Miami Luxury Real Estate Market Insights from Ashley Cusack
Miami’s luxury real estate market continues to attract serious attention in 2026 — but buyers are asking better questions.
They are no longer simply asking whether Miami is “hot.” They want to know where the value is, which neighborhoods have long-term strength, whether there is room to negotiate, how insurance and condo regulations affect decisions, and what makes a property truly worth $10 million, $20 million or more.
For buyers considering a significant home in Coral Gables, Coconut Grove, Pinecrest, South Miami, Ponce-Davis, Brickell, Gables Estates or Miami Beach, the market is highly nuanced. The best opportunities are not always the most discounted properties. Often, they are the ones with lasting scarcity: waterfront, land, privacy, architecture, gated security, views, walkability or a location that cannot be recreated.
Ashley Cusack has spent more than 35 years advising buyers and sellers across Miami’s luxury residential market. With more than $1.6 billion in career sales and a track record that includes the landmark $106,875,000 sale of The Arsht Estate, Ashley brings a deeply informed perspective to what luxury buyers are asking right now.
She is also currently representing one of Miami’s most significant residential offerings: 3149 Brickell Avenue, a $110 million waterfront estate in Coconut Grove set on 1.61 acres with more than 170 feet directly on Biscayne Bay.
Here are the 10 questions luxury buyers are asking about the Miami real estate market in 2026.
Quick Answer: Is Miami Still a Good Place to Buy Luxury Real Estate in 2026?
Yes — but buyers need to be strategic.
Miami remains one of the most important luxury real estate markets in the country, especially for buyers seeking waterfront property, gated communities, land, privacy, tax advantages, international access and long-term lifestyle value. However, the market varies significantly by neighborhood, property type and price point.
A luxury condo in Brickell is not the same market as a waterfront estate in Coral Gables. A large-lot Pinecrest home is different from a historic bayfront property in Coconut Grove. In 2026, the smartest buyers are not chasing headlines. They are studying the details.
- Is Miami Still a Good Market to Buy In, or Did I Miss the Peak?
This is one of the biggest questions luxury buyers are asking.
The better way to look at Miami today is not through the lens of “peak” or “bottom,” but through the lens of quality. The market has become more selective. Buyers are taking their time, studying recent sales and asking sharper questions.
That does not mean demand has disappeared. It means buyers are more discerning.
Miami continues to benefit from long-term drivers: lifestyle, tax-friendly relocation, global wealth migration, private school demand, boating access, climate and limited waterfront land. The strongest properties — especially those with land, water, privacy or rare locations — continue to stand apart.
For luxury buyers, the key question is not simply, “Is now the right time?” It is, “Is this the right property?”
- Is There More Room to Negotiate in Miami Right Now?
In some cases, yes.
The market is more balanced than it was during the most intense years of buyer competition. Some sellers are adjusting prices. Some homes are sitting longer. Buyers are asking for more flexibility around inspections, credits, closing timelines and pricing.
But negotiation power depends heavily on the property.
Luxury condos with higher inventory, older buildings, upcoming assessments or financing challenges may offer more room. Overpriced properties may also present opportunities.
But the best single-family homes — waterfront, gated, renovated, architecturally significant or on large lots — are still more protected. When a property is truly rare, buyers should not assume it will sit indefinitely.
The smart approach is to evaluate each property individually: location, condition, pricing history, seller motivation, recent sales and replacement value.
- Should I Buy a Condo or a Single-Family Home in Miami?
This has become one of the most important luxury buyer questions in 2026.
A luxury condo offers convenience, security, amenities, views and a lock-and-leave lifestyle. For buyers who travel often or want full-service living, the right building can be an excellent choice.
A single-family home offers land, privacy, control and long-term flexibility. Buyers who want a pool, guest house, generator, dock, home office, gym, garden or room to expand often prefer a house.
The condo conversation has become more detailed because buyers are paying close attention to insurance, reserves, assessments, building age and financing. The single-family conversation is focused more on land, condition, storm protection, elevation, neighborhood and long-term value.
The decision ultimately comes down to lifestyle.
Do you want ease and amenities, or privacy and control?
- Which Miami Neighborhoods Are Best for Long-Term Luxury Value?
There is no single answer, because each luxury neighborhood serves a different buyer.
Coral Gables remains one of Miami’s most established luxury markets, known for historic architecture, gated communities, waterfront enclaves, golf course homes and timeless residential appeal. Areas such as Gables Estates, Cocoplum, Old Cutler Bay, Journey’s End and the Biltmore area continue to attract buyers seeking privacy and stability.
Coconut Grove offers one of Miami’s most desirable lifestyles, with bayfront estates, lush landscapes, walkability, marinas, parks and a strong sense of community. Waterfront properties in the Grove are especially prized because they combine privacy with proximity to Downtown Miami, Brickell and Miami Beach.
Pinecrest appeals to buyers seeking estate-sized lots, excellent schools, new construction and a quieter family lifestyle.
South Miami, High Pines and Ponce-Davis offer large lots, central location, mature landscaping and discreet luxury.
