Puerto Rico luxury market report Q3 2026: luxury buyers closed 73 sales of $1 million or more worth $148.8 million, and the island median closing price rose 7.1% to $325,000. Here is what the Stellar MLS data means for sellers, buyers and companies relocating to Puerto Rico.
By Esteban Sarmiento, Puerto Rico Real Estate · Updated November 3, 2026 · Source: Stellar MLS | EN | ES
Quick answer: Puerto Rico’s luxury market ($1M and above) closed 73 sales worth $148.8 million in Q3 2026, essentially flat from Q3 2025 (70 sales, $148.0 million). Luxury buyers paid about 90% of list price on average, 58% paid cash, and the median home sold in 70 days. Dorado Beach set the top of the market at $1,209 per square foot, and a $25 million sale closed at Dorado Beach Estates on October 16.
Puerto Rico luxury market in Q3 2026: the big picture
The island’s overall market sold fewer homes at higher prices. Stellar MLS recorded 600 residential closings in Q3 2026 (July 1 to September 30), down 3.7% from 623 a year earlier, while the median closing price rose 7.1% to $325,000 (from $303,500). At the start of November there were 1,394 active listings and 398 pending contracts, roughly seven months of supply at the Q3 pace, which is a balanced market for well-priced homes. Taken together, these numbers show where the Puerto Rico luxury market stands today.
The luxury segment ($1 million and above) held steady. Luxury sales made up 12.2% of all closings, up from 11.2% a year ago.
Q4 2026 is Esteban Sarmiento’s estimate: 28 closings recorded through November 3 plus a projection of 45 pending contracts of $1M or more. See the Q4 2026 forecast.
Puerto Rico luxury market by price band: the $1M to $2M tier does the volume
Seven out of ten luxury closings (51 of 73) happened between $1 million and $2 million. The $3 million to $5 million tier grew from 6 to 9 closings, and 89% of those were cash. Only four homes closed above $5 million, one fewer than a year ago. Price tier matters, because the Puerto Rico luxury market behaves differently at each level.
Medians shown are Q3 2026 closing prices. Upper tiers have small samples: one sale moves the average.
Puerto Rico luxury market by area: Dorado Beach, Condado and San Juan
Each luxury micro-market behaved differently in Q3 2026. The table compares closings, volume and pricing by ZIP code and area. Location matters too: the Puerto Rico luxury market is really a set of local markets, each with its own pace.
| Market | Closings Q3 2026 (Q3 2025) | Volume | Median price | Median $/sq ft | Days on market |
|---|---|---|---|---|---|
| Dorado (ZIP 00646) | 11 (13) | $36.2M | $3.00M | $667 | 67 |
| Dorado Beach communities* | 5 (5) | $25.2M | $4.75M | $1,209 | 67 |
| Condado and Miramar (ZIP 00907) | 9 (8) | $19.0M | $1.60M | $667 | 94 |
| Old San Juan and Paseo Caribe (ZIP 00901) | 8 (6) | $15.2M | $1.46M | $881 | 127 |
| San Juan (municipality) | 30 (29) | $49.9M | $1.40M | $649 | 69 |
| Guaynabo | 15 (8) | $21.8M | $1.40M | $404 | 31 |
| Río Grande | 5 (3) | $20.9M | $3.40M | $982 | 416 |
*Closings where the MLS subdivision name contains “Dorado Beach” (for example Dorado Beach East). Days on market = median cumulative days on market. Source: Stellar MLS (Matrix), closed residential sales of $1M or more, Q3 2026 vs Q3 2025.
Dorado fell 29% in volume; Guaynabo and Río Grande grew 65% and 186%.
Dorado Beach in the Puerto Rico luxury market
Dorado closed 11 luxury sales for $36.2 million, down 15% in units and 29% in volume from Q3 2025. The gap comes mostly from the very top: in Q3 2025 the two largest Dorado closings were $10.05 million (The Estates at Dorado Beach) and $9.65 million (Dorado Beach East). In Q3 2026 the largest was $7.5 million for an 8,100 square foot Dorado Beach East home on July 13, followed by a $6.1 million, 5,046 square foot home on July 31. Median price in the Dorado Beach communities was $4.75 million at $1,209 per square foot, still the highest price per square foot of any area we track.
