Florida's real estate market continues to adjust after several years of major change, but one segment is showing notable strength. Luxury buyers remain active, and the latest statewide sales figures suggest high-end condominiums are attracting particularly strong interest.
According to Florida Realtors®, closed sales of condominiums and townhomes priced at $1 million or more increased by more than 31% in July compared with the same month last year. Million-dollar single-family home sales were also up more than 27%. While South Florida remains the state's most established luxury market, the strength in high-end sales is increasingly a statewide story, with growing interest in Central and Northeast Florida as buyers look beyond the state's traditional luxury destinations.
What I find particularly interesting is not simply that luxury sales are increasing, but what buyers appear to be looking for. Florida Realtors Chief Economist Dr. Brad O'Connor noted that luxury condominium sales tend to concentrate in newer buildings and desirable coastal areas, where buyers place greater emphasis on location, amenities, and lifestyle.
That description closely reflects what I am seeing here in Palm Coast and particularly at The Ritz-Carlton Residences at Hammock Dunes.
Higher interest rates continue to affect much of the residential real estate market, but affluent buyers often depend less on traditional financing. Some purchase with cash, make substantial down payments, or use equity from another property, making interest rates less influential in their decision.
That helps explain why luxury real estate can perform very differently from the broader housing market. At this level, the decision is often about finding a property that offers something difficult to duplicate rather than simply finding another home.
For condominium buyers in particular, newer construction can be a major part of that equation. Modern residences, current building standards, high-quality finishes, extensive amenities, and desirable locations can create a very different proposition from the older condominium inventory that makes up much of Florida's coastline.
The July increase was not an isolated month. Florida Realtors reported that the luxury condominium and townhouse segment has performed strongly throughout 2026. In fact, the more than 31% year-over-year increase in July was the second-lowest annual gain recorded this year for properties priced at $1 million and above.
The strength also extends below the $1 million threshold. Condo and townhouse sales between $500,000 and $1 million increased 24% year over year in July.
For me, these numbers reinforce something that has become increasingly apparent: buyers are still willing to invest substantially in Florida real estate when the property, location, and lifestyle justify it.
Palm Coast has traditionally operated somewhat outside Florida's better-known luxury markets. Naples, Palm Beach and Miami have long commanded the attention of affluent buyers, while Northeast Florida has developed at a much different pace.
That shift is now well underway. As I discussed in my article on why Central and Northeast Florida are attracting global luxury brands, several major luxury names are now investing in this part of the state. Buyers are also discovering they don't necessarily have to choose South Florida to find exceptional coastal real estate.
Palm Coast offers a different experience. Development is generally lower density, the beaches remain comparatively uncrowded, and communities such as Hammock Dunes combine oceanfront living with private club amenities and championship golf.
Those characteristics matter even more as buyers increasingly prioritize lifestyle and location over square footage.
The Ritz-Carlton Residences at Hammock Dunes arrive at an interesting point in this shift. The development combines new construction, direct oceanfront living, private residential amenities, and Ritz-Carlton service within one of Palm Coast's most established private communities.
It also offers something particularly difficult to replicate along Florida's coast: direct oceanfront residences with immediate access to the private Hammock Dunes Club and its championship golf, including the oceanfront Links Course.
I believe this combination is important because it closely matches the qualities attracting today's luxury condominium buyer. It is not simply about owning an expensive residence. Buyers at this level increasingly want the location, design, services and surrounding lifestyle to work together.
The recently opened sales gallery makes that experience much easier to understand. Buyers can now see full-scale representations of the kitchen, bathroom, and living areas and experience many of the materials, cabinetry, fixtures, finishes, and appliances planned for the residences rather than relying solely on renderings and floor plans.
I don't expect Palm Coast to become another Miami or Palm Beach, and I don't think it should. Part of its appeal is precisely that it offers an alternative to the density and pace of Florida's larger luxury markets.
What is changing is the level of real estate now available here. The arrival of The Ritz-Carlton Residences at Hammock Dunes introduces a globally recognized luxury residential brand to a market already known for oceanfront living, golf, and a more private coastal lifestyle.
The latest statewide sales figures don't tell us exactly what will happen in Palm Coast, and I would never suggest that one month of Florida sales data predicts the future of an individual development. They do, however, offer useful insight into where luxury buyers are active and what they prioritize. Right now, newer coastal properties offering strong amenities, location, and lifestyle are clearly finding buyers.
As part of Coastal Gateway Real Estate Group, the authorized marketing agency and only brokerage located on-site, I can personally arrange a visit to The Ritz-Carlton Residences at Hammock Dunes sales gallery, take you to the oceanfront property site, and introduce you to the Hammock Dunes community.
For buyers interested in the private club, I can also coordinate a guided tour of the Hammock Dunes Club and its golf, dining, racquet, fitness, and other amenities.
To learn more about current residence availability, floor plans, and pre-development opportunities, please contact me directly.
