2024 Mid-Year Florida Luxury Real Estate Market Report

$106 Billion in Sales Volume, and a Resilient Luxury Market.

Florida's residential real estate market continues to demonstrate resilience and vibrancy, recording an impressive $106.3 billion in sales volume in the first half of 2024. While the frenzied activity of the pandemic years has moderated, the state’s enduring appeal, bolstered by a strong economy and favorable tax climate, secures its status as a leading real estate destination.

The data in this report reveals a market in transition. The luxury segment, driven by both domestic and international demand, has seen notable growth, even as the broader market enters a phase of stabilization. An increase in inventory and a tempering of price appreciation suggest a shift towards equilibrium. Despite a 4% decline in overall transaction volume, the luxury market, particularly properties valued at $1 million and above, experienced a remarkable 15% increase in closed transactions.

Engel & Völkers is uniquely positioned to thrive in this evolving landscape. Our focus on luxury properties, combined with our expansive global network and deep local market expertise, enables us to meet the needs of discerning clients seeking unparalleled real estate experiences. As the market adjusts, our commitment to providing white-glove service and insightful market analysis becomes even more vital.

The real estate landscape has been a focal point in recent news, from rising insurance costs and high mortgage rates to new disclosure requirements introduced by the National Association of Realtors (NAR) following a significant class action settlement. These factors introduce uncertainty and raise questions about housing affordability, with potential implications for real estate financing, commission structures, and agent compensation models. Engel & Völkers remains vigilant in monitoring these developments, ensuring that our strategies adapt to protect our clients' interests.

Our priority remains delivering exceptional value and service to our clients, even as we navigate the complexities of a dynamic market. By leveraging our brand's strengths and staying ahead of industry trends, we are confident in our ability to maintain a leadership position in Florida's real estate market.

At Engel & Völkers, luxury transcends price—it embodies a commitment to unmatched service for every client. On behalf of our franchise owners and real estate advisors, we look forward to meeting all of your real estate needs with the excellence you expect.

Sincerely,

Peter Giese

Peter Giese — CEO of Engel & Völkers Florida

Florida Statewide Snapshot

Florida's market is undergoing a dynamic transformation, shifting from the frenzied pace of recent years to a more stabilized landscape.

Welcome to Florida

Florida's real estate market has undergone a significant transformation in recent years. The frenetic pace of the pandemic housing boom has given way to a more balanced market, characterized by a blend of stability and opportunity.

The state's appeal remains undiminished, drawing residents and investors alike with its diverse economy, desirable climate, and exceptional lifestyle offerings. While certain segments, particularly in the luxury sector, continue to thrive, the overall market has adjusted to a more sustainable pace.

Increasing inventory levels have provided buyers with a broader range of options, though competition persists for desirable properties. Price appreciation, while still present, has moderated, reflecting a more balanced market dynamic.

As Florida's real estate landscape evolves, understanding the nuances of different regions is crucial. The following sections delve into specific market trends and performance metrics.

2023

$39,200,000,000

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Florida boasts a robust luxury single-family home market, particularly in coastal regions such as Miami, Naples, Palm Beach, and select areas of Orlando and Tampa. These properties, often characterized by waterfront locations, expansive floor plans, and high-end amenities, command premium prices. As the affluent population continues to grow in the state, sales have increased year over year as strong demand persists, driving price appreciation in these key markets.

Luxury Condominiums

The luxury condominium market for new construction in Florida continues to be sought after, especially in coastal cities. Waterfront and oceanfront units with upscale amenities are highly sought after. Miami, Fort Lauderdale, and Tampa Bay offer significant luxury condominium markets. While sales have moderated from peak periods,

prices continue to rise, reflecting the enduring appeal of the condominium lifestyle in the state.

Single-Family Homes

The broader single-family home market in Florida has experienced a period of stabilization. Sales volume has declined from peak levels, but prices continue to rise, albeit at a more moderate pace. Inventory levels have increased, providing buyers with more options, particularly in the midrange segments. However, competition persists for desirable properties, especially in high-demand areas.

Condominiums

The resale condominium market in Florida has had a new set of challenges in 2024 as buildings over 30 years old have been required to make structural improvements or increase cash reserves requirements.

Condominiums

Economic Impact

Florida's robust economy, driven by tourism, retirement, corporate and employee relocation, and diverse industries, is a key factor supporting housing demand. The state's strong job market and favorable business climate attract residents and investors alike, contributing to the real estate market's vitality. Real estate activity generates substantial economic impact through job creation, tax revenue, and consumer spending.

Industry Changes and Challenges

The real estate industry is undergoing significant transformations. Recent legal challenges, such as antitrust lawsuits against the National Association of Realtors (NAR), have the potential to reshape commission structures and agent compensation models. These changes could impact market dynamics, including buyer and seller behavior and agent business models. It's essential to monitor these developments for their potential influence on the Florida real estate market.

Overall Market Performance

• Sales Volume: Overall sales volume has declined compared to peak levels, indicating a market stabilization after the rapid growth of previous years.

• Price Appreciation: Home prices continue to rise, although at a more tempered rate compared to the previous surge.

• Inventory: Inventory levels have increased, providing buyers with more options, particularly in the mid-range segments. However, competition persists for desirable properties.

• Affordability Challenges: Rising home prices coupled with higher interest rates have placed pressure on buyers, especially first-time homebuyers.

1,000+

FLORIDA ADVISORS

40+

53 FLORIDA SHOPS

FLORIDA FRANCHISEES

ENGEL & VÖLKERS FLORIDA MARKET DETAILS

$1,947,457,262 + 22.37% Change YoY

2,425 + 1.72% Change YoY TRANSACTIONS

$835,381 + 6.4% Change YoY AVERAGE SALE

30A Beaches • Panama City

Bay and Gulf Counties

From January to June 2024, the inventory of homes priced over $1 million increased by 71.3% compared to the previous year.

Welcome to Bay and Gulf Counties

The coastal 30A Highway, which winds through Bay and Gulf counties, presents a unique blend of serene coastal living and more accessible housing options compared to other Florida coastal markets. The overall real estate market in this region has experienced a cooling period, reflecting broader national trends. Despite this slowdown, the area continues to attract buyers, particularly those seeking a more laid-back lifestyle complemented by abundant outdoor recreational opportunities, including boating, fishing, and beach activities. While price appreciation has moderated from its pandemic-era highs, the region's inherent natural beauty, combined with a growing local economy, continues to support sustained demand. The luxury market, though relatively small, is beginning to emerge as the area further develops and attracts more affluent buyers.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury single-family home market in Panama City and the surrounding 30A area remains a niche but promising segment. While the market is not as robust as other more established coastal luxury markets in Florida, there is a noticeable uptick in demand for premium properties, particularly those offering waterfront access or panoramic ocean views. These homes are often sought after by out-of-state buyers, especially from the Southeast and Midwest, looking for second homes or vacation properties. Price appreciation has been steady, though more tempered than in the past two years, and the market remains less competitive, providing opportunities for buyers to negotiate favorable terms. The ongoing development of luxury communities and amenities, such as golf courses, marinas, and exclusive beach clubs, is expected to bolster this segment further.

Luxury Condominiums

The luxury single-family home market in Panama City and the surrounding 30A area remains a niche but promising segment. While the market is not as robust as other more established coastal luxury markets in Florida, there is a noticeable uptick in demand for premium properties, particularly those offering waterfront access or panoramic ocean views. These homes are often sought after by out-ofstate buyers, especially from the Southeast and Midwest, looking for second homes or vacation properties. Price appreciation has been steady, though more tempered than in the past two years, and the market remains less competitive, providing opportunities for buyers to negotiate favorable terms. The ongoing development of luxury communities and amenities, such as golf courses, marinas, and exclusive beach clubs, is expected to bolster this segment further.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Panama City has experienced a decline in sales, reflective of the nationwide trend of cooling housing markets. This slowdown is partly attributed to higher interest rates, which have dampened buyer enthusiasm. However, prices remain elevated above pre-pandemic levels, indicating that the market is still relatively strong. The increase in inventory levels has provided buyers with more choices, reducing the competitive pressure that characterized the market in the past few years. Homes in established neighborhoods close to good schools, shopping, and dining options continue to attract interest, particularly from local families and relocating professionals.

Condominiums

Similar to single-family homes, the condominium market in Panama City has also seen a slowdown in sales. Prices have moderated but continue to stay above pre-pandemic levels, suggesting that demand, while reduced, remains steady. The increase in inventory has given buyers more options, particularly in mid-range and older developments, which are now more competitively priced. The condominium market is appealing to a mix of buyers, including retirees seeking a simpler lifestyle, young professionals entering the market, and investors looking for rental properties. With the continued growth of the tourism sector, especially in vacation rentals, the demand for condominiums in Panama City could see a resurgence as the market stabilizes.

30A BEACHES

KEY TRENDS AND CHALLENGES

• Coastal Appeal: The allure of Panama City's beaches, combined with its less crowded and more relaxed atmosphere compared to other Florida hotspots, continues to draw buyers. Properties with direct beach access or views are particularly coveted.

• Affordability: 30A Beaches continues to lead the way in $ 1 million dollar plus sales in the panhandle with the upper end homes exceeding $20 million.

• Economic Factors: The local economy, bolstered by tourism, military installations, and a growing manufacturing sector, underpins housing demand. Economic growth in these sectors supports job creation, which in turn sustains demand for housing.

• Natural Disasters: The threat of hurricanes and other natural disasters is a significant concern for the real estate market. Buyers and developers alike are increasingly considering the

risks associated with climate change, including the potential for flooding and storm damage. This has led to a growing interest in properties built to higher resiliency standards and with features that mitigate such risks.

• Infrastructure and Development: Ongoing infrastructure improvements and new developments, including planned communities, retail centers, and recreational facilities, are likely to enhance the appeal of the region. These developments may also contribute to future price appreciation, particularly in areas that are currently underdeveloped.

• Demographic Shifts: There is a noticeable demographic shift with more young families and retirees moving into the area, drawn by the quality of life and more affordable living costs. This influx is diversifying the buyer pool and could drive future demand across different market segments.

Broward County

From January to June 2024, the inventory of homes priced over $1 million increased by 33.5% compared to the previous year.

Welcome to Broward County

Broward County’s real estate market presents a dynamic and complex landscape, reflecting a mix of trends shaped by both local and macroeconomic factors. While the overall market has cooled from the rapid pace seen during the peak pandemic years, the luxury segments continue to exhibit resilience and strength. Price appreciation, though moderated, persists across most property types, highlighting the ongoing demand in the region. Increased inventory levels have offered buyers more options, yet competition remains fierce for the most desirable properties, particularly in prime locations like Fort Lauderdale. Broward County’s diverse economy, bolstered by sectors such as finance, tourism, and healthcare, underpins the housing market, ensuring that demand remains steady even as the market normalizes.

$1,686,000,000

2023 NET INCOME MIGRATION *DATA BASED ON 2022 REPORTS

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Broward County's luxury single-family home market remains one of the most robust segments, characterized by sustained price growth and enduring demand. High-end waterfront properties, golf course homes, and estates in gated communities continue to command premium prices, appealing to both local and international buyers. The market's competitive nature is underscored by a decline in median days on market, even as inventory levels have ticked upward. The area's strong economic conditions, driven by industries such as finance, tourism, and healthcare, support this demand. The lifestyle appeal of waterfront living, with access to private docks and proximity to beaches, remains a significant draw. Additionally, many high-end properties are viewed as safe investments, particularly in times of economic uncertainty or inflation, further driving interest in this segment. The limited supply of ultra-luxury properties, especially those with unique features, continues to drive prices upward, creating a seller's market.

Luxury Condominiums

Broward County’s luxury condominium market has shown a more measured pace compared to the single-family segment, though it remains strong. Price appreciation has continued, but the influx of new inventory, particularly in areas like Fort Lauderdale and Hollywood, has provided buyers with more choices, potentially moderating price growth in the near future. However, luxury high-rise residences in prime locations, especially those offering beachfront views and world-class amenities, continue to attract discerning buyers. This segment is shaped by the lifestyle preferences of many luxury buyers who favor the convenience of a lock-and-leave lifestyle with access to top-tier amenities. Additionally, international buyers, particularly from Latin America and Europe, continue to see value in luxury condominiums, especially those with waterfront views. The development pipeline for luxury condominiums remains robust, with several high-profile projects expected to bring more options to the market.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Broward County has experienced a noticeable decline in sales volume compared to the previous year, reflecting a return to more normalized market conditions after the unprecedented activity during the pandemic. Despite this slowdown, home prices continue to rise, albeit at a more tempered rate. Increased inventory levels have provided some relief to buyers, particularly in mid-range segments where demand remains strong. The market has been influenced by rising interest rates, which have impacted affordability, particularly for first-time buyers and those in the midmarket range, leading to a slowdown in sales activity. Economic uncertainty has also contributed to more cautious behavior among buyers, adding to the decline in sales volume. Additionally, shifting demographics, particularly younger buyers entering the market with different preferences, such as a desire for urban living or homes with modern amenities, have begun to reshape demand patterns.

