South Florida continues to dominate the U.S. luxury real estate market, with Miami claiming the nation’s three most expensive home sales in February 2024, according to a Redfin report. Despite rising insurance costs and the looming threats of climate change, the region remains a top destination for the ultra-wealthy.

The priciest sale in February was a $49 million estate in Manalapan, a wealthy enclave south of Palm Beach. Palm Beach County secured four of the top ten luxury sales nationwide, including a $48 million Jupiter mansion and a $40 million estate on Billionaires’ Row. Meanwhile, Miami Beach made its mark with a $35.6 million beachfront home in Altos del Mar, ranking fifth, and a $31 million property on Allison Island, landing in tenth place.

South Florida’s luxury appeal extends beyond recent sales—currently, the most expensive home listing in the U.S. is a $285 million compound in Manalapan. Even as economic and environmental challenges persist, the region’s prestige in the high-end market remains unshaken.

(source: Axios, Redfin, Kaysha)