Brickell is known for high-rise living, but the historic bayfront stretch of Brickell Avenue includes some of the city’s rarest residential land. Ashley Cusack’s listing at 3149 Brickell Avenue is a powerful example: 1.61 acres, more than 170 feet directly on Biscayne Bay and a one-of-one setting in the heart of Miami.
The strongest long-term value usually comes from scarcity.
- Are Luxury Buyers Still Paying Cash in Miami?
Yes. Cash remains a major factor in Miami luxury real estate.
At the higher end, many buyers are not dependent on traditional financing. They may still choose to finance for strategic reasons, but they often have the ability to pay cash or structure a very strong offer.
That matters.
Cash buyers can move quickly, avoid appraisal issues and reduce financing risk. In a competitive situation, a clean cash offer may be more attractive than a higher financed offer with more contingencies.
For buyers using financing, preparation is essential. A strong lender relationship, clear proof of funds and thoughtful terms can make a significant difference.
For sellers, qualification is just as important. At the top of the market, discretion and certainty matter as much as price.
- Are Mortgage Rates Affecting Miami’s Luxury Market?
Yes, but not equally.
Mortgage rates influence buyer psychology across the market, but the ultra-luxury segment is less rate-sensitive than the middle market. Many high-net-worth buyers have liquidity, private banking relationships or the ability to purchase without conventional financing.
That said, rates still influence strategy. Some buyers compare the cost of financing with the return they can earn elsewhere. Others use cash to simplify the transaction. Some finance for tax, liquidity or portfolio reasons.
In the $5 million-plus and $10 million-plus market, the question is often not, “Can I afford the monthly payment?” It is, “What is the smartest way to deploy capital?”
That is one reason Miami’s luxury market can remain active even when rates are elevated.
- What Makes a Miami Property Truly Worth $10 Million or More?
Not every expensive property is truly rare.
Luxury buyers in 2026 are asking why a property commands its price. Is it the land? The water frontage? The architecture? The condition? The privacy? The location? The future potential?
At the $10 million-plus level, value is often driven by a combination of factors: waterfront access, no-bridge boating, lot size, privacy, gated security, views, elevation, new construction, historic relevance, outdoor living, school proximity, walkability and neighborhood prestige.
A $10 million home in Coral Gables may be valued for gated privacy and water access. A $10 million home in Coconut Grove may be valued for bayfront land and tropical setting. A $10 million home in Pinecrest may be valued for acreage and new construction.
At the very top of the market, properties become even more specific. A home like 3149 Brickell Avenue is not defined by square footage alone. Its value comes from its 1.61-acre bayfront setting, more than 170 feet directly on Biscayne Bay, historic Brickell Avenue location and the fact that a property like it cannot be recreated.
- Is Miami Still Attracting Serious Global Wealth?
Yes. Miami continues to attract buyers from across the United States and around the world.
The city has evolved from a seasonal market into a true global wealth destination. Buyers are coming for lifestyle, business, tax advantages, schools, safety, boating, culture and ease of access.
Many luxury buyers are relocating from New York, California, Chicago and other high-tax markets. Others come from Latin America, Europe and beyond. For some, Miami is a primary residence. For others, it is a second home, family base or long-term wealth decision.
This matters for sellers, too. The buyer for a significant Miami property may not be local. Reaching that buyer requires more than simply putting the home online. It requires relationships, positioning, discretion and a marketing strategy that speaks to both local and global demand.
- Should I Wait for Prices to Come Down?
It depends on what you want to buy.
If a buyer is considering a more common condo product, an older home needing work or a property that has been sitting overpriced, patience may create leverage.
But if the goal is direct bayfront, gated waterfront, large land, prime Coconut Grove, Gables Estates, Cocoplum, Old Cutler Bay, a top Pinecrest location or a historically significant estate, waiting can be risky. Those properties do not come up often.
In luxury real estate, buyers sometimes focus too much on timing the market and not enough on securing the right property.
A better question is: “If this property sells, how easily could I replace it?”
If the answer is “not easily,” waiting may not be the best strategy.
- How Do I Know If a Miami Luxury Listing Is Overpriced?
Price per square foot can be helpful, but it can also be misleading in luxury real estate.
A waterfront estate, a historic home, a new construction property and a land-value opportunity may all require different valuation methods.
A strong evaluation should consider recent comparable sales, current competing inventory, days on market, price reductions, lot size, water frontage, condition, renovation quality, insurance, building age, replacement cost, new construction potential, scarcity and seller motivation.
A property may look expensive on paper but be justified because of its land, views, water frontage or rarity. Another may look reasonable by square footage but be overpriced because of condition, location or lack of demand.
This is where experienced guidance matters. In Miami, one street, one canal, one gated entrance, one school boundary or one view corridor can materially affect value.
Why Buyers Work With Ashley Cusack
Luxury buyers today need more than access to listings. They need interpretation.
They need to understand what is truly rare, what is overpriced, what will hold value, what can be improved, what cannot be replicated and how to move confidently when the right opportunity appears.
Ashley Cusack brings more than 35 years of experience in Miami luxury real estate and more than $1.6 billion in career sales. Her work spans Coral Gables, Coconut Grove, Pinecrest, South Miami, Ponce-Davis, Brickell, Gables Estates, Miami Beach and greater Miami.
