Palm Beach County Luxury Detached Home Market Update – $5 Million+ – July 2026

Tom Dunphy Realtor | Fulton Grace Realty
Licensed Florida Real Estate Sales Associate
TomDunphySellsRealEstate.com

Thomas J. Dunphy III
Florida State-Certified Residential Real Estate Appraiser – RD8755
APPRAIS

Palm Beach County Luxury Detached Home Market Update – $5 Million+ – July 2026

Palm Beach County contains one of Southeast Florida’s most diverse luxury detached-home markets, ranging from oceanfront and Intracoastal estates to golf-course residences, equestrian properties, newer construction, waterfront homes, and custom residences in some of the county’s most recognized communities.

For purposes of this market analysis, the luxury detached-home market is defined as detached residential properties priced at $5,000,000 or more.

The July 2026 data presents an interesting picture.

Settled sales and the monthly absorption rate have increased substantially. Active inventory has also increased, yet months of housing supply has declined considerably because properties are being absorbed at a faster pace.

Median sale prices remain within the general range observed over the past year, while both sale and listing marketing times have declined.

Overall, the available data supports a stable luxury detached-home market with several indicators reflecting increased market activity.

Market Overview

Settled Sales

There were:

  • 177 settled sales during the prior seven-to-twelve-month period

  • 146 settled sales during the prior four-to-six-month period

  • 192 settled sales during the current three-month period

The current three-month period recorded more settled sales than the entire prior seven-to-twelve-month reporting period, despite covering only half as much time.

That represents a substantial increase in transaction activity.

Absorption Rate

The monthly absorption rate increased throughout all three reporting periods:

  • 29.50 sales per month — prior seven-to-twelve months

  • 48.67 sales per month — prior four-to-six months

  • 64.00 sales per month — current three months

The current absorption rate represents the fastest monthly sales pace reported during the periods analyzed.

Active Inventory

Active listings increased from:

  • 277 listings — prior seven-to-twelve months

  • 314 listings — prior four-to-six months

  • 331 listings — current three months

Buyers therefore have more $5 million-plus detached properties available to consider.

However, inventory alone does not tell the entire story.

Months of Housing Supply

Despite the increase in active listings, months of housing supply declined considerably:

  • 9.39 months — prior seven-to-twelve months

  • 6.45 months — prior four-to-six months

  • 5.17 months — current three months

This is an important distinction.

Inventory increased, but the pace of sales increased even faster. As a result, the available supply is being absorbed more rapidly than it was during the earlier reporting periods.

Median Sale Price

The median comparable sale price was:

  • $7,680,000 — prior seven-to-twelve months

  • $8,933,849 — prior four-to-six months

  • $8,000,000 — current three months

The current median remains above the prior seven-to-twelve-month period but below the prior four-to-six-month period.

Palm Beach County's $5 million-plus market also contains an unusually broad range of properties and price points. While many transactions are concentrated closer to the $5 million-to-$10 million range, individual properties can sell for several times those amounts.

Accordingly, changes in the mix of properties selling during a particular period can influence the median price.

Marketing Time

Median days on market for settled sales declined from:

  • 142 days — prior seven-to-twelve months

  • 97 days — prior four-to-six months

  • 93 days — current three months

Median listing days on market also declined:

  • 225 days — prior seven-to-twelve months

  • 191 days — prior four-to-six months

  • 152 days — current three months

Both measures currently fall within an approximate three-to-six-month marketing and exposure period.

For a market at this price level, the reduction in marketing time is noteworthy when considered together with the increase in absorption and reduction in housing supply.

Sale-to-List Price Ratio

The reported median sale-to-list price ratio remained approximately 100% throughout the periods analyzed.

Individual listing histories remain important, however, because properties may undergo price changes before ultimately selling.

Understanding the $5 Million+ Market

A countywide $5 million-plus market should not be viewed as if all of the properties compete directly with one another.

A beachfront estate may have little in common with an equestrian property in Wellington. An Intracoastal residence may compete in a different buyer segment than a golf-community residence or a newly constructed custom home.