Condominiums

The condominium market in Broward County has also seen a slowdown in sales activity, but price growth has persisted, particularly in desirable locations. The increase in inventory has given buyers more choices, especially in newly developed buildings offering contemporary amenities. However, the market remains tight for certain property types, particularly those in established, well-located buildings. Condominiums continue to appeal to buyers seeking a lower-maintenance lifestyle, with amenities such as security, maintenance, and recreational facilities included. The strong rental market in Broward County has attracted investors to condominiums, especially in areas with high tourist traffic or proximity to business hubs. The ongoing development of new condominium projects is adding to the inventory, which could moderate price increases and provide buyers with more options in the coming months.

FORT LAUDERDALE • POMPANO BEACH

KEY TRENDS AND CHALLENGES

• Lifestyle Amenities: Luxury properties with waterfront access, golf course living, and exclusive club memberships are highly desirable. These amenities appeal to buyers looking for a high-quality lifestyle and contribute to sustained demand in the luxury market.

• New Development Impact: Ongoing development in both luxury condominiums and single-family homes is shaping the county's real estate landscape. New projects are adding to inventory, which may moderate price growth but also provide more options for buyers.

• Economic Resilience: Broward County's robust economy, driven by sectors such as finance, tourism, and healthcare, supports the overall housing market. Economic stability and job growth help maintain buyer confidence and market strength.

• Rising Interest Rates: Higher mortgage rates have impacted affordability across all price segments. The increased cost of borrowing is slowing buyer activity and leading to more cautious decision-making, particularly in the mid-range and luxury markets.

• Affordability Concerns: The combination of rising home prices and higher interest rates is putting pressure on buyers, especially first-time homebuyers and those in the lower to mid-price segments. This dynamic is shaping buyer behavior and market activity.

• Investor Activity: Investors, both domestic and international, continue to play a significant role in the Broward County market. Their interest in luxury and rental properties contributes to competition and price stability in certain segments

County

From January to June 2024, the inventory of homes priced over $1 million increased by 88.1% compared to the previous year.

Welcome to Lee County

Lee County's real estate market has witnessed a dynamic interplay of growth and stabilization, reflective of the region’s appeal as a prime destination in Southwest Florida. While demand remains robust, particularly in luxury segments, recent market adjustments have created opportunities for discerning buyers. The area continues to attract interest due to its desirable lifestyle offerings, including waterfront living, golf courses, and a welcoming climate. As the market finds its balance, both buyers and sellers are navigating a landscape marked by steady price appreciation and increased inventory, providing a wider array of choices across property types.

$1,000,000+ Single-Family Homes

2023 NET INCOME MIGRATION

$2,415,000,000

*DATA BASED ON 2022 REPORTS

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury single-family home market in Lee County has shown remarkable resilience, maintaining strong demand despite broader market adjustments. Waterfront estates and golf course properties are particularly sought after, driving notable price appreciation even as inventory levels rise. High-networth individuals continue to invest in these premium properties, drawn by the area's strong economic conditions and the unique lifestyle opportunities available. The appeal of waterfront living, with access to private docks and sweeping views, remains a significant driver of interest. Additionally, the region's luxury market attracts investors who view these properties as valuable assets, particularly in a fluctuating economic climate. Despite the uptick in inventory, competition for these premium homes remains intense, underscoring the market’s enduring strength.

Luxury Condominiums

The luxury condominium market in Lee County has exhibited a more measured pace compared to the single-family home segment, though it remains robust. Price appreciation has continued, albeit at a slower rate, as an influx of new inventory has provided buyers with greater choice. Waterfront condos and those offering high-end amenities, such as resort-style pools, fitness centers, and concierge services, continue to retain their appeal. However, the competition in this segment has softened somewhat, allowing buyers more negotiating power. The market is influenced by the lifestyle preferences of those seeking a low-maintenance living environment paired with luxury amenities. Additionally, investor activity remains significant, particularly in properties that can be leveraged for rental income. The ongoing development pipeline ensures that the inventory of luxury condominium units will continue to grow, offering even more options to potential buyers. LUXURY MARKET Cape Coral • Fort Myers

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Lee County has entered a period of stabilization following a period of intense activity during the pandemic. Sales volume has declined from the peak levels seen in previous years, but home prices have remained relatively steady, indicating a balanced market. Increased inventory has provided buyers with more options, particularly in the mid-range price segments, which has been beneficial for those seeking to enter the market or upgrade their living situation. Rising interest rates have had a notable impact on affordability, particularly for first-time buyers and those relying on financing. Economic uncertainties, including concerns about inflation and future growth prospects, have also influenced buyer behavior, leading to more cautious decision-making. Additionally, shifting demographics, with younger buyers entering the market, are beginning to reshape demand, with a preference for modern amenities and energy-efficient homes.

Condominiums

Lee County’s condominium market has followed a similar trend to the single-family segment, with a slowdown in sales activity and a moderation in price growth. Increased inventory has provided buyers with more options, particularly in new developments offering contemporary amenities. However, the market remains competitive for desirable units, especially those in well-located buildings with strong community appeal. Condominiums continue to be popular among buyers seeking a lower-maintenance lifestyle, with the added benefit of shared amenities such as pools, fitness centers, and social spaces. The strong rental market in Lee County has also attracted investors, particularly in areas with high demand for vacation rentals or long-term leases. The pipeline of new condominium projects suggests that inventory will continue to expand, which may further moderate price increases and provide additional options for buyers in the coming months.

CAPE CORAL • BONITA SPRINGS ESTERO • FORT MYERS DOWNTOWN

KEY TRENDS AND CHALLENGES

• Population Growth: The ongoing influx of new residents, particularly from out-of-state, fuels demand for housing across various segments. Retirees and remote workers are drawn to the area's climate, lifestyle, and affordability compared to other Florida markets.

• Economic Resilience: Lee County's diverse economy, supported by industries such as healthcare, tourism, and construction, provides a solid foundation for the housing market. Job growth and income levels remain stable, helping to maintain buyer confidence.

• Hurricane Recovery: The ongoing recovery from Hurricane Ian is a significant factor influencing the market. Reconstruction efforts and increased insurance costs may affect housing supply and affordability, but they also contribute to demand for new and renovated properties.

• Rising Interest Rates: Higher mortgage rates have impacted affordability across all price segments, leading to a slowdown in buyer activity. This is particularly evident in the mid-range market, where buyers are more sensitive to changes in financing costs.

• Inventory Challenges: While overall inventory levels have risen, the supply of affordable housing remains limited. This scarcity continues to put upward pressure on prices, particularly in desirable neighborhoods and for wellmaintained properties.

• New Development Impact: The introduction of new residential projects, particularly in luxury and mid-range segments, is expected to influence market dynamics. These developments may alleviate some inventory pressure while also providing more options for buyers.

Crestview • Fort Walton Beach • Destin

Okaloosa and Walton Counties

From January to June 2024, the inventory of homes priced over $1 million increased by 35.2% compared to the previous year.

Welcome to Okaloosa and Walton Counties

The Okaloosa and Walton County region has witnessed a dynamic real estate market, characterized by its blend of coastal living and outdoor recreation. Although the overall market has adjusted from the peak levels seen in previous years, the area continues to attract buyers drawn to its natural beauty, military installations, and expanding economy. The region's allure remains strong, particularly for those seeking a lifestyle centered around coastal activities and outdoor experiences. While market adjustments have led to a stabilization, the luxury segment has shown remarkable resilience, with continued growth supported by the area's unique appeal.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury single-family home market in Okaloosa and Walton counties has remained resilient, with significant price appreciation driven by the demand for waterfront properties and homes with expansive views. Despite a slight increase in inventory, competition for these premium properties continues to be intense. The strong economic conditions in the region, bolstered by the military presence and a thriving tourism industry, contribute to sustained interest in luxury homes. The lifestyle appeal of coastal living, combined with the area's outdoor recreational opportunities, further enhances demand. However, the limited supply of ultra-luxury properties creates a scarcity that continues to drive prices upward, ensuring that the luxury market remains a stronghold in this region.

Luxury Condominiums

The luxury condominium market in Okaloosa and Walton counties has experienced a more moderate cooling compared to the single-family home segment, reflecting a shift in buyer behavior. While prices have continued to rise, the influx of new inventory has provided buyers with a wider range of options, leading to a slight softening in competition. Waterfront condos and those offering high-end amenities, such as resort-style pools, fitness centers, and concierge services, continue to attract interest. However, the market has seen a shift towards larger living spaces, with some buyers opting for more spacious alternatives. The increased inventory, coupled with changing preferences, suggests a period of adjustment for this segment, although the core appeal of luxury condominium living remains intact.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Okaloosa and Walton counties has entered a phase of stabilization, following a period of intense activity during the pandemic. Sales volume has declined from peak levels, yet home prices have remained relatively steady, indicating a balanced market. The increase in inventory has provided buyers with more options, particularly in the mid-range price segments, which has been beneficial for those looking to enter the market or upgrade their homes. Rising interest rates have played a significant role in shaping buyer behavior, impacting affordability and leading to more cautious decision-making. Additionally, economic uncertainties and shifting demographics, particularly with younger buyers entering the market, are influencing demand and reshaping the broader housing landscape.

Condominiums

The condominium market in Okaloosa and Walton counties has followed a similar trajectory to the single-family home segment, with a decline in sales volume and a moderation in price growth. The increased inventory has offered buyers more choices, particularly in newly developed units that cater to modern living standards. Despite the overall softening, desirable units in prime locations continue to attract interest, especially among buyers seeking a lowermaintenance lifestyle. Investor activity remains a key factor in the condominium market, with rental properties in high demand due to the region's strong tourism industry. The ongoing development pipeline suggests that inventory will continue to expand, providing even more options for prospective buyers, while also moderating price increases.

DESTIN

KEY TRENDS AND CHALLENGES

• Coastal Lifestyle Appeal: The region's beaches, natural beauty, and outdoor recreation opportunities continue to drive strong demand for housing, particularly among those seeking a lifestyle centered around outdoor activities.

• Military Presence: The significant military installations in the area, including Eglin Air Force Base and Hurlburt Field, contribute to a stable economy and population growth, which supports steady housing demand.

• Tourism Impact: The robust tourism industry, driven by the area's beaches and recreational opportunities, bolsters property values and creates strong rental income potential, making the region attractive to investors.

• Luxury Market Strength: Despite market adjustments, the luxury segment remains resilient, with continued growth fueled by high-net-worth individuals seeking waterfront and premium properties.

• Rising Interest Rates: Higher mortgage rates have affected affordability across all price segments, slowing buyer activity and leading to more cautious decision-making.

• Inventory Challenges: Although inventory levels have increased, the supply of affordable housing remains limited, particularly in the luxury segment, where scarcity drives competition.

• Economic Resilience The region's diverse economy, supported by the military, tourism, and local industries, provides a buffer against broader economic fluctuations, contributing to the stability of the real estate market.

• Development Pipeline: Ongoing development in both residential and commercial sectors is expected to shape the future landscape of the region, with new projects adding to the inventory and potentially moderating price growth.

LUXURY MARKET

Deltona • Daytona Beach • Ormond Beach

Flagler and Volusia Counties

From January to June 2024, the inventory of homes priced over $1 million increased by 64.4% compared to the previous year.

Welcome to Flagler and Volusia Counties

The Deltona-Daytona Beach-Ormond Beach region offers a diverse real estate market that seamlessly blends the allure of coastal living with the affordability of inland properties. Although the market has adjusted from its peak, the area's unique appeal continues to draw buyers looking for a wide range of lifestyle options. The luxury segment, in particular, has shown steady growth, underscoring the region's lasting attractiveness to affluent buyers who are drawn to its scenic beauty, recreational opportunities, and desirable quality of life.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$472,940,000

*DATA BASED ON 2022 REPORTS

The luxury single-family home market in Flagler and Volusia counties has demonstrated steady growth. Homes with waterfront access, those located within golf course communities, and properties situated in exclusive neighborhoods continue to be highly sought after. This segment has seen substantial price appreciation due to several key factors. Strong economic conditions, bolstered by tourism and the retirement industry, support high-networth individuals and drive demand for luxury properties. The appeal of coastal living and access to amenities like golf courses attract buyers looking for a desirable lifestyle. Additionally, the limited supply of high-end properties in prime locations has contributed to increased competition and higher prices in the luxury market.

The luxury condominium market in the region has experienced a period of adjustment. Although prices have continued to rise, sales activity has softened compared to previous peaks due to the influx of new inventory. This has provided buyers with more options, particularly in less desirable locations. Lifestyle preferences for lowmaintenance living and access to high-end amenities remain strong, influencing continued interest in luxury condos. Investor activity in rental properties also affects demand, especially for waterfront and amenity-rich units. The addition of new luxury condominium units has contributed to a more balanced market, offering more choices for buyers.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in the DeltonaDaytona Beach-Ormond Beach region has stabilized following previous market peaks. Sales volume has decreased, but prices have remained relatively steady, with a more moderated pace of growth. Increased inventory has provided buyers with more options, particularly in the midrange price segments. Rising interest rates have affected affordability, leading to a more cautious buying environment. Economic uncertainties influence buyer behavior, contributing to a stable market. Additionally, shifting demographics, with an influx of younger buyers, are shaping demand and market dynamics.

