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 ...