South Florida Real Estate Soars Post-Election
February 25, 2025
In the weeks following Election Day, Fox News host Sean Hannity made waves in the South Florida real estate market, purchasing a $23.5 million waterfront mansion in Manalapan. Shortly after, he spent nearly $15 million on an oceanfront townhouse in Palm Beach, right next to a property he bought in 2021—bringing his total investment in the area to at least $43.7 million.
Hannity’s acquisitions place him within a short drive of former President Donald Trump’s Mar-a-Lago Club, the epicenter of the MAGA movement. The proximity aligns with his relationship with Trump, which recently earned him the first sit-down interview of Trump’s second term in January.
Election-Fueled Surge in South Florida’s Luxury Market
Hannity’s high-profile purchases are part of a broader real estate boom in South Florida following the November election. The so-called “Trump bump” has driven a surge in luxury sales, benefiting agents, developers, and homeowners.
According to appraiser Jonathan Miller, Palm Beach saw a 125% year-over-year increase in closings for homes priced at $10 million in December and January, with sales volume soaring to $310 million—a 179% jump from the previous year. Miami Beach experienced an even more dramatic spike, with a 1,100% increase in sales and a 1,235% rise in dollar volume, reaching $220 million.
Industry experts attribute the surge to a mix of factors, including heightened interest in South Florida’s luxury market, increased buyer confidence, and the global attention drawn to Palm Beach by Trump’s presidency. Some buyers are even purchasing properties specifically to be near the former president.
Palm Beach Becomes a Hotspot Once Again
Between November and December, 15 homes on Palm Beach Island went under contract, totaling $290.6 million—an astounding 400% increase in pending sales compared to the same period in 2023.
Real estate insiders anticipate that the post-election surge will be most prominent in the ultra-luxury segment. High-profile sales in early 2025 include Bruce Richards, CEO of Marathon Asset Management, purchasing a $19.5 million lot adjacent to Mar-a-Lago and an entity tied to the billionaire Cox Enterprises family acquiring a home for $30.8 million.
Beyond real estate, the post-election economic momentum has extended to retail, with some Florida businesses reporting up to a 30% year-over-year increase in January sales.
The Trump Factor and Market Confidence
Top Palm Beach agent Margit Brandt, whose husband Blair Brandt is active in GOP fundraising, noted the increased demand since Trump’s re-election. With the former president expected to spend more time at Mar-a-Lago, Palm Beach draws even more attention from high-net-worth individuals.
“You had some of the wealthiest, most successful people in the world visiting [Mar-a-Lago] and Palm Beach for the first time,” Blair Brandt said, citing a steady stream of industry titans and political figures.
Luxury homebuilder Michael Stamm echoed this sentiment, stating that Jupiter, Palm Beach Gardens, and Manalapan are also experiencing a luxury influx. “There’s a finite amount of waterfront property in the ZIP codes these buyers are targeting,” he said.
Luxury Boom Extends Beyond Palm Beach
The surge isn’t limited to Palm Beach—Miami Beach is also reaping the benefits. Developer Todd Michael Glaser and his partners recently signed a contract for a $105 million estate on North Bay Road. They plan to flip it for $150 million to $175 million or develop a $250 million spec mansion.
Across South Florida, high-end real estate activity has picked up significantly. Single-family home sales rebounded in Miami-Dade, Broward, and Palm Beach counties in December, following a brief dip in November.
Brokers report that uncertainty ahead of the election had some buyers holding back. With the results settled, confidence has returned, leading to renewed momentum in residential sales.
South Florida’s Ultra-Luxury Inventory Expands
As buyer demand surges, new high-end listings continue to hit the market:
- A spec mansion in Manalapan is asking $285 million.
- A Palm Beach oceanfront assemblage raised its price to $200 million, up from $150 million.
- A Palm Island compound in Miami Beach returned to the market for $150 million.
- Another Manalapan estate is listed for $87 million.
“The top end of the market is probably stronger than ever,” said broker Joel Lusky of The Brokerage South Florida. He and his partner Zalmy Shapiro recently closed a $25.5 million waterfront sale in Miami Beach and brokered an $11 million deal in Morningside.
With momentum building and international buyers showing increased interest, the South Florida real estate market is poised for continued growth in 2025.
