Engel & Völkers Florida, the master franchisor for the Engel & Völkers brand in the state of Florida, today announced the release of its "2024 Mid-Year Luxury Real Estate Market Report." This report provides an in-depth analysis of the luxury residential real estate market across Florida, focusing on properties priced above $1 million and highlighting the brand’s continued specialization in this premium segment. Compiled using comprehensive data from MLS, the Florida Association of Realtors, and Engel & Völkers' internal systems, the report offers valuable insights into market trends across the state’s key Metropolitan Statistical Areas (MSAs).

“Engel & Völkers Florida plays a significant role in the success of our global luxury real estate brand,” said Peter Giese, CEO of Engel & Völkers Florida. “Our expanded footprint across the state allows us to offer direct insights into the luxury market, backed by the expertise and local knowledge of our top-performing advisors. As we navigate today’s market complexities, our focus remains on delivering unparalleled service and market expertise. Our commitment to our clients is unwavering, and we are confident in our ability to continue leading the luxury market in Florida.”

The report underscores Florida’s enduring strength as a luxury real estate destination, even as the broader market shows signs of stabilization. In the first half of 2024, Florida recorded $106.3 billion in sales volume, demonstrating resilience despite a cooling from the pandemic-fueled frenzy. Notably, while overall transaction volumes decreased by 4 percent, the luxury segment saw a 15 percent increase in closed transactions, highlighting continued demand for high-end properties.

Key Highlights from the 2024 Mid-Year Luxury Real Estate Market Report:
$106.3 billion in sales volume recorded in Florida’s residential real estate market in the first half of 2024.
15 percent growth in the number of luxury properties sold above $1 million, even as the broader market stabilized.
Increase in inventory and moderation in price appreciation, signaling a shift toward market equilibrium.
Engel & Völkers Florida outperformed local averages in key markets, including Broward, Duval, Hillsborough, Miami-Dade, Orange, Palm Beach, and Sarasota counties.

Engel & Völkers Florida’s robust performance in key markets reflects the brand’s commitment to excellence in luxury real estate. The company expects to continue outperforming the market with a 20 percent increase in sales volume for the remainder of the year as more advisors join the brand to reach new clientele. With 47 shop locations strategically placed in major metropolitan areas, beach towns, and emerging markets, and plans to open 6 additional shops in 5 markets, Engel & Völkers continues to expand its reach to meet the growing demand for luxury real estate in Florida.


As the real estate landscape evolves, Engel & Völkers Florida remains at the forefront, equipped with the expertise and market insights necessary to guide clients through these changes. The 2024 Mid-Year Luxury Real Estate Market Report serves as an essential resource for buyers, sellers, and investors, offering a comprehensive view of the current state of Florida’s luxury real estate market.

Read the full report here - https://issuu.com/evfloridapr/docs/2024_mid_year_market_report_issuu_upload?fr=sODcwODc3MDc5ODc

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Press contact:
Kaitlin Weigelt, Marketing and Brand Manager
Email: Kaitlin.Weigelt(at)evrealestate.com
Tel: (239) 348-9000

About Engel & Völkers:
Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany, in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process. Engel & Völkers currently operates approximately 300 shop locations with over 6,500 real estate advisors in the Americas, contributing to the brand’s global network of over 16,600 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate and yachting. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs, and platforms; as well as access to its global network of real estate professionals, property listings, and market data. Each brokerage is independently owned and operated. For more information, visit www.evrealestate.com.