According to Florida Realtors®, closed sales of condominiums and townhomes priced at $1 million or more increased by more than 31% in July compared with the same month last year. Million-dollar single-family home sales were also up more than 27%. While South Florida remains the state's most established luxury market, the strength in high-end sales is increasingly a statewide story, with growing interest in Central and Northeast Florida as buyers look beyond the state's traditional luxury destinations.
What I find particularly interesting is not simply that luxury sales are increasing, but what buyers appear to be looking for. Florida Realtors Chief Economist Dr. Brad O'Connor noted that luxury condominium sales tend to concentrate in newer buildings and desirable coastal areas, where buyers place greater emphasis on location, amenities, and lifestyle.
That description closely reflects what I am seeing here in Palm Coast and particularly at The Ritz-Carlton Residences at Hammock Dunes.
Luxury Buyers Are Operating in a Different Market
Higher interest rates continue to affect much of the residential real estate market, but affluent buyers often depend less on traditional financing. Some purchase with cash, make substantial down payments, or use equity from another property, making interest rates less influential in their decision.
That helps explain why luxury real estate can perform very differently from the broader housing market. At this level, the decision is often about finding a property that offers something difficult to duplicate rather than simply finding another home.
For condominium buyers in particular, newer construction can be a major part of that equation. Modern residences, current building standards, high-quality finishes, extensive amenities, and desirable locations can create a very different proposition from the older condominium inventory that makes up much of Florida's coastline.
Florida's Luxury Condo Market Has Been Strong Throughout 2026
The July increase was not an isolated month. Florida Realtors reported that the luxury condominium and townhouse segment has performed strongly throughout 2026. In fact, the more than 31% year-over-year increase in July was the second-lowest annual gain recorded this year for properties priced at $1 million and above.
The strength also extends below the $1 million threshold. Condo and townhouse sales between $500,000 and $1 million increased 24% year over year in July.
For me, these numbers reinforce something that has become increasingly apparent: buyers are still willing to invest substantially in Florida real estate when the property, location, and lifestyle justify it.
Why This Is Relevant to Palm Coast
Palm Coast has traditionally operated somewhat outside Florida's better-known luxury markets. Naples, Palm Beach and Miami have long commanded the attention of affluent buyers, while Northeast Florida has developed at a much different pace.
That shift is now well underway. As I discussed in my article on why Central and Northeast Florida are attracting global luxury brands, several major luxury names are now investing in this part of the state. Buyers are also discovering they don't necessarily have to choose South Florida to find exceptional coastal real estate.
Palm Coast offers a different experience. Development is generally lower density, the beaches remain comparatively uncrowded, and communities such as Hammock Dunes combine oceanfront living with private club amenities and championship golf.
Those characteristics matter even more as buyers increasingly prioritize lifestyle and location over square footage.
The Ritz-Carlton Residences Fit the Direction of the Market
The Ritz-Carlton Residences at Hammock Dunes arrive at an interesting point in this shift. The development combines new construction, direct oceanfront living, private residential amenities, and Ritz-Carlton service within one of Palm Coast's most established private communities.
It also offers something particularly difficult to replicate along Florida's coast: direct oceanfront residences with immediate access to the private Hammock Dunes Club and its championship golf, including the oceanfront Links Course.
I believe this combination is important because it closely matches the qualities attracting today's luxury condominium buyer. It is not simply about owning an expensive residence. Buyers at this level increasingly want the location, design, services and surrounding lifestyle to work together.
The recently opened sales gallery makes that experience much easier to understand. Buyers can now see full-scale representations of the kitchen, bathroom, and living areas and experience many of the materials, cabinetry, fixtures, finishes, and appliances planned for the residences rather than relying solely on renderings and floor plans.
A Different Kind of Florida Luxury
I don't expect Palm Coast to become another Miami or Palm Beach, and I don't think it should. Part of its appeal is precisely that it offers an alternative to the density and pace of Florida's larger luxury markets.
What is changing is the level of real estate now available here. The arrival of The Ritz-Carlton Residences at Hammock Dunes introduces a globally recognized luxury residential brand to a market already known for oceanfront living, golf, and a more private coastal lifestyle.
The latest statewide sales figures don't tell us exactly what will happen in Palm Coast, and I would never suggest that one month of Florida sales data predicts the future of an individual development. They do, however, offer useful insight into where luxury buyers are active and what they prioritize. Right now, newer coastal properties offering strong amenities, location, and lifestyle are clearly finding buyers.
Experience Hammock Dunes for Yourself
As part of Coastal Gateway Real Estate Group, the authorized marketing agency and only brokerage located on-site, I can personally arrange a visit to The Ritz-Carlton Residences at Hammock Dunes sales gallery, take you to the oceanfront property site, and introduce you to the Hammock Dunes community.
For buyers interested in the private club, I can also coordinate a guided tour of the Hammock Dunes Club and its golf, dining, racquet, fitness, and other amenities.
To learn more about current residence availability, floor plans, and pre-development opportunities, please contact me directly.
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