The Miami luxury single-family home market has entered a more balanced phase after several years of aggressive growth. While prices remain elevated, the pace of appreciation has slowed, and buyers are becoming more selective—particularly in the $3M to $10M range where negotiation is now common and time on market has increased. Entry-level luxury, generally around the $1M to $3M range, continues to see the strongest transaction volume, driven by both domestic migration and international demand. At the very top of the market, however, properties above $10M are still performing well, supported by ultra-high-net-worth buyers who are less sensitive to interest rates and more focused on lifestyle, privacy, and tax advantages.
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