The top end remains alive: on October 16, a $25 million sale closed at Dorado Beach Estates. Read our guide to Dorado Beach real estate for community-by-community detail.
Condado in the Puerto Rico luxury market
Condado and neighboring Miramar (ZIP 00907) recorded 9 closings for $19.0 million, a median of $1.60 million, with 78% paid in cash. The largest was a $4.8 million, 3,093 square foot Condado condominium that closed on September 30, about $1,552 per square foot. New luxury towers in presale add future inventory, which keeps negotiating room open for buyers. More in our Condado real estate guide.
San Juan and Old San Juan in the Puerto Rico luxury market
The municipality of San Juan led the island with 30 luxury closings worth $49.9 million at a $1.40 million median. In the Old San Juan and Paseo Caribe ZIP (00901), 8 homes closed at a median $1.46 million and $881 per square foot, against $526 a year earlier, driven by a shift toward newer condominiums. These properties sat longer, a median 127 days.
Guaynabo and Río Grande in the Puerto Rico luxury market
Guaynabo almost doubled its luxury closings, from 8 to 15, at a $1.40 million median and only 31 days on the market, the fastest of any major area. Río Grande posted 5 closings worth $20.9 million, up from $7.3 million, led by two resort residences that closed on September 21: $7.49 million (Ocean Drive Beachfront Residences) and $5.475 million (Four Seasons Resort and Residences Puerto Rico).
Price per square foot changes with the size and type of the homes that sold, so it is not a price index.
How buyers negotiated in the Puerto Rico luxury market in Q3 2026
About 10% below list
Luxury homes closed at an average of 0.90 of list price. Sellers who priced to the market closed faster than those who tested the top of the range.
58% cash
Cash buyers took 58% of luxury closings, and 89% in the $3M to $5M tier, which makes mortgage rates of 7.24% (Freddie Mac, October 29, 2026) less relevant at the top.
70 days to sell
The median luxury closing took 70 days on market, from 31 days in Guaynabo to more than a year in Río Grande.
Puerto Rico luxury market inventory: how much is for sale?
Puerto Rico has 515 active listings at $1 million or more. That includes 281 above $2 million, 185 above $3 million and 93 above $5 million. At the Q3 sales pace, the $1M+ tier holds about 21 months of supply, and the $5M+ tier far more. Part of that inventory is new construction and presale product, so resale supply is lower than the headline suggests, but buyers have more options than at any point in recent years. Inventory shows how much room buyers have in the Puerto Rico luxury market.
Months of supply is an estimate, not a published statistic. Active listings as of November 3, 2026.
Notable transactions in the Puerto Rico luxury market
Closed sales from the public MLS record for the period. Addresses are omitted. Notable deals help calibrate the Puerto Rico luxury market, but they are single data points, not a trend.
| Closing date | Area | Property | Size | Price |
|---|---|---|---|---|
| Oct 16, 2026 | Dorado Beach Estates | Single-family home (Q4) | n/a | $25,000,000 |
| Jul 13, 2026 | Dorado Beach East | Single-family home | 8,100 sq ft | $7,500,000 |
| Sep 21, 2026 | Río Grande | Beachfront resort condominium | 3,920 sq ft | $7,490,000 |
| Jul 31, 2026 | Dorado Beach East | Single-family home | 5,046 sq ft | $6,100,000 |
| Sep 21, 2026 | Río Grande | Four Seasons residence | 4,424 sq ft | $5,475,000 |
| Sep 30, 2026 | Condado | Condominium | 3,093 sq ft | $4,800,000 |
| Aug 6, 2026 | Dorado Beach East | Single-family home | 3,700 sq ft | $4,750,000 |
What the Puerto Rico luxury market data means for sellers, buyers and companies
Sellers in the Puerto Rico luxury market
Price against closed sales, not asking prices. With roughly 10% negotiation and 21 months of $1M+ supply, the homes that sell in 2026 are priced to the last quarter’s closings.
Buyers in the Puerto Rico luxury market
The market gives room to negotiate, and a cash offer carries real weight. Buyers who file an Act 60 decree application by December 31, 2026 keep the earlier tax rules, so timing matters.
Companies and executives in the Puerto Rico luxury market
Puerto Rico offers a stable luxury housing market for executives and tight industrial and office markets for operations. One advisor can coordinate housing, offices and warehouses.
