The Luxury Record Just Broke — With Four Months to Spare

Through August of this year, Palm Beach County closed 170 home sales at $10 million or more — already past the full-year record of 169. At the current pace, the county is projected to finish the year around 255 such sales, more than 50% above the old mark.

That is not a hot streak. That is wealth migration, sustained over years, and it keeps choosing Palm Beach County.

Cash doesn't care about rates

48.1% of every closed sale in the county was paid in cash — nearly double the national share. For condos, it's 57.2%. This is why well-priced homes keep moving while overpriced ones sit: the money is here, but it is disciplined.

One county, two markets

Single-family homes sit at 3.5 months of supply — firmly a seller's market, with a $650,000 median price. Condos carry 6.7 months — balanced territory, buyers holding real leverage, median at $300,000.

For condo owners, especially in older buildings, the building's financials matter as much as the unit: reserves, assessments, and lender scrutiny decide deals before price does. For condo buyers, this is the most negotiating power the county has offered in years.

The rest of the picture

• Total inventory fell 20.1% year over year — the seventh straight monthly decline.
• Distressed sales sit at just 1.4% of closings. This is a healthy market, not a fragile one.
• Sellers received 95% of original list price on single-family homes, 93% on condos — pricing it right from day one still pays.
• Palm Beach ranks #3 in the world for prime property price growth over the last five years.

What it means for you

If you're selling luxury, the buyer pool is deeper and more liquid than it has ever been. If you're selling a condo, preparation and sharp pricing carry the day. If you're buying, know which of the two markets you're walking into — the strategy is completely different.

That's what 18 years in Palm Beach County teaches you: the county number never tells the whole story. The building, the street, and the price band do.

Market data: MIAMI Realtors + RWorld / BeachesMLS, August 2026 county statistics. Analysis and commentary are the author's own.