Even within the same price range, substantial differences may exist in:

  • Location

  • Waterfront access and frontage

  • Ocean or Intracoastal exposure

  • Site size

  • Equestrian facilities

  • Living area

  • Construction quality

  • Age and condition

  • Renovations

  • Architecture

  • Pools and outdoor living areas

  • Guest accommodations

  • Garages and accessory improvements

  • Community amenities

For that reason, countywide statistics provide an overview of the $5 million-plus segment, but an individual property still requires analysis within its specific competitive market.

Appraiser’s Perspective

Thomas J. Dunphy III
Florida State-Certified Residential Real Estate Appraiser – RD8755

From an appraisal perspective, the Palm Beach County $5 million-plus detached-home market is best characterized as stable, with several indicators reflecting increased market activity.

Settled sales increased substantially during the current six months. Most notably, the current three-month period recorded 192 settled sales compared with 177 during the entire prior seven-to-twelve-month reporting period.

The monthly absorption rate increased from 29.50 to 48.67 and then to 64.00 sales per month.

Active inventory also increased, reaching 331 listings during the current period. However, the increase in sales activity exceeded the increase in available inventory, resulting in months of housing supply declining from 9.39 months to 5.17 months.

Median sale prices have fluctuated within the periods analyzed, increasing from approximately $7.68 million during the prior seven-to-twelve-month period to approximately $8.93 million during the prior four-to-six-month period before settling at approximately $8.0 million during the current three months.

Given the substantial variation among properties in this market and the presence of transactions at price points substantially exceeding the median, changes in the composition of sales can influence the reported median. The available data does not indicate that every $5 million-plus property or submarket experienced the same price movement.

Marketing times have also declined. Median sale days on market decreased from 142 to 93 days, while median listing days on market declined from 225 to 152 days.

These indicators are particularly noteworthy because the current reporting period extends beyond Southeast Florida's primary seasonal market.

Overall, the combination of increased settled sales, increased absorption, declining months of housing supply, reduced marketing times, and generally stable median pricing supports stable market conditions with increased transaction activity.

Individual valuation within this segment requires a more focused analysis of the property's specific location, waterfront or non-waterfront characteristics, site, living area, quality, condition, amenities, and competitive market.

Tom the Realtor’s Perspective

Tom Dunphy Realtor | Fulton Grace Realty
Licensed Florida Real Estate Sales Associate

The numbers tell me something important about Palm Beach County's $5 million-plus market:

More inventory does not necessarily mean buyers have unlimited time.

There are more properties available, but the monthly pace of sales has also increased substantially. Housing supply has declined from approximately 9.39 months to 5.17 months, and marketing times have shortened.

That changes how I would approach this market for both buyers and sellers.

If I Were Representing a Buyer

I would want my buyer watching the market closely.

We would establish a property search based on the locations, price range, property type, and features that actually matter to the buyer rather than simply looking at every Palm Beach County property above $5 million.

When a property becomes available that meets those criteria, I would evaluate the listing history, recent comparable sales, current competition, location, condition, improvements, and other characteristics before recommending an offer strategy.

The increase in active inventory provides choices, but the current absorption rate tells us properties are also transacting at a faster pace.

A buyer should therefore be selective without becoming complacent.

If the right property appears and the market evidence supports the asking price, I would be prepared to make a competitive offer rather than assume another comparable opportunity will necessarily remain available.

If I Were Representing a Seller

At this level of the market, pricing, marketing, and the seller's individual objectives have to work together.

A $5 million-plus property cannot be priced simply by applying a countywide median or a generalized price per square foot.

The first step would be identifying the property's actual competitive market.

An equestrian estate in Wellington requires a different analysis from an oceanfront residence, an Intracoastal property, a golf-community home, or a custom residence in another Palm Beach County location.

I would evaluate the property's location, site, living area, construction quality, condition, renovations, waterfront characteristics, amenities, improvements, recent comparable sales, active competition, and current buyer activity before recommending a listing strategy.

Then the marketing plan needs to be developed around both the property and the seller.

Some sellers may want broad market exposure. Depending on the property, that strategy could include professional photography and video, digital marketing, online exposure, social media, brokerage marketing channels, targeted promotion, private showings, broker events, invitation-only presentations, or a professionally planned and catered open house designed around the home.

Other sellers at this level may have very different priorities.

Privacy, discretion, security, and confidentiality may be particularly important. Some owners may not want broad public exposure or may prefer that information about the sale be distributed in a more controlled manner.

