list price to sale price ratio)
8. Naples (16 with an 89% ratio)
10. Palm Beach (13 with an 87% ratio)
11. Miami (13 with an 87% ratio)
17. Delray Beach (7 with a 90% ratio)
19. Wellington (7 with a 76% ratio)
20. Lake Worth (6 with an 89% ratio)

Listings

$1,000,000-plus listings: Florida cities in top 202. Miami (1,654 listings)
3. Miami Beach (1,473)
4. Naples (1,146)
9. Fort Lauderdale (878)
10. North Miami Beach (810)
13. Boca Raton (662)
18. Sarasota (455)

$5,000,000-plus listings: Florida cities in top 202. Miami Beach (365 listings)
6. Naples (120)
7. Miami (106)
11. North Miami Beach (91)
12. Boca Raton (87)
13. Palm Beach (81)
15. Fort Lauderdale (75)
18. Key Biscayne (52)

$10,000,000-plus listings: Florida cities in top 202. Miami Beach (152)
9. Naples (33)
10. Palm Beach (33)
13. Miami (24)
14. North Miami Beach (22)
17. Boca Raton (18)
18. Key Biscayne (18)
19. Fort Lauderdale (18)

The complete report with a ranking of all U.S. cities is available online.

© 2016 Florida Realtors®