Condominiums

The condominium market in Flagler and Volusia counties has mirrored trends observed in the single-family segment. Sales volume has decreased, and price growth has moderated. The expansion of available units has provided more choices for buyers, although desirable locations and amenities continue to drive interest. Lifestyle preferences for lower-maintenance living and proximity to amenities remain influential in this segment. Investor activity in rental properties remains strong, affecting demand. The ongoing addition of new units contributes to increased inventory, shaping market dynamics.

NEW SMYRNA BEACH • PALM COAST

KEY TRENDS AND CHALLENGES

• Diverse Housing Options: The Deltona-Daytona BeachOrmond Beach region offers a wide array of housing options that cater to different buyer preferences. This diversity includes coastal properties, inland homes, and retirement communities, making it an attractive destination for a broad range of buyers. The blend of these options contributes to the area's dynamic real estate market.

• Tourism Impact: The region's tourism industry plays a significant role in supporting property values and rental income potential. The steady influx of visitors drives demand for vacation rentals and second homes, which in turn impacts the local real estate market. The economic benefits of tourism help sustain interest in both luxury and mid-range properties.

• Affordability: Compared to more expensive coastal markets, the Space Coast region offers relatively affordable housing

options. This affordability is appealing to buyers who are priced out of more competitive coastal areas, contributing to steady demand for homes in this region. The affordability also attracts first-time buyers and retirees seeking a costeffective lifestyle without sacrificing quality.

• Rising Interest Rates: The impact of rising mortgage rates is felt across all price segments in the region. Higher rates have affected buyers' affordability and purchasing power, leading to a more cautious approach to home buying. This has contributed to a slowdown in the market, as potential buyers adjust to the higher cost of borrowing.

• Inventory Challenges: The availability of desirable properties, especially in prime coastal locations, continues to be constrained. This scarcity drives competition and can put upward pressure on prices, affecting the overall market dynamics and affordability for buyers.

LUXURY MARKET

Gainesville

Alachua and Gilchrist Counties

From January to June 2024, the inventory of homes priced over $1 million remained the same as the previous year.

Welcome to Gainesville

Gainesville’s real estate market presents a distinctive blend of affordability and growth potential, making it a compelling choice for diverse buyers. The market has generally stabilized after previous fluctuations, yet the luxury segment has demonstrated notable growth. The city's strong academic and research environment, led by the University of Florida, coupled with a growing economy, underpins a consistent demand for housing. The influx of professionals and students contributes to a steady need for various housing options, enhancing the market's attractiveness. As Gainesville continues to develop, its unique characteristics are likely to further shape its real estate landscape.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury single-family home market in Gainesville has experienced notable growth, despite its relatively small size. High-end properties, particularly those with unique features such as expansive lots or proximity to the university and medical facilities, are in high demand. Limited inventory combined with increasing buyer interest has led to substantial price appreciation. This market segment’s resilience can be attributed to several factors, including the strong economic conditions supported by Gainesville’s academic and healthcare sectors, which attract high-net-worth individuals.

expected to continue its upward trajectory.

Luxury Condominiums

2023 NET INCOME MIGRATION

$26,880,000

*DATA BASED ON 2022 REPORTS

Additionally, the lifestyle appeal of spacious, high-end homes and the city’s steady economic growth contribute to the sector’s ongoing strength. As Gainesville’s affluent population expands, the luxury single-family market is

Gainesville’s luxury condominium market remains in its early stages of development. The current market is characterized by a limited supply and relatively modest buyer interest, which has constrained the segment’s growth. Despite these limitations, the introduction of new luxury condominium listings indicates potential for future expansion, especially if urbanization and development continue to progress. The appeal of high-end amenities and the convenience of condominium living might attract more buyers in the future as the city grows and evolves. The potential for growth in this segment will likely depend on broader economic trends and the city’s ability to attract more affluent residents.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Gainesville has undergone a period of stabilization following previous peaks. Although sales volume has slightly declined, home prices have continued to rise steadily. This price stability, combined with an increase in inventory, provides buyers with more options, particularly in the mid-range price segments. Several factors influence this market, including the persistent demand for student housing driven by the University of Florida, which affects rental and purchase dynamics. Additionally, the market benefits from Gainesville’s comparative affordability relative to other Florida cities, making it an attractive option for new residents. Economic growth, largely fueled by the university and healthcare sectors, further supports the housing market’s stability.

Condominiums

The condominium market in Gainesville reflects similar trends to the single-family sector, with a recent decline in sales activity and moderated price growth. Although prices have increased, the rate of growth has been slower compared to the luxury single-family market. The increase in available inventory has provided buyers with more choices, especially in the more affordable segments. Factors such as the demand for student rental units and the relative affordability of condominiums compared to singlefamily homes contribute to this market’s dynamics. The presence of new developments is also likely to influence future trends, potentially enhancing the appeal of condominium living in Gainesville.

GAINESVILLE

KEY TRENDS AND CHALLENGES

• University Influence: The University of Florida is a major driver of real estate demand in Gainesville, affecting both the rental market and overall housing dynamics. The university’s presence ensures a steady influx of students and professionals, impacting housing needs and market stability.

• Limited Luxury Inventory: The shortage of luxury condominiums in Gainesville presents a significant opportunity for developers and investors. As the city’s affluent population grows, the demand for high-end condo options may increase, driving potential growth in this segment.

• Rising Interest Rates: Higher mortgage rates have affected housing affordability, leading to a slowdown in buyer activity across various price segments. This trend is impacting both the luxury and more affordable segments of the market.

• Affordability Concerns: The combination of rising home prices and increasing interest rates poses challenges for many buyers, particularly first-time homebuyers. These factors may affect buyer sentiment and purchasing power, influencing overall market activity.

LUXURY MARKET

Hutchinson Island • Sebastian • Vero Beach

Indian River County

From January to June 2024, the inventory of homes priced over $1 million increased by 15.5% compared to the previous year.

Welcome to Indian River County

Indian River County, encompassing Hutchinson Island, Sebastian, and Vero Beach, is known for its coastal charm and a more relaxed lifestyle compared to other regions in Florida. The county's real estate market reflects a blend of natural beauty and tranquil living, appealing to those seeking a slower pace and access to coastal amenities. While the overall market has experienced growth, the luxury segment remains relatively smaller compared to other coastal areas. Price appreciation has occurred, but it has been more moderate. The county’s emphasis on preserving its natural environment and providing recreational opportunities like boating and fishing adds to its appeal, supporting a steady demand for housing. As the county continues to develop, there is potential for growth in the luxury market, particularly due to the area's unique coastal attributes and lifestyle appeal.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$659,570,000

*DATA BASED ON 2022 REPORTS

The luxury single-family home market in Indian River County is distinguished by its focus on waterfront properties. This segment has seen notable price appreciation driven by strong demand for high-end homes that offer privacy, natural beauty, and access to the county’s pristine waterways. The emphasis on environmental preservation and the limited availability of developable land further support the high property values in this market. Buyers seeking exclusive, waterfront estates contribute to a competitive market where the scarcity of land intensifies demand and pricing for luxury homes.

The luxury condominium market in Indian River County is relatively small compared to other coastal regions. Growth has been observed, but the market predominantly features mid-range and lower-priced units. Waterfront condominiums are particularly sought after, although overall inventory remains limited. The factors influencing this segment include lifestyle preferences that favor single-family homes over condominiums, and the limited amount of developable land for high-rise condominium projects, which constrains the market's expansion.

Single-Family Homes

Condominiums

HUTCHINSON ISLAND • VERO BEACH

Single-Family Homes

The broader single-family home market in Indian River County has experienced steady growth. Sales volume has increased, and prices have continued to rise, supported by a growing inventory that offers more options, especially in the mid-range price segments. The area's appeal to retirees looking for single-family homes, combined with its proximity to larger metropolitan areas, enhances the market's attractiveness. Additionally, the county's emphasis on outdoor living and natural amenities, such as parks and recreational areas, contributes to the ongoing demand and growth in this segment.

Condominiums

The condominium market in Indian River County has shown growth, marked by increases in both sales and prices. The rise in inventory has provided buyers with more choices, although the market remains smaller compared to other coastal regions. Factors influencing this market include a preference for lower maintenance living among buyers and investor activity in rental properties, particularly in coastal areas. Despite the growth, the market’s size and inventory levels remain constrained compared to more developed coastal condominium markets.

KEY TRENDS AND CHALLENGES

• Coastal Appeal: The county’s proximity to the Atlantic Ocean enhances its appeal, attracting buyers seeking coastal living.

• Retirement Community: A growing retirement population continues to drive demand for single-family homes and condos.

• Limited Luxury Inventory: The small number of luxury condominium options limits market potential and drives competition.

• Environmental Preservation: The county's commitment to preserving natural areas impacts development and the availability of new housing.

• Economic Factors: The local economy, supported by tourism, healthcare, and retirement communities, plays a significant role in influencing housing demand.

Jacksonville

Jacksonville,

St. Johns, and Amelia Island

From January to June 2024, the inventory of homes priced over $1 million increased by 34.6% compared to the previous year.

Welcome to Duval and St. John’s County

Jacksonville's real estate market offers a diverse landscape, blending urban vibrancy with suburban tranquility. Although the market has softened slightly from its peak, it remains dynamic and appealing, driven by a robust economy, abundant job opportunities, and a wide range of housing options. The luxury market, in particular, has experienced notable growth, showcasing the city's increasing allure for affluent buyers. Jacksonville's expanding infrastructure, cultural amenities, and waterfront properties further enhance its appeal.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

2023 NET INCOME MIGRATION

$1,660,000,000

*DATA BASED ON 2022 REPORTS

Jacksonville’s luxury single-family home market has demonstrated substantial growth over recent years. The demand for waterfront properties, golf course communities, and homes in exclusive neighborhoods remains high, driving significant price appreciation. Factors contributing to this robust performance include the city's strong economic conditions, driven by job growth and corporate relocations, which bolster the purchasing power of high-net-worth individuals. Additionally, the lifestyle appeal of waterfront living and access to premier amenities continues to attract buyers seeking both luxury and convenience. Despite a slight increase in inventory, competition for premium properties persists due to the limited supply of ultraluxury homes. This scarcity has led to increased prices and heightened competition among buyers, reinforcing

position as a desirable location for highend real estate.

Luxury Condominiums

The luxury condominium market in Jacksonville has also experienced steady growth, albeit with some moderation in sales compared to previous peaks. Prices for luxury condos continue to rise, driven by the ongoing demand for highend amenities and prime locations. Waterfront and riverfront condos remain particularly sought after, offering residents both upscale living and scenic views. The influx of new inventory has provided buyers with more choices, yet competition remains strong for top-tier properties, especially in sought-after areas like downtown and along the riverfront. The steady growth of this segment highlights the city’s appeal to those seeking a blend of luxury and urban convenience.

Jacksonville’s

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Jacksonville has undergone a period of stabilization. Although sales volume has slightly declined from its peak levels, prices have continued to rise, reflecting the ongoing demand and economic stability of the region. Increased inventory has given buyers more options, particularly in the midrange price segments. However, competition remains high for affordable and move-in-ready homes, especially in core urban areas where demand is strongest. The market is influenced by factors such as rising interest rates, which impact affordability, and a shifting demographic that includes younger buyers seeking suburban and urban living options.

Condominiums

Jacksonville’s condominium market has mirrored trends seen in the single-family segment, with a decrease in sales volume and moderated price growth. The availability of units has expanded, offering buyers a broader range of choices. Despite the increase in inventory, desirable locations and high-quality amenities continue to attract buyer interest. The market for condos remains active, particularly in sought-after neighborhoods and areas with strong amenities. As the city continues to grow, the condominium market is expected to evolve, reflecting changes in buyer preferences and economic conditions.

FIRST COAST • ST. AUGUSTINE ST. AUGUSTINE BEACH

KEY TRENDS AND CHALLENGES

• Economic Growth: The city’s expanding job market and favorable business environment play a crucial role in driving housing demand. As Jacksonville continues to attract businesses and skilled professionals, the demand for housing, particularly in premium and urban areas, is expected to remain strong.

• Lifestyle Amenities: The presence of waterfront properties, golf courses, and other high-end amenities significantly enhances the region’s attractiveness. These lifestyle features not only draw affluent buyers but also support sustained interest in luxury and high-quality living options.

• Rising Interest Rates: Higher mortgage rates have impacted affordability across all price segments, contributing to a slowdown in buyer activity. The increase in borrowing costs poses challenges for prospective homeowners and could potentially dampen demand in certain segments of the market.

• Inventory Challenges: While there has been an increase in inventory across various property types, the supply of affordable housing remains constrained. This inventory imbalance continues to exert pressure on prices and impacts buyers, particularly those seeking more budget-friendly options.

• Affordability Concerns: The combination of rising home prices and higher interest rates presents challenges for buyers, especially first-time homebuyers. The affordability issue is a significant factor influencing market dynamics and buyer behavior, potentially affecting overall market activity and accessibility.

LUXURY MARKET

Lakeland • Winter Haven

County

From January to June 2024, the inventory of homes priced over $1 million increased by 56.9% compared to the previous year.

