Price alone is a lazy definition. In Miami, luxury is a combination of position, scarcity, and build quality. Waterfront that cannot be replicated, a line in a building with a protected view, a street in Coral Gables or Coconut Grove where inventory rarely trades. Those attributes hold value because they cannot be manufactured.
The market generally treats the seven figure range as the entry to the luxury conversation, but two properties at the same price can be completely different assets. One has land, water, or a floor plan that will always be in demand. The other is simply expensive.
The useful question is not whether a listing is called luxury. It is whether the specific attributes you are paying for are scarce. That analysis, comparing the property against what its own neighborhood and building have actually done, is the core of how Rangely evaluates any purchase with a client.