Luxury Demand Fuels South Florida's Home Sales Growth Amid Condo Market Struggles

In May 2026, Broward County’s housing market continued on its steady upward trend. Home sales in the County went up 0.9% year over year and marked the third consecutive month of increased sales. This was reflected by an increase in total sales to 2,145 compared to 2,124 sales in May of the previous year.

Single family homes continued their upward momentum increasing 3.2% year over year with 1,146 sales recorded in May 2016. This steady demand, in the absence of adequate supply, should continue to propel prices upward in the short term. Conversely, condominium sales dropped 1.5% with 999 sales recorded throughout the county in May 2016. As the median price for condos remained constant at $275,000 year over year, a decline in volume in isolation does not indicate a decline in prices for condominiums throughout the county. Nevertheless, it is worth noting an decline in sales for the multifamily residential inventory.

Luxury, as measured by homes for sale priced at $1 Million and above, saw a huge jump of 17.6% over May 2025 sales and is now the hot ticket item in Broward real estate. Coastal and very affluent inland communities are enjoying the greatest demand from these very high-end buyers.

Notable to note is that the lower-priced condos priced between $400,000 and $500,000 experienced a 12% increase in volume of sales year over year. This could be selective buying, as overall volume of condo sales is going down.

In terms of prices, they have remained, for the most part, flat with a slight to marginal increase. In terms of single family homes the median price for the year increased 0.8% to $630,000 for the year, and in terms of condominiums the median price remained flat at $275,000 for the year.

Note also the long term appreciation in both single family and condominium housing, with condominium housing prices doubling since 2010, appreciating 104% in that time frame and single family home prices appreciating 126.2% since 2008. Much of this long term appreciation indicates a continued growth in real estate values and can be used to help assist in making decisions regarding future growth and potential affordability issues.

However, inventory of condos under offer declined on a yearly basis while single family homes under offer increased on a yearly basis. Thus, as demand remains stable for single family homes, renewed price growth is anticipated, especially for high end single family homes and well renovated and updated properties in highly sought after locations. Condo supply on the other hand is expected to affect prices positively in the short term.

Thus we see that while there are sectors of Broward real estate such as luxury homes and single family homes continuing to rise at levels of strength, as well as appreciation of value, the majority of the Condominiums of the county have fallen off dramatically and are truly in the tank. Thus we can definitely see that while Condominiums, as a class, are falling dramatically, there are individual sections of real estate within the overall class, which have fallen and are continuing to fall dramatically, and need to be watched carefully. So, one must always be careful when looking at numbers for individual sections, within a large class, such as for example the Condominiums of Broward, in which are continuing to fall dramatically in terms of numbers of sales as well as appreciation of value.

The Smart Money Move:

1. Invest in the strongest segments of the market, the luxury homes and single family homes, in the strongest performing locations in Broward County.
2. The volume of sales of units in the $400,000-$500,000 price range for condominiums increased by 12% this year compared to last year.
3. Use portals where one can get real time local data by means of their own real estate data portals i.e. the Miami Association of Realtors to get information on inventory & recent transactions before making any weightings changes to a portfolio.
4. Be cautious of poor performing properties in weaker locations in the market, whether an older building or a project with inferior design features, in an environment of high interest rates and ever increasing selectivity by buyers for alternative housing options with greater value for money.

Luxury performance in Broward is not just about price tags but reflects changing buyer preferences and strategic asset repositioning. Conversely, the condo market’s recent softness could turn into opportunity if constrained supply drives scarcity premiums.

The question for investors concerned about falling sales volumes in the condo market is whether the present price levels will continue to hold if, instead, sales were to start rising again in the near term. Those not paying attention to this diverging pattern may find that they have missed an important turn of events for individual property types.

Final Perspective:

Looking into product lines within the housing market is important today as it is becoming more fragmented, with demand meeting scarcity in some product lines and not in others. The Single Family Homes and Luxury real estate sectors in Broward are areas of growth that can give the Dubai investor an idea of where to look within their own real estate markets, specifically in up and coming areas within established sub-markets of high demand where lack of supply of quality housing exists. In contrast, the Condominium market in Broward, as previously noted, is going through changes which are creating opportunities for smart investors in sectors of the market with supply constraints creating scarcity premiums. The important thing for the smart investor is to clearly understand where and how this is playing out in order to effectively and prudently invest in the local real estate market, segment by segment.