For decades, South Florida has been known for luxurious properties and communities that attract the world’s wealthiest to build or buy a new home in world-famous cities such as Palm Beach and Miami.
According to an article in South Florida Agent Magazine and data from Homes.com and American Home Shield, four of the nation’s top ten priciest neighborhoods are located in South Florida. Two of the neighborhoods are in Naples at Port Royal and Aqualane Shores, which ranked No. 5 and 6, with homes selling for $3,375 and $3,312 per square foot, respectively. Miami’s Star, Palm and Hibiscus islands and Palm Beach’s Casa del Largo neighborhood took spots 8 and 10, with homes selling for $2,861 and $2,754 per square foot, respectively.
American Home Shield explained the methodology behind its rankings.
“We used Homes.com’s Neighborhood Search database to find the average price per square foot data for over 22,000 neighborhoods across the U.S. We could then rank the most and least expensive neighborhoods in which to buy property on a national level, a state level (excluding Montana, South Dakota, Wyoming, North Dakota and Virginia, where data was unavailable) and for major cities.”