Welcome to Polk County

Polk County offers a distinct real estate market defined by its affordability and growth potential. The overall market has experienced steady growth, with the luxury segment, though relatively small, showing significant promise. The county's appeal is enhanced by its proximity to larger metropolitan areas like Tampa and Orlando, attracting a diverse population seeking both value and convenience. Economic development and recent infrastructure improvements have further bolstered the region's attractiveness, making Polk County a rising star in Florida's real estate landscape.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

2023 NET INCOME MIGRATION

$450,860,000

*DATA BASED ON 2022 REPORTS

In Polk County, the luxury single-family home market is a niche segment that has shown robust performance despite its relatively small size. High-end properties in this area are characterized by their large land parcels, privacy, and proximity to recreational amenities such as lakes and golf courses. The limited supply of these highend properties, coupled with strong buyer demand, has led to notable price appreciation and reduced time on the market. This segment's growth is fueled by the county’s appealing lifestyle offerings and its increasing visibility as a desirable location for affluent buyers seeking both seclusion and accessibility to urban centers.

The luxury condominium market in Polk County is still in its early stages of development. Although there is potential for future growth, the current market is constrained by a lack of supply and limited buyer interest. As the county continues to evolve and develop, there may be increased demand for luxury condominium living, particularly as urbanization spreads and more amenities are introduced. The market’s nascent stage reflects the broader trend of emerging opportunities as the county matures and attracts more diverse residential options.

Luxury Condominiums

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Polk County has exhibited steady growth driven by its affordability and the diverse demographic of its buyers. Sales volume has remained relatively stable, while prices have continued to rise, reflecting the area’s attractiveness to a wide range of buyers. Increased inventory has provided more options for buyers, especially in the mid-range price segments. Key factors influencing this market include the county’s affordability compared to coastal regions, its appeal to families, retirees, and young professionals, and economic growth supported by agriculture, manufacturing, and tourism.

Condominiums

Polk County’s condominium market has experienced growth in both sales and prices, although it remains smaller in scale compared to other regions. The increase in inventory has expanded the choices available to buyers, particularly those seeking lower-maintenance living options. Despite this growth, the market for condos is still relatively limited in comparison to single-family homes. Key factors driving this segment include the relative affordability of condominiums compared to single-family homes, the growing retirement population seeking lowmaintenance living, and a currently limited supply of luxury options.

OPEN MARKET

FRANCHISE OPPORTUNITIES

KEY TRENDS AND CHALLENGES

• Affordability: Polk County offers a lower cost of living compared to coastal areas, making it an attractive option for buyers seeking more budget-friendly housing options. This affordability is a significant draw for families, retirees, and young professionals looking for value in their real estate investments.

• Recreational Opportunities: The county's abundant lakes, golf courses, and outdoor activities enhance its appeal to residents who value a lifestyle enriched by natural amenities. These recreational features contribute to the region’s attractiveness and support sustained interest in both single-

family homes and condominiums.

• Retirement Community: The growing retirement population in Polk County drives demand for various housing types, including single-family homes and condominiums. This demographic shift influences market trends, as retirees often seek affordable, low-maintenance living options.

• Economic Factors: Polk County’s economy, which relies on agriculture, manufacturing, and tourism, plays a crucial role in shaping housing demand. Economic fluctuations and growth in these sectors impact buyer confidence and market dynamics.

Martin County

From January to June 2024, the inventory of homes priced over $1 million increased by 31.1% compared to the previous year.

Welcome to Martin County

Martin County presents a luxury-oriented real estate market characterized by a strong emphasis on waterfront properties. Although overall sales have softened from peak levels, the region continues to attract affluent buyers seeking a highquality lifestyle. The county's natural beauty, upscale amenities, and prime location on the Florida coast contribute to its ongoing appeal.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$550,320,000

*DATA BASED ON 2022 REPORTS

Martin County's luxury single-family home market is a significant feature of the region's real estate landscape. The market is dominated by waterfront estates and equestrian properties, which offer both privacy and premium amenities. The appeal of these properties is bolstered by strong economic conditions that support high-net-worth individuals looking for exclusive residences. Limited inventory, combined with robust buyer demand, has driven substantial price appreciation in this segment. The scarcity of ultra-luxury properties enhances their desirability and drives prices upward. Factors contributing to the market's strength include the allure of waterfront living, which provides residents with access to scenic views and recreational opportunities, and the availability of equestrian amenities that cater to buyers with a passion for horseback riding and outdoor activities.

The luxury condominium market in Martin County has demonstrated resilience, although sales have moderated compared to previous peaks. Prices for luxury condos continue to rise, reflecting ongoing demand for waterfront and oceanfront residences. The condominium market in the county remains smaller in scale due to the strong preference for single-family homes among local buyers.

Despite this, high-end condominiums maintain their appeal due to their prime locations and upscale features. Limited inventory in this segment, coupled with the county's overall preference for single-family properties, contributes to a competitive market environment. The resilience of the luxury condo market underscores the continued interest in premium coastal living options.

Condominiums

Single-Family Homes

The broader single-family home market in Martin County has experienced a slight cooling, with a reduction in sales volume from peak levels. However, prices have remained relatively stable, supported by steady demand and increased inventory. This influx of available homes has provided buyers with more options, particularly in the mid-range price segments. Despite the increased choice, competition persists for desirable properties, especially those located in waterfront and golf course communities. Factors influencing this market include the region's appeal to families and retirees seeking a high-quality lifestyle and the ongoing interest in properties that offer a mix of affordability and premium features.

Condominiums

The condominium market in Martin County has shown signs of stabilization following a period of decline. Sales volume has decreased, and price growth has moderated, reflecting a balance between supply and demand. Increased inventory has offered buyers more choices, but the market remains competitive, particularly for waterfront and oceanfront units. The demand for these desirable locations continues to support the market, despite the broader trend of moderating price growth. As the condominium market stabilizes, buyers have greater opportunities to find units that meet their needs, although competition for the most sought-after properties remains strong.

KEY TRENDS AND CHALLENGES

• Waterfront Demand: The extensive coastline of Martin County drives significant demand for waterfront properties. The allure of living by the water continues to attract buyers seeking premium real estate with access to scenic views and recreational opportunities.

• Luxury Lifestyle: Martin County’s reputation as a high-end destination enhances its appeal to affluent buyers. The region's luxury lifestyle offerings, including upscale amenities and exclusive properties, make it a sought-after location for high-net-worth individuals.

• Limited Inventory: The supply of luxury properties in Martin County remains constrained, contributing to higher prices

and a competitive market. The scarcity of available high-end homes and condominiums drives up demand and maintains upward pressure on prices.

• Rising Interest Rates: Higher mortgage rates have impacted affordability across all price segments, slowing buyer activity. The increase in borrowing costs poses challenges for prospective homeowners and can influence market dynamics.

• Affordability Concerns: Rising home prices, combined with higher interest rates, present challenges for buyers, particularly first-time homebuyers. The affordability issue affects buyer access to the market and can influence overall market activity and demand.

Miami • Dade County

From January to June 2024, the inventory of homes priced over $1 million increased by 29.3% compared to the previous year.

Welcome to Miami

Miami-Dade County represents one of the most dynamic and luxury-driven real estate markets in the United States. Known for its global appeal, the county attracts a diverse range of buyers, from wealthy international investors to domestic high-net-worth individuals. The region's strong economy, bolstered by sectors such as finance, tourism, and international trade, underpins sustained demand for high-end properties. This demand is further amplified by Miami-Dade's vibrant cultural scene, world-class amenities, and the lifestyle appeal of its coastal locations. As a result, the real estate market in Miami-Dade, particularly in the luxury segments, continues to thrive, even as it faces challenges such as rising interest rates and limited inventory.

$1,000,000+ Single-Family Homes

2023 NET INCOME MIGRATION

$7,380,000,000

*DATA BASED ON 2022 REPORTS

$1,000,000+ Condominiums

Luxury Single-Family Homes

These properties, often located in towering buildings with panoramic views of the ocean or bay, are highly sought after by both domestic and international buyers. While sales have moderated from their peak levels, prices continue to rise due to sustained demand. Miami-Dade's reputation as a luxury lifestyle destination plays a key role in this market, attracting buyers who value the convenience and amenities offered by luxury condos. This segment is also supported by a strong rental market, with many investors purchasing units to generate rental income. Additionally, the continuous influx of new developments is adding to the inventory of high-end units, offering buyers a range of options from modern, state-of-the-art buildings to more classic, established properties. Despite the increased supply, the luxury condominium market remains competitive, particularly for units in prime locations. LUXURY MARKET

This segment is defined by its exclusive offerings, including waterfront estates, oceanfront mansions, and homes within gated communities known for their privacy and security. The market has seen significant price appreciation, driven by limited inventory and strong demand from both domestic and international buyers. The global appeal of Miami as a prime luxury destination plays a crucial role in attracting high-net-worth individuals who are drawn to the county’s unique blend of urban sophistication and coastal living. The lifestyle appeal of waterfront properties, coupled with access to world-class amenities such as private beaches, golf courses, and luxury shopping, ensures that demand remains strong. Additionally, the scarcity of ultra-luxury properties creates a competitive environment, further driving prices upward. As Miami-Dade continues to grow as a global city, the luxury single-family home market is expected to maintain its upward trajectory.

Luxury Condominiums

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Miami-Dade County has experienced a period of slight cooling after a period of rapid growth. Sales volume has declined somewhat, but home prices continue to rise, albeit at a more moderate pace than in previous years. The increase in inventory has provided buyers with more options, particularly in the mid-range price segments, where competition remains strong. The market’s resilience can be attributed to several factors. Miami-Dade's diverse economy, which includes robust sectors like healthcare, technology, and education, supports a steady demand for housing. Furthermore, the county’s appeal as a place to live, work, and play attracts a wide range of buyers, from families looking for suburban tranquility to professionals seeking proximity to the city’s business districts. Even with the slight cooling, desirable properties in established neighborhoods continue to see strong demand, ensuring that the market remains vibrant.

Condominiums

The broader condominium market in Miami-Dade County reflects similar trends to the single-family segment, with signs of stabilization after a period of significant activity. Sales volume has decreased, and price growth has moderated, providing a more balanced market environment. The increased inventory has given buyers more choices, particularly in the more affordable segments of the market. Despite this, the market remains competitive for waterfront and luxury units, driven by lifestyle preferences of buyers seeking lowermaintenance living and the appeal of Miami’s vibrant urban environment. Investor activity also plays a significant role in this segment, with many purchasing condos as rental properties to take advantage of Miami’s strong rental market. The ongoing development pipeline is contributing to the inventory, particularly in areas seeing significant urban revitalization, further diversifying the options available to buyers.

COCONUT GROVE

KEY TRENDS AND CHALLENGES

• Global Appeal: Miami's international reputation continues to attract affluent buyers from around the world, contributing to sustained demand for luxury properties across the county.

• Luxury Lifestyle: The county's vibrant lifestyle, which includes world-class entertainment, dining, and cultural events, drives strong demand for luxury real estate, particularly in coastal and urban areas.

• Limited Inventory: The supply of luxury properties, particularly in prime locations, remains constrained, contributing to higher prices and increased competition among buyers.

• Rising Interest Rates: Higher mortgage rates are beginning to impact affordability across all price segments, leading to a slowdown in buyer activity and potentially affecting market momentum in both luxury and mid-range markets.

• Affordability Concerns: The combination of rising home prices and increasing interest rates poses significant challenges for buyers, particularly first-time homebuyers and those in the mid-range price segments, which could dampen overall demand.

Naples • Immokalee • Marco Island

Collier County

From January to June 2024, the inventory of homes priced over $1 million increased by 132.6% compared to the previous year.

Welcome to Collier County

Collier County remains a beacon of luxury living in Florida, attracting affluent buyers with its stunning beaches, renowned golf courses, and top-tier amenities. Despite recent market fluctuations, the area continues to draw interest from both domestic and international buyers seeking an upscale lifestyle. The county's unique blend of natural beauty, sophisticated living options, and a strong local economy ensures its real estate market remains resilient. As the demand for luxury properties continues, Collier County’s market dynamics will likely evolve, driven by factors such as limited inventory, rising interest rates, and the region’s vulnerability to natural disasters.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$4,031,000,000

*DATA BASED ON 2022 REPORTS

The luxury single-family home market in Collier County is a significant driver of the region’s real estate activity. This segment is characterized by its exclusive offerings, including waterfront estates, expansive golf course properties, and homes within prestigious gated communities. Despite a slight increase in inventory, demand for these high-end residences remains robust. The market’s strength is underpinned by several factors. First, the local economy supports a high-net-worth population that values the upscale lifestyle offered by these homes. The allure of living along the coast, coupled with access to world-class amenities such as private golf clubs and marinas, continues to attract buyers. Moreover, the limited availability of ultra-luxury properties creates a sense of scarcity, driving prices upward and reinforcing the market’s exclusivity. As a result, even in times of broader economic uncertainty, this segment of the market remains particularly resilient.

