M
iami's year-round sunshine comes with a hefty price tag, but deep-pocketed buyers are willing to pay in cash. According to Realtor.com data, over half of homes priced above $1 million in the Miami metro area are being sold for cash.

    In Miami, 53.5% of homes between $1 million and $5 million are trading for cash, with this number increasing significantly at higher price tiers. For example, nearly 59% of homes selling for $10 million or more are all-cash deals.

    High-net-worth buyers have the luxury of easy access to funds, making cash transactions an attractive option when mortgage rates are high and markets are uncertain. Luxury realtors across the country report that more high-end homebuyers are opting for cash over traditional financing.

    Miami's luxury market is highly polarized from the broader market, with billionaires flocking to exclusive enclaves like Star Island. Experts say Miami homebuyers want turn-key properties in prime locations, and cash transactions have become increasingly common. In the first half of 2025, 83% of condo sales above $2,000 per square foot were all-cash deals.

    Celebrities, hedge-funders, and oligarchs also prefer cash to shield their purchases from public scrutiny. Despite this stealth strategy, some high-profile cash deals have made headlines, including a $34 million Miami beach mansion sold in just one day.

    Miami's wealthiest residents don't seem to mind lengthy listings, with million-dollar properties spending a median of 96.5 days on the market in July – the longest listing time among the country's twenty priciest metros.