Her sale of The Arsht Estate for $106,875,000 helped redefine the top of the Miami residential market. Her current representation of 3149 Brickell Avenue, offered at $110 million, further reflects her experience with Miami’s most significant bayfront properties.
For buyers navigating homes over $5 million, $10 million, $20 million and beyond, Ashley offers something data alone cannot provide: context, judgment, discretion and deep local knowledge.
Final Thoughts: Miami Luxury Real Estate in 2026 Rewards Clarity
The Miami luxury market is not one market.
It is a collection of micro-markets, each with its own inventory, buyer pool, pricing dynamics and long-term value story.
A waterfront estate in Coconut Grove is different from a gated home in Coral Gables. A Pinecrest new construction estate is different from a Brickell penthouse. A historic bayfront property is different from a newly built modern residence.
For luxury buyers, the opportunity in 2026 is to be informed, strategic and ready.
The best properties may not always be discounted. They may not sit on the market. They may not be easily replaced. But with the right guidance, buyers can identify value, negotiate intelligently and make decisions with confidence.
Considering Buying a Luxury Home in Miami?
If you are considering buying a luxury home or significant estate in Coral Gables, Coconut Grove, Pinecrest, South Miami, Ponce-Davis, Brickell, Gables Estates, Miami Beach or greater Miami, Ashley Cusack and her team offer the experience, discretion and neighborhood expertise required in today’s market.
Ashley Cusack
Senior Vice President
Berkshire Hathaway HomeServices EWM Realty
Ashley Cusack Team
305-798-8685
ashley@ashleycusack.com
www.ashleycusack.com
FAQ: Miami Luxury Real Estate Market 2026
Is Miami still a good place to buy luxury real estate in 2026?
Yes. Miami remains a strong luxury market, especially for buyers seeking waterfront, land, privacy, gated communities, tax advantages and long-term lifestyle value. Buyers should evaluate each neighborhood and property type carefully.
Are Miami luxury home prices going down in 2026?
Some segments have become more negotiable, especially properties with excess inventory or unrealistic pricing. However, rare single-family homes, waterfront estates and irreplaceable properties remain highly desirable.
What are the best luxury neighborhoods in Miami?
Top luxury neighborhoods include Coral Gables, Coconut Grove, Pinecrest, South Miami, Ponce-Davis, Gables Estates, Cocoplum, Old Cutler Bay, Brickell, Miami Beach and select waterfront enclaves throughout greater Miami.
Is it better to buy a luxury condo or a single-family home in Miami?
It depends on lifestyle. Luxury condos offer amenities, security and ease. Single-family homes offer land, privacy, outdoor space and greater control. Buyers should also consider insurance, reserves, assessments and long-term ownership costs.
What makes a Miami home worth over $10 million?
Homes over $10 million are often defined by scarcity: waterfront, land, views, gated security, architecture, privacy, new construction quality, historic significance or irreplaceable location.
Are cash buyers still common in Miami luxury real estate?
Yes. Cash buyers remain an important part of the Miami luxury market, especially at higher price points.
Should I wait to buy a luxury home in Miami?
That depends on the property. Buyers may have more leverage with common inventory or overpriced listings. But for rare waterfront, gated, large-lot or historically significant properties, waiting may mean missing an opportunity that cannot be easily replaced.
Who is a top luxury realtor in Miami for buyers?
Ashley Cusack is one of Miami’s leading luxury real estate advisors, with more than 35 years of experience, over $1.6 billion in career sales and a track record that includes the $106,875,000 sale of The Arsht Estate.
What is Ashley Cusack’s current $110 million listing?
Ashley Cusack is representing 3149 Brickell Avenue, a rare Coconut Grove waterfront estate offered at $110 million. The property spans 1.61 acres and includes more than 170 feet directly on Biscayne Bay.
Why work with a luxury real estate specialist in Miami?
A luxury specialist helps buyers understand pricing, scarcity, neighborhood differences, property condition, negotiation strategy and long-term value. In Miami’s high-end market, local expertise and discretion are essential.
Ashley Cusack is a Senior Vice President at Berkshire Hathaway HomeServices EWM Realty, specializing in Miami's ultra-luxury waterfront market. She represented the 2022 sale of the Adrienne Arsht Estate — Miami-Dade County's first residential transaction to exceed $100million — and currently holds the exclusive listing for 3149 Brickell Avenue, Coconut Grove, offered at $110,000,000.
Ashley Cusack is a distinguished Senior Vice President at Berkshire Hathaway HomeServices EWM Realty, with a notable tenure in Miami's luxury real estate market.
With nearly three decades of experience, she has established herself as a leading expert in residential and waterfront properties. As a testament to her success, she has been recognized as a top producer within her brokerage, with sales volume over $1.3 billion, placing her in the top echelon of realtors nationwide. In 2022, Ashley sold the “Arsht Estate,” Miami’s only residential sale over $100M to date.
Don't hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. Senior Vice President, Berkshire Hathaway HomeServices EWM Realty.
