Palm Island

If you want privacy, security, and water access close to the action, it's hard to beat — five of the seven active homes are gated and six are waterfront. You get an island setting with the restaurants and nightlife of South Pointe just across the causeway. It suits buyers who value seclusion over walkable, in-the-mix living.

Yes — this is one of the most exclusive addresses in Miami Beach, with a median list price of $22,900,000. Even the entry point is $6,999,000, and the top of the market reaches $60,000,000. Every active listing is priced above $1M by a wide margin.

Active listings run from $6,999,000 to $60,000,000, with a median of $22,900,000 and an average of about $3,370 per square foot. Homes are large, with a median size of 6,626 square feet. Over the last 12 months, 5 homes sold at a median of $22,850,000.

It's a small, slow-moving luxury market — only 7 homes are active and just 5 sold in the past year. Properties take time, with a median of 138 days on market, and sellers are averaging 89% of their asking price. That gap tells you there's real room to negotiate on the right home.

HOA data isn't reported for the current Palm Island listings, but property taxes are substantial given the price point, with a median of $108,042 per year. Budget carefully alongside your purchase — at this scale, carrying costs are a meaningful line item. If you'd rather rent first, the median here is about $14,725 per month.