Miami Luxury Market Drops but Still Hot | Real Estate News

Real Estate News Today | 2 Min News | The Daily News Now! · Sep 1, 2026 · 1m

Miami’s luxury real estate market saw a major splash last week, with a Pinecrest mansion hitting $16.3M and 12 high-end deals totaling $83.4M in asking price — though that’s down from the prior week’s $250M. Eight single-family homes averaged over $7M each, spending nearly 108 days on market, while four condos, including a $10.4M Miami Beach duplex with ocean views, closed for $26.7M total. Despite the dip, top-tier properties are still flying off the market — especially those built by local developers like Fouad Kraishan, who turned a $1.3M lot into a $14.3M spec home with sky terrace…