realestate

Miami tops US luxury real estate market with record-breaking home sales

South Florida continues to attract affluent residents and investors.

S
outh Florida's allure for the ultra-wealthy remains unbroken, despite growing concerns over climate change and rising costs. The Miami metropolitan area has solidified its position as a billionaire's playground, with three of the top four most expensive home sales in the US last month, according to Redfin.

    A $49 million estate in Manalapan, a village south of Palm Beach, took the top spot for the nation's most expensive home sale in February. Meanwhile, a staggering $285 million compound is currently listed on the market, boasting an eight-bedroom main house and a beachside retreat connected by a tunnel crossing South Ocean Boulevard.

    This forthcoming project, situated on four acres in Manalapan, promises to be a true luxury oasis. The property will feature a private dock, shooting range, and car museum, nestled next door to billionaire Larry Ellison's own estate. Palm Beach County claimed an impressive four of February's top sales, with a $48 million Jupiter mansion and a $40 million Palm Beach estate on Billionaires Row taking the top two spots.

    Miami Beach's North Beach neighborhood also made its mark, with a $35.6 million beachfront abode in Altos del Mar ranking fifth and a $31 million Allison Island property coming in at tenth.

Miami luxury real estate market leader with record-breaking home sales in Florida.