In those situations, the strategy may call for controlled showings, targeted outreach, private presentations, communication with appropriate real estate professionals and prospective buyers, or another marketing approach consistent with the seller's objectives and the available brokerage options.

There is no single marketing plan that is appropriate for every $5 million-plus property.

The strategy should reflect the home, its location, its likely buyer, current competition, market conditions, and — importantly — the seller's preferences regarding exposure and privacy.

For sellers who want broad exposure, the objective would be to present the property effectively across the appropriate marketing channels and distinguish it from competing $5 million-plus inventory.

For sellers who prioritize discretion, the objective changes. The marketing strategy should respect that preference while developing an appropriate plan for reaching prospective buyers and the real estate professionals who may represent them.

The current market data provides several encouraging indicators for sellers: transaction activity has increased, absorption has increased, housing supply has declined, and marketing times have shortened.

But buyers at this level still have alternatives.

The objective is to establish a supportable pricing strategy and then develop a marketing plan tailored to the property, market, and seller.

Searching for a $5 Million+ Palm Beach County Home?

Visit TomDunphySellsRealEstate.com to search available Palm Beach County properties and receive notifications when new listings enter the market.

For buyers in this segment, I can establish a focused search based on location, waterfront characteristics, equestrian use, community, price range, property features, and other criteria important to the purchase.

Considering Selling a $5 Million+ Palm Beach County Property?

Properties within this market can differ dramatically, even when their asking prices appear similar.

Before establishing a listing strategy, the property should be analyzed within its actual competitive market.

Pricing, presentation, exposure, privacy, and marketing should be considered based on the individual property and the seller's objectives rather than the countywide median alone.

Whether the appropriate strategy involves broad public exposure or a more discreet approach, the marketing plan should be developed around the property and the seller.

One of Southeast Florida Real Estate’s Best-Kept Secrets

Looking for real estate market information beyond the usual headlines?

Visit Tom’s Market Updates at TomDunphySellsRealEstate.com.

Tom’s Market Updates examine individual communities, property types, and market segments throughout Palm Beach, Martin, and St. Lucie Counties.

The reports examine actual market activity, including:

  • Settled sales

  • Absorption rates

  • Active inventory

  • Months of housing supply

  • Median sale prices

  • Marketing times

  • Listing activity

  • Sale-to-list price relationships

Explore Tom’s Market Updates and see what is happening in the Southeast Florida real estate markets that matter to you.

Why Trust This Market Report?

Many online market reports provide automated statistics without explaining what is occurring beneath the headline numbers.

These market updates are personally prepared by Tom Dunphy, drawing on more than two decades of residential real estate appraisal experience together with current experience as a Florida real estate sales associate.

The objective is not simply to report statistics.

It is to analyze what the market evidence indicates from an Appraiser’s Perspective and then separately discuss what that information may mean when representing buyers and sellers from Tom the Realtor’s Perspective.

Contact Tom Dunphy

Tom Dunphy Realtor
Fulton Grace Realty
Licensed Florida Real Estate Sales Associate

TomDunphySellsRealEstate.com

For real estate appraisal services:

Thomas J. Dunphy III
Florida State-Certified Residential Real Estate Appraiser – RD8755
APPRAIS

Real estate brokerage services and appraisal services are separate professional services.

Disclaimer

This Palm Beach County Luxury Detached Home Market Update is provided for general informational and educational purposes only.

For purposes of this report, the luxury detached-home market is defined as detached residential properties priced at $5,000,000 or more.

The market statistics presented in this report were derived from data reported through the Martin County REALTORS® of the Treasure Coast MLS with an effective date of July 31, 2026.

Market statistics may be influenced by differences in location, waterfront characteristics, site size, living area, construction quality, age, condition, renovations, equestrian facilities, amenities, improvements, and the types of properties sold during each reporting period.

Real estate markets change over time, and current or past market activity does not guarantee future performance. This report should not be interpreted as an appraisal, broker price opinion, comparative market analysis, legal opinion, tax advice, financial advice, investment advice, or guarantee of value.

The value and marketability of an individual property depend on its specific characteristics and the market evidence available as of the applicable date. Buyers and sellers should obtain advice tailored to the property and transaction they are considering.

Real estate brokerage services are offered through Fulton Grace Realty. Appraisal services, when separately engaged, are provided independently through APPRAIS.