Sustainable or Speculative? What Fisher Island Says About the Future of Miami’s Ultra-Luxury Single-Family Market

Miami’s ultra-luxury market has blown through every previous ceiling. In 2025, 29 homes traded above $30 million, and many more will sell in 2026.

Nine-figure deals became a reality, and Fisher Island emerged as ground zero for a new level of pricing, scarcity, and ambition.

But are we looking at a fundamentally new market, or one that has simply outrun itself?

Who is buying at this level, and why? How much of today’s pricing is supported by genuine scarcity in this price point, the global wealth migration, and a radically different buyer pool, and how much is expectation feeding expectation?

What are buyers demanding before they will write a $30 million, $50 million, or $100 million check? And as developers make ever bigger bets on Miami’s wealthiest buyers, what are the next trends?

Fisher Island may be the ultimate test case: an anomaly at the top of the market, or evidence that Miami luxury has entered an entirely new era.

Join David-Emmanuel Cohen, Founder & CEO of The Mansions on Fisher Island, Dora Puig, Founder and Principal Broker of Luxe Living Realty, and Cody Thamann, Founder and Principal of Thamann Architecture + Design, for a candid debate about what is actually sustaining Miami’s extraordinary run, and what could bring it back to earth.