Luxury homes under construction in the city of West Palm Beach recorded a strong annual growth of 30% in January 2026, marking the highest increase among the most densely populated metropolitan areas in the United States.
The growth in luxury home sales in the city was nearly six times faster than that of non-luxury homes, which rose by only 5.2%. Meanwhile, West Palm Beach went against the national trend, as luxury home sales across the United States declined by 3.6%.
Luxury home prices also saw a notable increase, with the median sale price rising by 10.7% year-over-year to reach $4.2 million, significantly exceeding the national rate of price growth.
This strong performance is attributed to the influx of wealthy buyers coming from high-tax states such as New York and California, seeking a more favorable tax environment and a milder climate. This trend has boosted demand for luxury real estate, particularly given the limited supply of waterfront properties.
In contrast, new listings of luxury homes for sale in the city declined by 4.3%, contributing to continued price pressures and the rising value of luxury real estate assets.
