Unlocking Florida's Luxury Real Estate: Essential Buyer Statistics and Trends for 2024–2025

As a dedicated real estate professional with Coldwell Banker Global Luxury, I've had the privilege of guiding high-net-worth clients through Florida's vibrant property market for years. From the sun-drenched shores of Vero Beach to the bustling enclaves of Miami, Florida continues to captivate buyers with its unparalleled lifestyle, tax advantages, and investment potential. But what does the data tell us about who's buying, why, and where the market is headed in 2024–2025? Drawing from the latest insights from the National Association of Realtors (NAR), Florida Realtors, and leading industry reports, this post breaks down the key statistics shaping our Sunshine State's residential landscape. Whether you're a prospective buyer eyeing a waterfront estate or a seller positioning your luxury home for top dollar, these trends offer invaluable context.

 

Florida's housing sector remains a beacon of strength, fueled by domestic relocations, retiree migrations, and a robust international influx. Despite affordability challenges and elevated mortgage rates hovering around 6.3–6.5%, the state has seen steady demand, with inventory growth providing a breath of fresh air for buyers. Here's a quick overview of the aggregate metrics:

 

 

Florida's allure—no state income tax, endless sunshine, and lucrative rental yields—has drawn ~3.1 million new residents over the past decade, akin to relocating an entire Los Angeles population southward. Yet, with mortgage rates influencing buyer behavior, we're seeing a pivot toward "refuge markets" like Vero Beach, where affordability meets luxury.

 

Florida buyers' trend older and wealthier than the national norm, but a post-pandemic surge in younger migrants (ages 25–44) is reshaping the profile. Families prioritize value-driven suburbs, while retirees seek active communities.

 

This generational shift underscores a market evolving beyond its retiree roots, with millennials driving suburban demand.

 

Florida reigns as the U.S.'s top destination for foreign purchasers, snagging 21% of the nation's 78,100 international residential deals ($56 billion total) in 2024–2025. Here, 16,400 foreign buyers snapped up properties (5% of sales), injecting $10.4 billion—a 50% YoY jump, though shy of 2020 peaks. Cash deals dominate at 67%, shielding against currency fluctuations.

Demographics skew high-net-worth: 56% are U.S. residents (immigrants/visa holders), median age 45–55, with 90% visiting pre-purchase. High prices deterred 70% of prospects (42% top reason), yet luxury/vacation segments thrive.

 

Lifestyle and economics propel purchases, with internationals leaning into diversification.

 

 

Challenges persist: 32% of internationals flag costs, 17% financing. Yet, 88% of buyers enlist agents, highlighting the value of expert guidance.

 

Buyers favor single-family homes (76%) and townhomes, with 47% earmarked for vacation/rental use—especially waterfront condos in Miami-Fort Lauderdale (49% of foreign buys). Median international price: $416,000 in FL ($494,400 nationally); average foreign spend: $780,300.

 

Looking to 2025–2026: Expect 2–3% price growth, bolstered by +4.5% inventory and potential rate dips to 6.3%. First-timers may rebound, and a softer USD could lift international volume. Regional hotspots like Vero Beach will shine for balanced luxury and accessibility.

 

Florida's buyer mosaic—diverse, dynamic, and discerning—fuels a market ripe for opportunity. As international investors (21% of U.S. foreign sales) and domestic relocators converge, properties like those in Vero Beach offer timeless appeal. At Coldwell Banker Global Luxury, we're equipped to navigate these trends, from bespoke syndication on James Edition and Mansion Global to cinematic tours that captivate global audiences.

 

Ready to capitalize? As your Vero Beach luxury specialist, I'm here to craft a tailored strategy for buying or selling at the pinnacle of Florida real estate. Contact me today at (772) 713-9455 or visit our website: