The Golden Triangle of Palm Beach, Miami, NYC, the Hamptons, and the NJ Coast continues to demonstrate remarkable stability entering 2025. Buyers are selective. Sellers are disciplined. Both sides value accuracy, discretion, and quality. Inventory remains constrained in key submarkets, although certain condo segments are beginning to show early signs of oversupply.

Below is the SYKES data-backed analysis of this season’s luxury performance.

Palm Beach: Scarcity and Selectivity Shape the Market

Key Metrics
• Inventory remains roughly 22% below the five-year average.
• Median sale price for luxury single-family homes is up 7% year over year.
• Days on market increased from 31 to 36 days.

What We See
Demand remains steady and targeted. Homes on the Island remain the most competitive due to limited turnover, though West Palm Beach continues its high growth trajectory. Renovated homes with architectural integrity attract premium pricing. Buyers continue to prioritize craftsmanship and long-term value over superficial updates.

Challenges
• Rising insurance premiums influence carrying costs for multi-property owners.
• Extremely limited true waterfront inventory constrains relocation activity.

Miami: A Global Hub With New Condo Saturation Emerging

Key Metrics
• Luxury condo inventory is up 18% year over year due to intense development pipelines.
• Single-family waterfront homes show a 5% increase in average sale price.
• Days on market for high-end condos increased from 54 to 71 days.

What We See
Miami remains a magnet for global capital and lifestyle-driven relocators. Amenitized, well-managed buildings continue to outperform. Waterfront single-family homes in Coconut Grove, Bay Point, and Miami Beach remain exceptionally desirable.

Challenges
• Construction and carrying costs continue to rise.
• A growing volume of new luxury towers is widening the performance gap between newer and older buildings.

NYC: Strength at the Top While the Middle Softens

Key Metrics
• Contract activity for homes above $4 million is up 9% year over year.
• Inventory for this segment is down 11% from last winter.
• Discounts at contract signing average 4%, compared with 7% last year.

What We See
The upper tier of the NYC market continues its slow and steady resurgence. International buyers have returned with renewed confidence. Renovated, high-floor units in established buildings remain the most competitive. Tribeca, West Village, and the Upper East Side remain leaders in buyer interest.

Challenges
• Homes needing significant renovation face slower absorption due to elevated construction pricing.
• Co-op approvals continue to lengthen timelines for relocating or time-sensitive buyers.

The Hamptons: Tight Inventory With Modest Price Cooling

Key Metrics
• Active listings remain 38% below pre-pandemic norms.
• Median pricing has softened by approximately 3 to 5% depending on the hamlet.
• Days on market remains low at approximately 45 days for well-positioned properties.

What We See
The Hamptons remain anchored by long-term owners who prefer to hold rather than trade. This keeps supply extremely tight. Waterfront and south-of-the-highway homes continue to command premium values. Buyers are more discerning and place a high priority on turnkey condition.

Challenges
• Dated interiors and renovation timelines limit buyer appetite.
• High building costs constrain speculative development and larger renovation projects.

The NJ Coast: A Quiet Performer With Consistent Strength

Key Metrics
• Median sale price along the coast is up 6% year over year.
• Inventory is 19% below the five-year average.
• Luxury rental rates have increased approximately 8% year over year.

What We See
The NJ Coast is experiencing steady interest from buyers who want beachfront living with easier access to NYC or Philadelphia. Renovated coastal homes and new construction achieve the strongest results. Rental performance continues to strengthen the investment narrative.

Challenges
• Updated FEMA mapping and flood coverage considerations influence acquisition strategy.
• Limited land supply in premium pockets restricts new development.

Outlook for 2025: Disciplined, Selective, and Stable

Luxury buyers throughout the Golden Triangle are taking a measured, analytical approach. They continue to prioritize architectural integrity, privacy, and long-term utility. Despite broader economic shifts, prime properties in these markets remain among the most stable assets for multi-property owners seeking both lifestyle and portfolio durability.

The market is firm but balanced, with opportunities emerging for strategic buyers who move decisively.

SYKES continues to guide clients with discretion, extensive market knowledge, and a white glove experience that spans multiple states and asset types.