Methodology
Data come from Stellar MLS (Matrix): closed residential sales in Puerto Rico by close date from July 1 to September 30, 2026, compared with the same period of 2025. “Luxury” means a closing price of $1,000,000 or more. Median figures use the MLS closing price and living area. The MLS does not include every off-market or direct developer sale, and late-reported closings can change recent figures.
Move your life or your company to Puerto Rico with one boutique firm
Puerto Rico Real Estate has advised buyers, sellers and companies since 2008. We combine luxury residential, commercial and industrial expertise, so a relocation runs through a single relationship. Esteban Sarmiento and the team can help with:
- Luxury residences: Dorado Beach, Condado, San Juan, Guaynabo and Río Grande, including off-market opportunities.
- Offices and headquarters: Space for your team in the island’s main office submarkets.
- Warehouses and industrial: Warehouse and distribution space for operations, from search to lease or purchase.
- Housing for your employees: Rentals and purchases for staff, coordinated with your relocation schedule.
WhatsApp Esteban · Call 787-598-4024 · Commercial real estate in Puerto Rico
Frequently asked questions about the Puerto Rico luxury market
How is the Puerto Rico luxury real estate market doing in 2026?
Stable. In Q3 2026 the island recorded 73 luxury closings ($1M and above) worth $148.8 million, compared with 70 closings and $148.0 million in Q3 2025. Activity was lower than Q2 2026 (86 closings) and Q4 2025 (99 closings). Source: Stellar MLS.
What is the median price of a luxury home in Puerto Rico?
The median closing price among Q3 2026 sales of $1M or more was about $1.5 million. Across all residential sales in Puerto Rico, the median closing price was $325,000, up 7.1% from $303,500 a year earlier.
Is Dorado Beach still Puerto Rico’s most expensive market?
Yes by price per square foot. Dorado Beach communities had a median of $1,209 per square foot in Q3 2026, against $667 in Condado and Miramar. A $25 million sale closed at Dorado Beach Estates on October 16, 2026.
Is Puerto Rico a buyer’s or a seller’s market for luxury homes?
For homes of $1M and above, buyers have leverage: there are about 515 active listings, roughly 21 months of supply at the Q3 pace, and homes closed at an average of 90% of list price. Well-priced, move-in-ready homes still sell.
How many luxury buyers in Puerto Rico pay cash?
58% of Q3 2026 luxury closings were cash, and 89% in the $3M to $5M price band.
Where does this data come from?
Closed-sale data come from Stellar MLS (Matrix), the MLS used in Puerto Rico, for July 1 to September 30, 2026. Mortgage rates are from Freddie Mac. Island-wide sales context comes from OCIF and COSSEC data reported by El Vocero.
About the author
Esteban Sarmiento is the founder and broker of Puerto Rico Real Estate (Broker Lic. C-13046), a boutique firm operating since 2008 that combines luxury residential, commercial and relocation advisory. He brings more than a decade of transaction experience across Latin America. Office: Caribbean Tower #828, 670 Ave. Juan Ponce de León, San Juan, PR 00907 · 787-598-4024.
Sources
- Stellar MLS (Matrix): closed, active and pending residential listings in Puerto Rico, consulted November 3, 2026.
- Freddie Mac, Primary Mortgage Market Survey (30-year fixed 7.24% on October 29, 2026).
- El Vocero: Mercado inmobiliario registra caída en transacciones y aumento de precios (OCIF, COSSEC, ComparablesOnline).
- InCorp: Puerto Rico Act 60 in 2026, what Act 38-2026 changed (filing deadline of December 31, 2026).
This report is for information only. It is not an appraisal and does not constitute legal, tax or investment advice. Figures marked as estimates are projections by Puerto Rico Real Estate, not published statistics. Consult a licensed Puerto Rico attorney or CPA for Act 60 questions.
Keep reading
- Puerto Rico Real Estate Market Forecast Q4 2026
- Puerto Rico Real Estate Market Report 2027
- Living in Dorado Beach: what $3M, $5M and $10M buy you
- Condado real estate: why smart buyers and sellers are winning
- Closing costs in Puerto Rico: who pays what
- San Juan commercial real estate market report 2026
Explore more: search all listings on the map · Act 60 application guide · selling property in Puerto Rico · meet Esteban Sarmiento · all articles