Collier County’s luxury condominium market, while smaller than the single-family segment, plays a crucial role in the region’s real estate landscape. These properties are particularly sought after for their combination of convenience, high-end amenities, and stunning views, whether of the Gulf of Mexico or the county’s many golf courses. While there has been some cooling in the market, prices for luxury condominiums have remained high due to steady demand from affluent buyers. The global appeal of Collier County as a premier lifestyle destination continues to attract international investors, contributing to the market’s stability. Additionally, the luxury condominium market benefits from a strong rental demand, with many buyers purchasing units as income-generating investments. A new development pipeline is gradually increasing the inventory of luxury condos, offering more options for buyers. However, despite the additional supply, the market remains competitive, particularly for the most desirable units with premium locations and features.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Collier County has entered a phase of stabilization after experiencing rapid growth in previous years. Sales volume has declined slightly, but home prices have continued to show resilience, reflecting the ongoing desirability of the area. Increased inventory has given buyers more choices, particularly in the mid-range price segments, where the competition remains strong. The market’s stability can be attributed to several key factors. First, Collier County’s natural beauty and high quality of life make it a popular destination for both permanent residents and seasonal buyers. Second, the area’s relative affordability compared to other luxury markets in Florida attracts buyers who are looking for value without compromising on lifestyle. Finally, the steady economic growth in the region, supported by sectors such as tourism, healthcare, and professional services, continues to bolster the housing market.

Condominiums

The condominium market in Collier County, like the singlefamily segment, is stabilizing. Although sales volume has decreased, price growth has moderated, and the market remains competitive, especially for waterfront and luxury units. The increased inventory has provided buyers with more options, but the demand for lower-maintenance living, particularly among retirees and second-home buyers, continues to drive interest in this market. Investor activity is also a significant factor, with many buyers purchasing condos as rental properties to capitalize on the strong rental demand in the area. Additionally, new developments are adding to the inventory, offering modern amenities and appealing to buyers looking for both convenience and luxury. As the market evolves, the condominium segment is likely to remain an attractive option for a wide range of buyers, from investors to those seeking a permanent residence in a desirable location.

3RD STREET • BONITA SPRINGS • ESTERO MARCO ISLAND • NAPLES

KEY TRENDS AND CHALLENGES

• Global Appeal: Collier County's reputation as a luxury destination continues to attract affluent buyers from around the world, bolstering market resilience even during periods of economic uncertainty.

• Limited Inventory: The supply of luxury properties remains constrained, particularly in the most desirable locations, contributing to higher prices and making the market increasingly competitive for buyers.

• Rising Interest Rates: Higher mortgage rates have begun to impact affordability across all price segments, leading to a slowdown in buyer activity and potentially affecting market momentum.

• Affordability Concerns: The combination of rising home prices and increasing interest rates poses significant challenges for many buyers, especially first-time homebuyers and those in the mid-range market, potentially dampening overall demand.

• Natural Disasters: Collier County's vulnerability to hurricanes and other natural disasters is an ongoing concern, with potential impacts on market stability, insurance costs, and buyer sentiment.

$1,000,000+ Single-Family Homes

From January to June 2024, the inventory of homes priced over $1 million increased by 8.3% compared to the previous year.

Welcome to Ocala Marion County

Ocala and Marion County offer a distinctive real estate market characterized by a balance of rural and suburban living, with a particular emphasis on equestrian properties. Known as the "Horse Capital of the World," the area attracts buyers who value a slower pace of life and the unique lifestyle that comes with large estates and equestrian facilities. While the luxury segment in Ocala is smaller compared to Florida’s coastal regions, it has demonstrated potential for growth as the county continues to develop and diversify economically. The broader real estate market in Marion County has shown steady growth, with price appreciation occurring at a more moderate pace compared to other parts of the state. The county's appeal is further enhanced by its proximity to larger metropolitan areas like Orlando and Gainesville, making it an attractive option for those seeking a blend of country living and accessibility to urban amenities.

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury single-family home market in Ocala is predominantly driven by equestrian properties, which are a hallmark of the region. These properties often include large estates with extensive equestrian facilities, such as stables, riding arenas, and pastures, and they command premium prices due to their unique appeal. Although the number of closed sales in this segment is lower compared to coastal areas, the market exhibits strong price appreciation and limited inventory, reflecting high demand among affluent buyers. Many of these buyers are drawn to Ocala’s reputation as a premier destination for equestrian sports, including thoroughbred racing and show jumping. The appeal of owning a large estate in a serene, rural setting, combined with the amenities required for equestrian activities, makes this segment particularly resilient. As Ocala continues to gain recognition for its luxury equestrian properties, the market is expected to see continued interest

Luxury Condominiums

The luxury condominium market in Ocala is currently in its nascent stages, with little to no significant activity in this segment. The absence of closed sales and the limited number of new listings suggest that there is either a lack of demand or a limited supply of luxury condominiums in the area. However, as Ocala continues to develop and attract a more diverse population, including retirees and professionals who may prefer the convenience of condominium living, the potential for luxury condominium development could increase. The city's ongoing economic growth and efforts to diversify its economy may lead to new opportunities for developers to introduce high-end condominium projects, particularly if demand begins to rise among affluent buyers who are looking for lowmaintenance, upscale living options within the county.

from high-net-worth individuals seeking a unique lifestyle.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Ocala and Marion County has experienced steady growth, with an increase in sales volume and continued price appreciation. The availability of more inventory has provided buyers with a wider range of options, particularly in the mid-range price segments. This market is influenced by several key factors. First, Ocala offers a more affordable alternative to Florida’s coastal areas, attracting a diverse population that includes families, retirees, and equestrian enthusiasts. Second, the county’s economic growth, driven by sectors such as healthcare, education, and the equine industry, supports a stable housing market. The area’s natural beauty, combined with its affordability and accessibility, makes it an attractive option for those seeking a quieter, more rural lifestyle without sacrificing access to essential services and amenities. As a result, the single-family home market in Ocala is expected to remain strong, particularly as more people seek out affordable housing options in less congested areas of the state.

Condominiums

The condominium market in Ocala has shown signs of growth, with increases in both sales volume and prices. The rise in inventory levels has given buyers more choices, although the market remains smaller compared to coastal regions. Factors influencing this market include the affordability of condominiums relative to single-family homes, making them an attractive option for budgetconscious buyers. Additionally, the area’s growing retirement population contributes to demand for condominiums, as many retirees prefer the lowmaintenance lifestyle that condos offer. However, the market is limited in terms of luxury condominium options, which may present an opportunity for future development as the area continues to grow and attract a more diverse demographic. As the market evolves, condominiums in Ocala are likely to remain a popular choice for those seeking affordable, low-maintenance living options in a tranquil setting.

KEY TRENDS AND CHALLENGES

• Equine Industry: Ocala's reputation as the "Horse Capital of the World" continues to attract a specific buyer demographic, particularly those interested in equestrian sports and lifestyles.

• Affordability: Marion County offers a lower cost of living compared to Florida’s coastal areas, making it an attractive option for a wide range of buyers, including families, retirees, and first-time homebuyers.

• Retirement Community: The area has a growing retirement population, which is driving demand for both single-family homes and condominiums, particularly those that offer lowmaintenance living options.

• Limited Luxury Inventory: The lack of luxury condominium options in Ocala limits the market’s potential to attract affluent buyers who may prefer this type of property. However, this also presents an opportunity for developers to explore new projects in this segment.

• Economic Diversification: While the county’s economy has traditionally been reliant on the equine industry, there are ongoing efforts to diversify into other sectors, such as healthcare and education, which could support further growth in the real estate market.

LUXURY MARKET

Orlando • Kissimmee • Sanford

Lake, Orange, Osceola, and Seminole Counties

From January to June 2024, the inventory of homes priced over $1 million increased by 1,815.7% compared to the previous year.

Welcome to Central Florida

The Orlando metropolitan area, encompassing Lake, Orange, Osceola, and Seminole counties, is one of Florida's most dynamic and diverse real estate markets. The region offers a wide mix of housing options, from luxury estates to affordable condominiums, attracting a broad spectrum of residents, including families, retirees, and young professionals. Orlando’s strong economy, bolstered by its world-renowned tourism industry and growing corporate presence, continues to support robust housing demand. Although overall sales have moderated from their peak levels, the market remains vibrant, with price appreciation persisting, particularly in the luxury segment. The region's appeal is further enhanced by its major theme parks, entertainment options, and a lifestyle that combines urban conveniences with suburban charm. As Orlando continues to grow and diversify its economy, the real estate market is expected to remain strong, offering opportunities across various price segments.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$1,004,000,000

*DATA BASED ON 2022 REPORTS

Orlando’s luxury single-family home market has experienced significant growth in recent years, driven by affluent buyers who are drawn to the area’s upscale living options. This segment is characterized by waterfront properties, golf course homes, and large estates located in exclusive gated communities, all of which command premium prices. Despite a slight increase in inventory, competition for high-end properties remains intense. The region’s strong economic conditions, supported by its thriving tourism industry, the presence of major theme parks, and an increasing number of corporate relocations, attract high-net-worth individuals who seek luxurious, wellappointed homes. The lifestyle appeal of waterfront living, proximity to world-class entertainment, and access to a wide range of amenities also play a significant role in maintaining demand. Additionally, the limited supply of ultra-luxury properties creates a sense of scarcity, further driving prices upward.

The luxury condominium market in Orlando is a growing segment, though it remains smaller compared to Florida’s coastal markets. This market is characterized by price appreciation and limited inventory, leading to a competitive environment for high-end units. Several factors influence this segment, including tourism-driven demand for rental properties, particularly short-term vacation rentals, which are popular among investors. The lifestyle preferences of buyers seeking low-maintenance living with access to premium amenities, such as fitness centers, pools, and concierge services, also contribute to the appeal of luxury condominiums. Additionally, the new development pipeline is adding to the inventory of luxury units, offering more options for buyers. As Orlando’s population continues to diversify and the city’s economy grows, the luxury condominium market is expected to expand, attracting both residents and investors who appreciate the convenience and lifestyle benefits associated with this type of property.

Single-Family Homes

The broader single-family home market in the Orlando metropolitan area has entered a period of stabilization following several years of rapid growth. Sales volume has declined slightly from previous highs, but prices have continued to rise, although at a more tempered pace. The increase in inventory has provided buyers with more options, particularly in the mid-range price segments. However, competition for desirable properties remains strong, especially in established neighborhoods and toprated school districts. This market is supported by the region’s continued job growth, driven by the expanding economy, which attracts new residents and businesses to the area. The appeal of Orlando’s suburban communities, which offer a mix of affordability, familyfriendly amenities, and proximity to urban centers, ensures that the single-family home market will remain a key segment of the region’s real estate landscape. As the area continues to develop, the single-family market is expected to maintain its stability, providing opportunities for both buyers and sellers.

Condominiums

The condominium market in Orlando has shown signs of stabilization, with sales volume declining slightly and price growth moderating. The rise in inventory levels has offered buyers more choices, particularly in more affordable segments. Despite these trends, the market remains competitive for certain property types, especially those with desirable amenities or prime locations, such as proximity to downtown Orlando or major employment centers. Factors influencing this market include the affordability of condominiums relative to single-family homes, making them an attractive option for first-time homebuyers and investors. Additionally, the presence of new developments and the increasing popularity of lowmaintenance living continue to support demand. As Orlando’s population grows and diversifies, the condominium market is likely to evolve, providing a range of options for buyers across different price points and preferences.

CLERMONT • ORLANDO DR. PHILLIPS

KEY TRENDS AND CHALLENGES

• Tourism Impact: The region's tourism industry plays a crucial role in supporting property values and rental income potential, particularly in areas close to major attractions like Disney World and Universal Studios.

• Theme Parks: The presence of major theme parks significantly influences housing demand and rental markets, attracting both investors and residents who seek proximity to these attractions.

• Job Growth: Orlando's growing economy, driven by sectors such as tourism, technology, and healthcare, continues to attract residents and businesses, supporting overall housing demand.

• Rising Interest Rates: Higher mortgage rates have impacted affordability, leading to a slowdown in buyer activity across various price segments, particularly among first-time homebuyers and those purchasing in the mid-range market.

• Affordability Concerns: The combination of rising home prices and increasing interest rates poses challenges for buyers, particularly those entering the market for the first time. This may affect buyer sentiment and purchasing power, influencing overall market activity.

Condominiums

$1,000,000+ Single-Family Homes

Palm Bay • Melbourne • Titusville

Welcome to Brevard County Brevard County

From January to June 2024, the inventory of homes priced over $1 million increased by 61.9% compared to the previous year.

Brevard County, which includes Palm Bay, Melbourne, and Titusville, presents a dynamic real estate market heavily influenced by its proximity to the Space Coast and the Atlantic Ocean. The area is characterized by a unique blend of coastal living and aerospace industry-driven economic opportunities. While the luxury segment in Brevard County is smaller compared to other coastal regions in Florida, it is experiencing notable growth. The county continues to attract a diverse range of buyers drawn to its combination of scenic coastal landscapes and robust job market. Price appreciation is particularly pronounced in the luxury segment, reflecting the desirability of the region. Overall, while sales have moderated from peak levels, the ongoing housing demand is supported by the county's strong economy, which is underpinned by the aerospace industry and a growing population.

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury single-family home market in Brevard County has experienced substantial growth, driven by the increasing demand for high-end coastal properties. This segment is dominated by waterfront estates, golf course homes, and properties with scenic views of the Indian River Lagoon. These homes command premium prices due to their desirable locations and the lifestyle they offer. Price appreciation in this market has been significant, highlighting the strong demand for luxury homes in the area. Several factors are driving this growth, including the region's strong economic conditions, supported by the thriving aerospace industry and the influx of tourism. The appeal of coastal living, with its access to outdoor recreational activities such as boating and fishing, also contributes to the high demand for these properties. Additionally, the limited supply of ultra-luxury homes in Brevard County creates a sense of scarcity, further driving prices upward.

