Miami, Fort Lauderdale and West Palm Beach on one stretch of coast: the market in figures, where new buildings rise, and how Florida law shapes every sale.

The market in brief

South Florida is one stretch of coast from Miami to West Palm Beach, split across three counties and one buyer pool. Buyers move between Brickell, Fort Lauderdale and Palm Beach in a single search, so we open all three together, at the same time as New York.

Counties: Miami-Dade, Broward and Palm Beach
Status: Opening now, together with New York
Resale condominiums: 12 months of supply in Miami-Dade, at a median price of $400,000 (July 2026, existing condominiums only)¹
New luxury towers: More than 26 branded and ultra-luxury projects in pre-construction across the three counties, asking about $1,983 per square foot on average, against about $800 five years earlier (July 2026)²
Buyer protection: 15 days to cancel a developer’s contract; the first 10 percent of deposits held in escrow until closing

Two markets share this coast. Resale condominiums, many in older buildings now funding the reserves Florida has required since the Surfside collapse, hold a year of supply at flat prices. New towers at the top ask more than twice what they did five years ago. Every buyer weighs one against the other, and that gap is the case each new building has to make.

Where new buildings rise

Asking prices below are for luxury new development, as reported in July 2026.² They are asking prices, not closed sales.

Brickell and Downtown Miami

The financial district and the blocks around it, where Biscayne Bay meets the Miami River. Nearly everything new here is a high-rise condominium, and many launch with a hotel or brand partner.

From about $1.6 million · about $1,400 to $2,200 per square foot

Edgewater

The bayfront north of downtown, where low-rise lots have given way to towers facing the water and Miami Beach. Views across the bay set the price of each line in a building more than almost anything else.

Coconut Grove

Low, green and bayfront, with a lower building profile than Brickell. New buildings here are boutique in size, with fewer, larger residences.

From about $1.5 million · about $1,200 to $2,500 per square foot

Miami Beach and the islands

From South Beach to North Beach, and the private islands in the bay. Buildings are smaller here and land is scarce, which puts the highest prices on the coast on oceanfront and bayfront residences.

From about $5 million · about $3,000 to $4,000 per square foot

Sunny Isles Beach

A narrow barrier island at the top of Miami-Dade, lined with tall oceanfront towers. Inventory is deep, so floor, view and finish decide which residences sell.

From about $5 million · about $2,000 per square foot

Fort Lauderdale

Las Olas, the Intracoastal and the beach, with a growing set of branded towers. Prices still sit well below Miami Beach for comparable water.

From about $2.5 million · about $1,500 to $1,600 per square foot

West Palm Beach and Palm Beach

A downtown waterfront across the Lake Worth Lagoon from Palm Beach, where new towers have risen alongside a growing office district. Palm Beach itself rarely adds new buildings, so new residences across the water carry its address.

West Palm Beach from about $1.4 million · about $1,100 to $1,800 per square foot

How a purchase works here

A new South Florida condominium usually sells in two steps: a refundable reservation that holds a unit, then a purchase contract once the developer’s documents are filed. The contract starts a 15-day window to cancel without penalty and a deposit schedule that often reaches 30 to 50 percent of the price before completion. The first 10 percent stays in escrow until closing; anything above it may fund construction if the contract allows.

Our buyer guides cover each step: buying pre-construction in Florida and buying new construction in Florida, from warranties and reserves to closing costs and the homestead exemption.

What a developer works with here

Filing before contracts. Under section 718.502 (Florida Statutes, opens in a new tab), a developer may not offer purchase contracts until its documents are filed with the state, and may not close until the state confirms the filing. Reservations can come earlier, once the escrow agreement is approved, with deposits refundable on request.
Deposits that can build. Deposits above 10 percent may fund construction where the contract allows, which changes how much equity and debt a project needs. That is not possible in New York.
Reserves from the first budget. A developer-controlled association cannot waive or cut reserves, and buildings three stories or taller need a structural integrity reserve study. Monthly fees are part of the price buyers compare.
The lender’s pre-sale threshold. The launch price sets when it is met. Our note on launch price and the pre-sale threshold shows how.
Buyers from New York. Marketing a Florida offering to New York residents brings New York’s filing rules with it. Our New York page explains why.

Costs and rules at a glance

Deed stamp tax: 70 cents per $100 of the price in most of Florida, with a different rate in Miami-Dade. A seller’s cost by custom, often passed to the buyer in developer contracts
Right to cancel: 15 days from signing and receiving the documents, renewed by any amendment that materially changes the offering against the buyer
Deposits: First 10 percent in escrow until closing; above that, available for construction if the contract allows
Warranty: Three years on the unit from completion of the building; roof, structure and building systems up to five years
Homestead: Up to $50,000 off the assessed value of a primary residence for most property taxes, $25,000 for school taxes, with yearly increases held to 3 percent at most, for owners in residence on January 1
Reserves: Structural integrity reserve study for buildings three stories or taller; reserves cannot be waived while the developer is in control

A launch, step by step

Before filing. Pricing, unit mix, plans and amenities are set against the buildings a buyer will compare. Reservations may be taken once the escrow agreement is approved, refundable on request.
Filing. The developer files its documents with the state. Purchase contracts follow, each with its 15-day window to cancel.
Construction. Deposits arrive on schedule; the first 10 percent stays in escrow. Weekly reporting shows whether pace meets the lender’s threshold.
Completion. Walk-throughs, the certificate of occupancy and closings, one residence at a time.
Turnover. The developer hands the association to the owners, with an inspection report for each building three stories or taller.

What we do here

For developers, we advise before launch on pricing, unit mix, plans and amenities, the buyer profile and the launch strategy, then report on sales every Monday against the plan. For a small circle of buyers at the very top of the market, we advise on what to buy and when, with early access to new buildings before they launch, when we can.

Sources

MIAMI REALTORS, July 2026 statistics, as reported in Key West Citizen, August 27, 2026 (opens in a new tab). Existing condominiums only; new construction is excluded.
Haute Living, “Miami Luxury New Developments: July 2026 Market Update” (opens in a new tab), from the publication’s own tracking of luxury projects.

General information only, not legal, tax or investment advice. Figures are the latest we could verify from the sources above, and markets move. Review any purchase or project with a Florida real estate attorney.