Florida Home to Hottest Luxury ZIP Codes
Areas that include Longboat Key, Boca Raton and Inlet Beach near Destin have seen luxury-market growth in the last year.
TAMPA, Fla. — Affordability and supply concerns have hindered the housing market, but the luxury sector has grown significantly and is poised for another strong year.
The Business Journals' Hottest Housing ZIP codes near Cape Coral, Miami and Sarasota and those markets continue to see positive momentum.
Longboat Key saw luxury home sales rise 222% in the last five years, and in year-over-year third-quarter comparison, home prices rose 53% after rising 52% between 2024's second and third quarters.
More than 100% growth since 2019 was recorded in ZIP codes in Boca Grande, outside Cape Coral (33921), Boca Raton (33432) and Inlet Beach, near Destin (32461). All three ZIP codes showed upward momentum within the last year.
Coldwell Banker's Global Luxury trend report indicate that luxury home buyers are looking for smart homes and "have-it-all" properties, which often translates into more sales of new builds.
Source: Tampa Bay Business Journal (01/07/25) Drilling, Joanne
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