Luxury Condominiums

The luxury condominium market in Brevard County is a growing segment, though it remains smaller compared to other coastal regions in Florida. This market is characterized by increasing demand, particularly for waterfront and oceanfront condos that offer stunning views and a lowmaintenance lifestyle. These properties are especially sought after by buyers who prioritize convenience and access to premium amenities such as pools, fitness centers, and direct beach access. Investor activity in the luxury condominium market is also notable, particularly during peak tourist seasons when short-term rental demand spikes. Additionally, the new development pipeline is contributing to the growth of this segment by adding more luxury units to the market, thereby offering buyers additional options.

Single-Family Homes

The broader single-family home market in Brevard County has undergone a period of stabilization following several years of rapid growth. While sales volume has declined slightly, home prices have continued to rise, though at a more moderate pace than in previous years. The increase in inventory has provided buyers with more options, particularly in the mid-range price segments, which remain highly competitive. This market segment is influenced by a variety of factors, including rising interest rates, which have impacted affordability and caused some buyers to reconsider their purchasing options. Economic uncertainties, such as those related to fluctuations in the aerospace industry, also play a role in shaping buyer behavior. Additionally, shifting demographics, with younger buyers entering the market, are contributing to changes in housing preferences and demand patterns.

Condominiums

The condominium market in Brevard County has shown signs of stabilization, with sales volume declining slightly and price growth moderating. The increase in inventory has provided buyers with more choices, particularly in the more affordable segments. However, the market remains competitive for certain types of units, especially those with waterfront views or resort-style amenities that appeal to both full-time residents and seasonal buyers. Factors influencing this market include the relative affordability of condominiums compared to single-family homes, making them an attractive option for first-time homebuyers, retirees, and investors. The presence of desirable amenities and the convenience of lowmaintenance living also contribute to the ongoing demand for condominiums in Brevard County.

KEY TRENDS AND CHALLENGES

• Space Coast Economy: The region's robust aerospace industry and related businesses significantly contribute to economic growth and support housing demand, particularly in areas close to major employers.

• Coastal Living: Brevard County's proximity to the Atlantic Ocean and the Indian River Lagoon enhances its appeal, attracting buyers who value scenic views and access to outdoor recreational activities.

• Rising Interest Rates: Higher mortgage rates have impacted affordability, leading to a slowdown in buyer activity across all price segments, particularly in the mid-range market

• Affordability Concerns: Rising home prices, coupled with increasing interest rates, pose challenges for buyers, particularly first-time homebuyers, potentially limiting their ability to enter the market.

Condominiums

From January to June 2024, the inventory of homes priced over $1 million increased by 20.3% compared to the previous year.

Welcome to Palm Beach County

Palm Beach County is synonymous with luxury living and is renowned for its upscale communities and exclusive lifestyle. The real estate market in this region strongly reflects its affluent character, with a significant emphasis on high-end properties that cater to a discerning clientele. While overall sales have moderated slightly from their peak levels, Palm Beach County continues to attract a steady stream of affluent buyers, both domestic and international, who are drawn to the area's sophisticated and exclusive environment. Price appreciation remains robust, particularly in the luxury segment, as demand for high-end homes persists. The county's strategic location, with close proximity to major metropolitan areas like Miami and Fort Lauderdale, combined with its pristine beaches and upscale amenities, contributes to the ongoing demand for housing. The luxury market, in particular, continues to be a driving force behind the overall real estate market in Palm Beach County, underpinned by strong economic conditions and the region's appeal as a premier destination for luxury living.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$7,201,000,000

*DATA BASED ON 2022 REPORTS

The luxury single-family home market in Palm Beach County is a cornerstone of the region's real estate economy, characterized by its high-value transactions and exclusive properties. This segment is dominated by waterfront estates, golf course homes, and equestrian properties, all of which cater to high-net-worth individuals seeking privacy, luxury, and lifestyle amenities. The limited inventory of ultra-luxury properties in the county has led to substantial price appreciation, as strong buyer demand continues to outpace supply. Key factors driving this segment include the county’s robust economic conditions, which support a wealthy resident base, and the lifestyle appeal of waterfront living, with many properties offering direct access to the Atlantic Ocean or the Intracoastal Waterway. Additionally, the presence of world-class amenities, such as exclusive golf clubs, equestrian facilities, and luxury shopping districts, further enhances the desirability of these homes.

The luxury condominium market in Palm Beach County is a thriving and increasingly important segment of the overall real estate market. This segment is characterized by high demand for waterfront and oceanfront residences, which offer a combination of luxury living, convenience, and breathtaking views. Although the market has experienced some cooling from its peak, prices for luxury condos continue to rise, driven by the ongoing appeal of the condominium lifestyle. Buyers, including retirees, seasonal residents, and investors, are drawn to the low-maintenance living and the upscale amenities that these properties offer, such as concierge services, private beach access, and state-of-the-art fitness centers. The limited supply of luxury condominium units also contributes to the competitive nature of this market, as new developments struggle to keep pace with the demand.

Single-Family Homes

The broader single-family home market in Palm Beach County has recently experienced a period of slight cooling, with a decline in sales volume as compared to previous years. However, despite this moderation in activity, home prices have remained relatively stable, supported by strong demand in certain segments of the market. The increase in inventory has provided buyers with more options, particularly in the mid-range price segments, where competition has been less intense. However, competition for desirable properties, particularly those located in established neighborhoods and waterfront communities, remains high. Factors influencing this market include the rising interest rates, which have impacted affordability and caused some potential buyers to delay their purchase decisions. Additionally, economic uncertainties and shifts in buyer demographics are also playing a role in shaping the dynamics of the single-family home market in Palm Beach County.

Condominiums

The condominium market in Palm Beach County has shown signs of stabilization following a period of rapid growth. Sales volume has declined slightly, and price growth has moderated, reflecting a more balanced market. The increase in inventory has provided buyers with a wider selection of units, particularly in the more affordable segments. However, the market remains competitive for certain types of properties, especially those with waterfront views or located in high-demand areas. Factors influencing this market include the lifestyle preferences of buyers who are seeking lower-maintenance living options, as well as investor activity in rental properties, particularly in areas popular with seasonal residents and tourists. The ongoing development of new condominium projects is also adding to the inventory, providing buyers with more choices and contributing to the overall stability of the market.

BOCA RATON • DELRAY BEACH • JUPITER

KEY TRENDS AND CHALLENGES

• Luxury Lifestyle: Palm Beach County's reputation as a premier high-end destination continues to drive demand for luxury properties, particularly in exclusive communities and waterfront locations.

• Waterfront Demand: Properties with waterfront access, including those along the Atlantic Ocean and Intracoastal Waterway, command premium prices and remain highly sought after by affluent buyers.

• Limited Inventory: The supply of luxury properties remains constrained, contributing to higher prices and intensified competition among buyers for the most desirable homes.

• Rising Interest Rates: Higher mortgage rates have impacted affordability, leading to a slowdown in buyer activity across all price segments, particularly affecting mid-range buyers.

• Affordability Concerns: Rising home prices, combined with increasing interest rates, pose significant challenges for buyers, particularly first-time homebuyers, who may find it difficult to enter the market.

Condominiums

Pensacola • Ferry Pass • Brent

Escambia and Santa Rosa Counties

From January to June 2024, the inventory of homes priced over $1 million increased by 51.2% compared to the previous year.

Welcome to Escambia and Santa Rosa Counties

The Pensacola-Ferry Pass-Brent region, which includes Escambia and Santa Rosa counties, offers a compelling blend of coastal living and affordable housing options, making it an attractive area for a diverse range of buyers. While the overall real estate market has experienced a slowdown, particularly in sales volume, the region continues to draw interest from buyers who are captivated by its natural beauty, strategic military installations, and steadily growing economy. The luxury market, though relatively small compared to other coastal regions, exhibits potential for future growth as the area continues to develop and attract more affluent buyers. Price appreciation has moderated from its previous highs, yet the region's high quality of life and proximity to the Gulf Coast continue to support consistent housing demand. This balance between affordability and desirable coastal living positions the Pensacola-Ferry Pass-Brent region as a strong real estate market with unique opportunities.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury single-family home market in the PensacolaFerry Pass-Brent region, particularly in Panama City, represents a niche segment of the broader real estate landscape. Demand is particularly strong for waterfront properties and homes offering expansive views of the Gulf of Mexico, reflecting the region's appeal as a coastal destination. Although price appreciation has occurred, the market for luxury single-family homes remains less competitive compared to other Florida coastal regions. This is due to a more limited supply of ultra-luxury properties and a buyer pool that, while growing, remains relatively small. Factors influencing this segment include the enduring appeal of a coastal lifestyle, which drives demand for high-end properties, and the availability of homes in scenic, desirable locations. Additionally, the region’s economic conditions, supported by the presence of military installations and a growing local economy, also

contribute to the stability and gradual growth within the luxury single-family home market.

Luxury Condominiums

The luxury condominium market in the Pensacola-Ferry Pass-Brent region is still in its early stages, with limited activity in terms of closed sales and new listings. This suggests that there is either a lack of demand or an insufficient supply of luxury condos in the area. However, the emergence of new listings, particularly in beachfront locations, indicates that there is potential for future growth in this segment. Buyers in this market are typically drawn to the low-maintenance lifestyle that condominiums offer, combined with the appeal of waterfront living. The development of new luxury condominium projects, particularly those that cater to affluent buyers seeking beachfront properties, could stimulate increased demand and activity in this segment.

Condominiums

Single-Family Homes

The broader single-family home market in the PensacolaFerry Pass-Brent region has experienced a decline in sales volume, reflecting broader economic trends and shifts in buyer behavior. Despite this slowdown, home prices have moderated but remain above pre-pandemic levels, indicating that the market is still relatively strong. The increase in inventory has provided buyers with more options, particularly in the mid-range price segments, where competition is less intense. Economic conditions, such as rising interest rates and inflation, have impacted buyer confidence and affordability, leading some potential buyers to delay their purchasing decisions. Additionally, shifting demographics, with younger buyers entering the market, are also influencing the dynamics of the single-family home market. These buyers often seek more affordable homes that meet their lifestyle needs, which can shape demand patterns and pricing trends in the region.

Condominiums

The condominium market in the Pensacola-Ferry PassBrent region has also seen a decline in sales volume, mirroring trends in the broader real estate market. Prices have moderated from their peak levels, but like singlefamily homes, they remain above pre-pandemic levels. The increase in inventory has provided buyers with more choices, particularly in the more affordable segments of the market. Factors influencing the condominium market include the lifestyle preferences of buyers who are attracted to the lower-maintenance living that condos offer, as well as investor activity in rental properties. This is particularly relevant during peak tourist seasons, when demand for rental units is high. The presence of a diverse buyer pool, including retirees, young professionals, and investors, helps to sustain the condominium market, even in the face of broader economic challenges.

PENSACOLA

KEY TRENDS AND CHALLENGES

• Coastal Appeal: The region’s beaches and waterfront properties continue to attract buyers seeking the benefits of a coastal lifestyle, contributing to ongoing demand for both single-family homes and condominiums.

• Economic Factors: The region's economy, driven by key sectors such as tourism, military installations, and manufacturing, plays a critical role in influencing housing demand. Stable employment opportunities support a strong housing market, particularly for mid-range homes.

• Affordability: Compared to other coastal regions in Florida, the Pensacola-Ferry Pass-Brent area offers more affordable housing options, which is a significant draw for both local and out-of-state buyers.

• Natural Disasters: The region's susceptibility to hurricanes and other natural disasters remains a significant challenge for the real estate market. This risk can impact both property values and buyer confidence, especially in waterfront and coastal areas.

LUXURY MARKET

Charlotte County

From January to June 2024, the inventory of homes priced over $1 million increased by 71.3% compared to the previous year.

$1,000,000+ Single-Family Homes

Punta Gorda, located in Charlotte County, stands out for its blend of coastal charm and a welcoming environment for retirees. The area's real estate market reflects a mix of natural beauty and growing economic opportunities, making it a distinctive choice for homebuyers. While the overall market has shown a slowdown compared to peak levels, Punta Gorda continues to attract interest due to its appealing coastal lifestyle and expanding local economy. The luxury market, though relatively small, demonstrates significant potential for growth as the region develops further. Price appreciation has moderated but remains robust, supported by the county's attractive living conditions and its strategic position along the Gulf Coast. The steady influx of residents, coupled with increasing demand for both primary and vacation homes, underscores the market’s resilience and future potential.

2023 NET INCOME MIGRATION

$452,510,000

*DATA BASED ON 2022 REPORTS

$1,000,000+ Condominiums

Luxury Single-Family Homes

Punta Gorda’s luxury single-family home market is characterized by its focus on waterfront properties and homes with expansive water views. This niche segment has experienced considerable growth, with substantial price appreciation reflecting high demand. The limited availability of ultra-luxury homes contributes to the elevated prices, driven by both domestic and seasonal buyers seeking exclusive coastal living. The appeal of these properties is amplified by the area's natural beauty, including its waterfront and scenic views, which make them highly desirable. As Punta Gorda continues to develop, the luxury single-family market is likely to expand, with increased interest from affluent buyers drawn by the region's upscale living environment and growing reputation.

