The Pulse of the $2M+ Market
Fewer Listings, Faster Absorption
Inventory at the very top of the market remains limited. Homes and condos listed above $2M are spending less time on the market compared to last year, particularly in Boca Raton and West Palm Beach. Buyers are motivated, and turnkey, design-forward properties are often receiving multiple offers.
Where the Action Is
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Boca Raton: Waterfront condos and Intracoastal estates with dockage are still leading in demand. Buyers from the Northeast and Montreal dominate this segment.
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West Palm Beach: New construction along Flagler Drive and the Northwood district is attracting attention from younger buyers looking for walkability and cultural access.
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Pompano Beach: Ultra-modern, boutique-style buildings (like Armani Casa Pompano and W Residences) are delivering a new definition of quiet luxury at a competitive price-per-foot compared to Miami.
New Development Momentum
Pre-Construction Still Wins
Developers in Palm Beach County are leveraging limited land supply and rising demand for branded residences. Projects like The Ritz-Carlton Residences in West Palm Beach and Armani Casa in Pompano are appealing to buyers who want predictable finishes, curated design, and concierge-level living.
Deposit Structures Matter
A key driver of sales is flexibility in deposit schedules. “Friends & Family” opportunities or staged deposits over construction milestones are giving buyers more confidence in committing early. This trend is expected to expand into 2026 launches.
Buyer Profiles: Who’s Spending $2M+
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Northeast & Canada (Montreal/Quebec): Cash-heavy, often seeking second or third homes with short-term rental potential.
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California & Chicago Buyers: Drawn to Florida’s tax climate and waterfront lifestyle.
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European Buyers: Attracted by branded residences with international recognition (Armani, Ritz, St. Regis).
Most buyers are end-users—families relocating, empty-nesters downsizing into condos, and international buyers seeking a pied-à-terre with flexibility.
Price-Per-Foot Reality Check
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Boca Raton waterfront condos: $1,400–$2,000 PSF
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West Palm pre-construction high-rise: $1,200–$1,600 PSF
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Pompano new luxury towers: $1,100–$1,400 PSF (value play compared to Miami at $2,500+ PSF)
The spread makes Pompano and West Palm attractive to buyers priced out of Miami or Palm Beach Island, but still seeking brand-name architecture and ocean access.
Lifestyle Value: Beyond the Numbers
Culture & Convenience
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West Palm: Art, theater, and restaurants within walking distance of new developments.
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Boca Raton: Schools, golf, yacht clubs—appealing to relocating families.
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Pompano: More relaxed, “resort living every day” with direct ocean access.
Long-Term Outlook
Florida’s tax advantages (no state income tax, homestead benefits) continue to add weight to the investment case. With limited coastal land for future projects, today’s luxury purchases carry strong long-term positioning.
Tips for Buyers Above $2M
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Tour Pre-Market Units: Many of the best residences are sold before public release.
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Understand Deposit Terms: Every building structures deposits differently—know your exposure and timeline.
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Plan for Waterfront Access: If dockage or ocean views are a must, act early; supply is shrinking.
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Think Long-Term Lifestyle: Consider not just the home, but the community, amenities, and cultural fit.
Palm Beach County’s luxury market above $2M is alive with movement—particularly in Boca Raton, West Palm Beach, and Pompano Beach. With international buyers flowing in and new developments raising the design bar, now is an opportune moment to evaluate your next move.
Considering a private preview? The Worth Group curates one-to-one tours of on-market and pre-construction opportunities across Palm Beach County. Contact us at 561-639-2149
