T
he luxury real estate market in Palm Beach is experiencing a surge, driven by ultra-high net worth individuals (UHNWIs) and high-profile buyers seeking exclusive properties. The area has seen a significant increase in activity since President Trump's victory, with record-breaking home sales reported. Notable transactions include Fox News host Sean Hannity's purchase of a $14.9 million townhouse and a spec-built spread across from Mar-a-Lago for $19.5 million.

    In the first month of 2025, single-family home sales in Palm Beach priced at $5 million or more tripled compared to the previous year, according to Douglas Elliman data. Overall, Palm Beach County's home sales rose by 41 percent year-over-year, with the most significant movement in properties worth over $10 million. In January of this year, thirteen homes in this price range were sold, a significant leap from just three in the same month in 2024.

    The median listing price in Palm Beach has surged by 38.4 percent since November 2020, driven by a lack of inventory and reinforcing its reputation as one of the most exclusive markets in the country. The area's status as a political and cultural focal point tied to the presidency has contributed to its current heat, with Margit Brandt of Premier Estate Properties noting that Palm Beach is now on the world stage.

    In contrast, Miami-Dade and Broward counties are experiencing a slowdown, with luxury contracts in Miami-Dade halving and Broward seeing minimal increases in sales. However, inventory is rising across the board, particularly at the higher end, with listings for homes above $5 million up by over 60 percent. Entry-level priced homes in the Miami area are vanishing, with the median price for a single-family home reaching $675,000 in December 2024, up 78 percent from 2019.