Luxury Condominiums

The luxury condominium market in Punta Gorda is emerging, with current activity indicating potential for future expansion. The market is still in its early stages, as evidenced by the limited number of closed sales and new listings. Despite these constraints, there is growing interest in waterfront condominiums, which are expected to become more prominent as the market matures. New developments are beginning to address this demand, offering opportunities for growth in this segment. As Punta Gorda’s real estate market evolves, the luxury condominium segment is anticipated to gain traction, particularly in prime waterfront locations that align with the area's appeal.

Punta Gorda

Welcome to Punta Gorda

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Punta Gorda has shown steady growth, characterized by increased sales volume and rising prices. The market has benefitted from an uptick in inventory, which has provided more options for buyers, particularly in the mid-range price segments. Key factors influencing this market include the area’s relative affordability compared to other coastal regions, which makes it an attractive option for many homebuyers. The growing retirement population continues to drive demand, alongside economic growth fueled by tourism and the retirement sector. These elements combine to support a stable and expanding single-family home market, despite broader market fluctuations.

Condominiums

The condominium market in Punta Gorda has also seen notable growth, with increases in both sales and prices. The rise in inventory has offered buyers more choices, although the market remains competitive, particularly for desirable properties. Factors driving this market include lifestyle preferences for low-maintenance living and increased investor activity, which supports demand for rental properties. The growing availability of units has helped stabilize the market, although competition remains high for condominiums in sought-after locations, especially those with waterfront views or appealing amenities.

OPEN MARKET

FRANCHISE OPPORTUNITIES

KEY TRENDS AND CHALLENGES

• Coastal Appeal: The region’s proximity to the Gulf Coast significantly enhances its appeal, driving interest in coastal properties and contributing to higher demand.

• Affordability: Punta Gorda offers a more affordable housing option compared to other coastal regions, making it an attractive choice for a diverse range of buyers, including retirees and seasonal residents.

• Retirement Community: The area’s growing retirement population continues to influence demand for both singlefamily homes and condominiums tailored to a retirement lifestyle.

• Limited Luxury Inventory: The scarcity of luxury condominium options presents challenges but also opportunities for market development, as demand for highend properties remains strong.

• Economic Factors: The local economy, bolstered by tourism, retirement, and outdoor recreation, plays a crucial role in shaping housing demand and influencing market trends.

$1,000,000+ Single-Family Homes

St. Lucie County

From January to June 2024, the inventory of homes priced over $1 million increased by 4.7% compared to the previous year.

Welcome to St. Lucie County

St. Lucie County presents a real estate market characterized by its blend of coastal living and affordability. Despite a moderation in overall sales from peak levels, the region remains attractive to buyers seeking a balance between urban amenities and natural beauty. Price appreciation has been observed, though at a more tempered pace compared to other coastal regions. The county's strategic location near larger metropolitan areas and its expanding population contribute to sustained housing demand. While the luxury market is relatively small, it demonstrates potential for growth as St. Lucie County continues to develop and attract interest from diverse buyer segments.

$1,000,000+ Condominiums

Luxury Single-Family Homes

The luxury condominium market in St. Lucie County is in its early stages. The limited number of closed sales and new listings suggests that both demand and supply for luxury condos are still developing. However, the presence of new listings points to potential future growth, particularly in desirable waterfront locations. As the county continues to grow and attract more affluent buyers, the luxury condominium market is expected to expand, though it remains relatively small at present. LUXURY MARKET

2023 NET INCOME MIGRATION

*DATA BASED ON 2022 REPORTS $285,960,000

The luxury single-family home market in St. Lucie County is a niche segment, with a particular focus on waterfront properties and homes offering water views. This segment has seen price appreciation driven by high demand, yet it remains smaller compared to other coastal counties due to a limited supply of ultra-luxury properties. The appeal of waterfront living and the county’s ongoing development contribute to the growth potential in this market. Despite the constraints on inventory, there is a strong interest in high-end homes that offer both privacy and scenic beauty.

Luxury Condominiums

Single-Family Homes

Condominiums

HUTCHINSON ISLAND

Single-Family Homes

The broader single-family home market in St. Lucie County has experienced a slight decline in sales, with prices continuing to rise at a moderated pace. Increased inventory has provided buyers with more choices, especially in the mid-range price segments. Key factors influencing this market include the area's affordability relative to other coastal regions, a growing retirement population seeking single-family homes, and the county's proximity to larger metropolitan areas which enhances its appeal to a diverse range of buyers.

Condominiums

The condominium market in St. Lucie County has shown signs of stabilization, with sales volume declining and price growth moderating. The increase in inventory has offered buyers more options, although the market remains competitive. Factors influencing this segment include lifestyle preferences for lower maintenance living and investor activity, particularly in rental properties. Additionally, the new development pipeline is adding to the inventory of condominium units, contributing to the market's ongoing evolution.

KEY TRENDS AND CHALLENGES

• Coastal Appeal: The county's proximity to the Atlantic Ocean enhances its appeal to buyers seeking coastal living.

• Affordability: Compared to most of Florida’s coastal regions, St. Lucie County offers more affordable housing options.

• Retirement Community: The area has a growing retirement population that influences housing demand.

• Limited Luxury Inventory: The scarcity of luxury condominium options limits the potential for market expansion.

• Economic Factors: The county's economy, supported by tourism, healthcare, and manufacturing, plays a significant role in influencing housing demand.

LUXURY MARKET

Tallahassee

Gadsden, Jefferson, Leon and Wakulla Counties

From January to June 2024, the inventory of homes priced over $1 million increased by 27.3% compared to the previous year.

Welcome to Tallahassee

Tallahassee’s real estate market is characterized by a unique blend of demand driven by its role as a state capital and its status as a college town. The market showcases a range of housing options, from luxury single-family homes to affordable condominiums. While the luxury segment is relatively niche compared to other regions, it demonstrates growth potential.

The presence of Florida State University and Florida A&M University plays a significant role in shaping housing demand. The city’s economy, supported by state government employment and educational institutions, contributes to a stable real estate market. Despite a competitive landscape, the market offers a variety of opportunities for different buyer segments.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Tallahassee’s luxury single-family home market remains a niche segment, characterized by high demand for waterfront properties, large estates, and homes in exclusive neighborhoods. Although the luxury market is smaller in comparison to other regions, there has been noticeable growth. The limited inventory of high-end properties has driven price appreciation. The appeal of larger properties with acreage and the favorable economic conditions support the market’s growth.

Luxury Condominiums

The luxury condominium market in Tallahassee is still developing. The segment is characterized by a limited number of closed sales and new listings, indicating a nascent stage. However, the introduction of new listings suggests potential for future growth, particularly in urban areas such as downtown. As the city continues to evolve, there may be increased demand for luxury condominiums, driven by urban development and changes in buyer preferences.

2023 NET INCOME MIGRATION

$19,980,000

*DATA BASED ON 2022 REPORTS

Tallahassee's unique position as a state capital, combined with its relatively lower property prices compared to coastal cities, continues to attract affluent buyers seeking space and exclusivity.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Tallahassee has experienced growth, with an increase in both sales volume and prices. The market benefits from increased inventory, offering more options, especially in the mid-range price segments. Key factors influencing this market include strong demand for student housing due to the presence of Florida State University and Florida A&M University, as well as employment opportunities related to state government. Additionally, Tallahassee’s affordability compared to coastal regions makes it an attractive option for a diverse range of buyers.

Condominiums

The condominium market in Tallahassee has shown growth, with rising sales and prices. The increase in inventory has provided buyers with more choices, although the market remains competitive. Factors contributing to this trend include a growing demand for rental units driven by students and a preference for lowermaintenance living. Investor activity also plays a role, particularly in rental properties.

TALLAHASSEE

KEY TRENDS AND CHALLENGES

• University Presence: The presence of Florida State University and Florida A&M University influences student housing demand and overall demographics.

• State Government: The state capital's presence contributes to employment opportunities and housing demand.

Limited Luxury Inventory: The lack of extensive luxury

condominium options limits market potential.

• Affordability: Compared to coastal regions, Tallahassee offers a more affordable cost of living.

• Economic Diversification: The city's economy is increasingly diversified beyond government and education.

Tampa • St. Petersburg • Clearwater

Hernando, Hillsborough, Pasco, and Pinellas County

From January to June 2024, the inventory of homes priced over $1 million increased by 53.9% compared to the previous year.

Welcome to Tampa Bay

The Tampa Bay region, comprising Hernando, Hillsborough, Pasco, and Pinellas counties, presents a dynamic and diverse real estate market characterized by its strong economic conditions, desirable lifestyle, and significant population growth. Despite a moderation in overall sales from peak levels, the region continues to be a highly attractive area due to its economic opportunities, robust job market, and appealing lifestyle. The luxury real estate segment in Tampa Bay remains particularly vibrant, benefiting from high buyer demand and limited inventory, which drives continued price appreciation. The area's favorable climate, extensive recreational amenities, and well-established infrastructure contribute to its enduring appeal.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$2,800,000,000

*DATA BASED ON 2022 REPORTS

The luxury single-family home market in the Tampa Bay region is a major driver of its real estate landscape. This segment features a wide range of premium properties, including waterfront estates, homes on golf courses, and residences in exclusive gated communities. The appeal of these properties is enhanced by the region's strong economic conditions, which support high-net-worth individuals seeking upscale living environments. The market is characterized by significant price appreciation due to the limited supply of ultra-luxury properties and high demand. Waterfront living is particularly sought after, offering both scenic views and proximity to urban amenities. As a result, competition for high-end properties remains intense, contributing to elevated price points and a thriving luxury market.

The luxury condominium market in Tampa Bay is robust, featuring a blend of waterfront and urban high-rise residences. This segment has shown strong performance, with continued price increases despite a slight moderation in sales volumes. The appeal of luxury condominiums is bolstered by their global desirability as second homes or investment properties, as well as the area's strong rental market for high-end units. New developments are actively adding to the inventory of luxury condominium units, which helps to meet the ongoing demand. The market benefits from Tampa Bay's attractive lifestyle amenities, including waterfront access and proximity to vibrant urban centers, which further drives interest in high-end condominiums.

Homes

Single-Family Homes

The broader single-family home market in Tampa Bay has experienced a period of cooling, with a slight decline in sales volumes. Despite this, prices for single-family homes continue to rise, though at a more moderated pace compared to the luxury segment. Increased inventory has provided buyers with a greater variety of options, particularly in the mid-range price segments. The market remains competitive, especially for properties in established neighborhoods and those offering desirable features such as waterfront access or proximity to excellent schools. Factors influencing this market include Tampa Bay's diverse economy, which supports a wide range of housing needs, and the area's ongoing appeal to families and professionals.

The condominium market in Tampa Bay has shown signs of stabilization, with both sales volume and price growth moderating from previous highs. Increased inventory has provided buyers with more choices, but the market remains competitive, particularly for condominiums with desirable amenities or locations, such as waterfront views or proximity to urban centers. The demand for lowermaintenance living options and the presence of investor activity in rental properties contribute to the market dynamics. New developments continue to expand the inventory, helping to meet demand and support a stable market environment.

BELLEAIR

MADEIRA BEACH

KEY TRENDS AND CHALLENGES

• Diverse Housing Options: The Tampa Bay region offers a wide range of housing options, including suburban singlefamily homes and urban condominiums, catering to various buyer preferences.

• Economic Growth: The area's expanding job market and business environment drive housing demand, attracting a diverse population and supporting real estate market activity.

• Lifestyle Amenities: The appeal of waterfront properties, golf courses, and other recreational amenities enhances the region's attractiveness, particularly in the luxury market.

• Rising Interest Rates: Higher mortgage rates have impacted affordability and slowed buyer activity across all price segments, creating challenges for prospective buyers.

• Affordability Concerns: Rising home prices, coupled with higher interest rates, pose challenges for buyers, especially first-time homebuyers, as they navigate a competitive market.

Condominiums

Condominiums

LUXURY MARKET

Venice • Sarasota • Bradenton

Manatee and Sarasota Counties

From January to June 2024, the inventory of homes priced over $1 million increased by 34.4% compared to the previous year.

Welcome to the Suncoast

The Sarasota-Bradenton region, encompassing Manatee and Sarasota counties, stands out as a dynamic real estate market renowned for its coastal lifestyle and vibrant cultural scene. Although overall sales have moderated from peak levels, the region remains highly attractive to a diverse population seeking an exceptional quality of life. The area's strong economy, bolstered by tourism, retirement communities, and various other industries, continues to drive housing demand. Price appreciation persists, particularly within the luxury segment, reflecting the ongoing desirability of the region. The area's appeal as a prime destination for both domestic and international buyers contributes to its market stability and resilience.

$1,000,000+ Single-Family Homes

$1,000,000+ Condominiums

Luxury Single-Family Homes

Luxury Condominiums

2023 NET INCOME MIGRATION

$3,851,000,000

*DATA BASED ON 2022 REPORTS

The luxury single-family home market in Sarasota and Manatee counties is a key component of the region's real estate landscape. This segment features an array of prestigious properties, including waterfront estates, homes on golf courses, and residences in exclusive gated communities. These high-end homes are characterized by their architectural significance, expansive floor plans, and resort-like amenities, making them highly sought after. The limited inventory of ultra-luxury properties, combined with robust demand from both domestic and international buyers, has driven substantial price appreciation. The market's strength is underpinned by the area's appeal for its coastal setting and upscale living options.

The luxury condominium market in Sarasota and Manatee counties is flourishing, with a strong emphasis on waterfront and bayfront residences. These properties often feature panoramic views and world-class amenities, including fitness centers, spas, and concierge services. Despite a slight moderation in sales from peak levels, prices for luxury condominiums remain robust, reflecting the enduring appeal of the condominium lifestyle. The continued interest in high-end, amenityrich properties underscores the strength of this market segment and its appeal to a sophisticated buyer demographic.

Single-Family Homes

Condominiums

Single-Family Homes

The broader single-family home market in Sarasota and Manatee counties has entered a phase of stabilization. While sales volume has declined slightly from peak levels, prices have remained relatively stable. The increased inventory has provided buyers with more options, especially in the mid-range price segments. Despite this, competition for desirable properties—particularly those in established neighborhoods or with water views—remains strong. The market is characterized by a balanced supply of homes, though certain segments continue to experience heightened demand.

Condominiums

The condominium market in Sarasota and Manatee counties has shown signs of stabilization. Sales volume has decreased, and price growth has moderated compared to previous years. The rise in inventory has offered buyers a wider range of choices, particularly in the mid-range and entry-level segments. Nevertheless, the market remains competitive, especially for units with desirable features such as waterfront access or premium amenities. The competitive nature of this segment reflects ongoing interest in condominium living, despite a more tempered growth trajectory.

SUNCOAST

KEY TRENDS AND CHALLENGES

• Coastal Lifestyle: The region's extensive beaches, boating opportunities, and outdoor recreational activities are significant drivers of housing demand.

• Arts and Culture: Sarasota's reputation as a cultural hub attracts a sophisticated buyer demographic, enhancing the appeal of both luxury and mid-range properties.

• Retirement Community: The area's popularity among retirees seeking a high quality of life supports continued demand for various housing types.

• Luxury Market Strength: The luxury segment remains a significant market driver, supported by strong buyer demand and limited inventory.

• Rising Interest Rates: Higher mortgage rates have impacted affordability and slowed buyer activity across all price segments.

• Inventory Challenges: While overall inventory has increased, the supply of affordable housing remains constrained, presenting challenges for many buyers.

• Affordability Concerns: Rising home prices combined with higher interest rates pose difficulties for buyers, particularly first-time homebuyers.

• Environmental Factors: Coastal erosion and potential flooding issues are challenges for waterfront properties, affecting their long-term value and appeal.

This is Us

Like every client and every real estate advisor, we too have a unique story. It's one steeped in iconic heritage that drives our resolve to change the way consumers experience the properties, neighborhoods and the overall process of buying and selling a home. The world of Engel & Völkers was created and continues to grow around the mission to possess the highest levels of competency and client service. Through unrivaled brand consistency, sophisticated systems and innovations, we've done what no other European luxury real estate franchise has been able to do—successfully establish itself in the Americas.

Engel & Völkers Florida

At Engel & Völkers Florida, we are dedicated to delivering a fresh, bespoke approach to luxury real estate. We focus on creating a white-glove concierge client experience, tailored to meet the discerning needs of today’s homeowners. What sets Engel & Völkers apart is our commitment to personalized

service. We cater to both private individuals and institutional clients, offering a meticulously tailored range of luxury services. From residential, commercial, and developments to yachting, we redefine opulence at every step. Each of our brokerages operates independently, ensuring a unique and localized touch to our services.

Buying and Selling with Us

Engel & Völkers offers a personalized buying and selling experience, understanding that luxury is a personal and priceless connection to our homes. With trusted advisors, we guide you to find the perfect home, whether around the corner or across the globe. From search to sale, we provide transparency, insider insights, skillful negotiation, and distinguished care. Choose Engel & Völkers for an unforgettable real estate experience.

Become a Luxury Real Estate Advisor

Every individual who is part of Engel & Völkers, at every level and in every location, embodies an ethos of leadership. It's this mindset that upholds the highest standards expected by our clients and our communities. At Engel & Völkers, success is achieved and decisions are made with one key factor in mind: our people. We are a force of many, not simply a few.

More than real estate agents, our advisors take full advantage of a brand built and refined for real estate professionals looking to elevate their business. With enhanced marketing reach, global connections, and the ability to learn from the best, Engel & Völkers is unlike any other. In fact, the average commission income at Engel & Völkers Florida is X% (or $X) higher than the average percentage/dollar amount provided by all FAR members, reflecting the added value and opportunity our brand offers.

At Engel & Völkers, we strive to create a world that promotes acceptance, inclusion, and understanding, as these values are essential to achieving progress and fostering unity. We encourage collaboration and respect amongst individuals from different backgrounds, experiences, and perspectives and advocate for fair housing for all.

Engel & Völkers Development Services stands as a dedicated division tailored to meet the unique needs of builders, developers, and investor partners globally. With expert teams spanning five continents and over 400 projects, ranging from townhome communities to mixed-use high-rise buildings, our services are finely tuned to each project's specifications.

Engel & Völkers Private Office caters to high-value real estate portfolios globally, including leaders in various fields. Private Office advisors, recognized for exemplary service and market leadership, represent premium real estate in exclusive locations. With access to top-tier marketing, they handle exclusive properties with the utmost discretion and professionalism.

ENGEL & VÖLKERS

Franchise Opportunities in Florida

Engel & Völkers isn't just a brand; it's a transformative haven for brokers, redefining the benchmarks of success in the ever-evolving luxury real estate market. Choosing Engel & Völkers propels you into a realm of unparalleled opportunities, seamlessly integrating you into an esteemed global referral network. It doesn't just offer access; it bestows upon you the distinguished honor of exclusive brand affiliation within your local market, presenting the enticing prospect of securing coveted top-tier listings. Whether you're a seasoned broker looking to expand your influence or a newcomer stepping into the dynamic realm of real estate, Engel & Völkers remains steadfast in its commitment to fostering continual growth.

This unwavering commitment takes tangible form through personalized coaching, unyielding leadership support, and the seamless integration of cuttingedge technology, ensuring that your journey with Engel & Völkers not only meets but consistently exceeds conventional expectations.

Successfully Independent

Embarking on a transformative odyssey into the realm of luxury real estate with Engel & Völkers is an invitation to be part of the quintessence of a global network deeply rooted in European heritage. Beyond being a mere brand, Engel & Völkers encapsulates a vision that transcends the conventional boundaries of real estate transactions. In the Engel & Völkers perspective, luxury is an art—an experience that seamlessly weaves together beauty, knowledge, and the meticulous fusion of context, comfort, and craftsmanship.

The exclusive affiliation with the Engel & Völkers name not only distinguishes you within your market but also positions you to attract top listings. Beyond the local scope, enjoy the benefits of a collaborative and global referral network, working seamlessly to amplify your success. With a commitment to excellence, the brand ensures you have access to hands-on coaching and guidance at every step of your journey, backed by renowned leadership and support from the corporate team to collaborative network leaders.

Recognizing the inherent uniqueness of each market and individual, Engel & Völkers not only tailors but intricately weaves its approach to harmonize with your distinctive preferences. Whether navigating the landscape of starter homes or delving into the exquisite realm of dream residences, Engel & Völkers ensures that luxury becomes more than a concept—it evolves into a personal statement. This commitment isn't just a promise; it manifests in meticulous attention to detail, expert knowledge, and the consistent delivery of discreet white-glove service—all meticulously customized exclusively for you.

In the dynamic world of buying or selling, Engel & Völkers guarantees not just an experience but an extraordinary journey, characterized by a global network that extends far beyond conventional coverage. It's more than resources; it provides a sense of peace, assurance, and empowerment— whether you're navigating the intricacies of the local market or stretching your ambitions across international borders. Collaborate with us, share ideas, and

harness the transformative power of referrals, connecting to an ever-expanding community of discerning global homebuyers.

Within the vibrant tapestry of real estate, where listings abound and houses vary, Engel & Völkers doesn't just embrace a narrative; it crafts an epic tale that transcends the ordinary. It's about more than facilitating the acquisition of a new home; it's about unveiling the life that awaits. Our enriched vision doesn't just add depth to your real estate journey; it transforms it into a sprawling masterpiece—an extraordinary and unforgettable experience that defies the expected norms of the industry.

Franchise with us

Distinguish yourself from your competition.

ICONIC

We are where you are

Our shops in Florida

30A Beaches (850) 888-2642

30abeaches@evrealestate.com

4923 East County Highway 30A, Bldg A Santa Rosa Beach, FL

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clermont@evrealestate.com 17301 Pagonia Road, Suite 300 Clermont, FL

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coconutgrove@evrealestate.com 3162 Commodore Plaza, Suite 1A Miami, FL

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hutchinsonisland@evrealestate.com

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Jacksonville Beach (904) 372-4711

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Madeira Beach (727) 394-7365

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marathon@evrealestate.com 1477 Overseas Highway Marathon, FL

Marco Island (239) 963-4223

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599 South Collier Boulevard, Suite 111 Marco Island, FL

Melbourne Beachside (321) 254-5275

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Melbourne Downtown (321) 254-5275

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Miami (305) 913-5499

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Naples (941) 388-9800

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ocala@evrealestate.com

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7600 Dr. Phillips Boulevard #42 Orlando, FL

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Pensacola (850) 712-2874

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Pompano Beach (754) 206-3900

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San Marco (904) 372-4711

sanmarco@evrealestate.com 1611 Atlantic Boulevard Jacksonville, FL

Sarasota (941) 388-9800

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22 South Links Avenue, Suite 201 Sarasota, FL

South Tampa (813) 448-2876

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724 South Dale Mabry Highway Tampa, FL

St. Augustine (904) 770-5770

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6401 A1A South St. Augustine, FL

St. Augustine Beach (904) 770-5770

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11 14th Lane St. Augustine, FL

St. Pete (727) 295-0000

stpete@evrealestate.com

102 2nd Avenue Northeast #101B

St. Petersburg, FL

St. Pete Beach (727) 295-0000

stpetebeach@evrealestate.com

6680 Gulf Boulevard

St. Pete Beach, FL

Stuart (772) 494-6999

stuart@evrealestate.com

600 Southeast Ocean Boulevard Stuart, FL

Tallahassee (850) 807-4473

tallahassee@evrealestate.com

1400 Village Square Blvd, Suite 3, Box 111

Tallahassee, FL

Tampa Downtown (813) 352-2933

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501 East Kennedy Boulevard, Suite 1400 Tampa, FL

The Ocean Resort Residences (561) 222-3053

niliana.garcia@evrealestate.com

551 North Fort Lauderdale Beach Boulevard Fort Lauderdale, FL

Trinity (775) 842-0104

trinity@evrealestate.com

3047 Alachua Way, Suite 103

New Port Richey, FL

Venice Downtown (941) 388-9800

venicedowntown@evrealestate.com

201 Miami Avenue West Venice, FL

Vero Beach (772) 480-1467

verobeach@evrealestate.com

821A Beachland Boulevard

Vero Beach, FL

Wellington (561) 791-2220

wellington@evrealestate.com

10620 West Forst Hill Boulevard, Suite 40 Wellington, FL Coming soon

Bonita Springs

Estero Key West

Lakewood Ranch

Miami South Beach

Naples Third Street

ABOUT US

Our exclusive business model has earned us recognition for our ability to recruit, train, and equip some of the finest professionals in the real estate industry. Engel & Völkers Florida empowers its franchisees to seize the premium market, facilitating market share growth and enhancing their bottom line. Committed to excellence, we offer unwavering support to our advisors. From premium business services and cutting-edge marketing programs to a global network of real estate professionals, property listings, and market insights, we provide the tools to succeed.

Details

Publisher Engel & Völkers MLP FLorida 633 N Tamiami Trail Unit 201, Naples, FL 34102

VP, Business Development & Performance Linzee Werkmeister

Marketing & Brand Manager Kaitlin Weigelt

Photo Credits

AdobeStock, Engel & Völkers Americas, Engel & Völkers GmbH, envanto, Map data ©2024 Google

Florida, August 2024. Engel & Völkers. All rights reserved. Each brokerage is independently owned and operated. All information provided is deemed reliable but is not guaranteeed and should be independently varified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your lisiting. Engel & Völkers and its independent Franchisees are Equal Opportunity Employers and fully support the prinicples of the Fair Housing Act.

Contact us to learn more about joining as a franchisee or advisor.

Peter Giese CEO (239) 348-9000 florida@evrealestate.com

Craig Anderson SVP Growth (954) 805-0052 craig.enderson@evrealestate.com

Timo Khammash Co-Owner

Craig Anderson SVP Growth

Rebecca Schmidgall SVP, Operations

Oliver Tonn Co-Owner

Vincent Varallo Talent Attraction Coordinator

Karen McLead Director of Legal Affairs

Peter Giese CEO

Linzee Werkmeister VP, Business Development & Performance

Kaitlin Weigelt Marketing & Brand Manager