Palm Beach real estate season was a gangbuster, but with challenges
The Palm Beach real estate season saw a significant increase in sales and prices, with 15 single-family homes selling for $30 million or more, compared to 8 in the same period last year. Total sales of single-family homes, condominiums, and co-op units reached $1.4 billion between October 1 and March 31.
The Palm Beach real estate season was strong, with more sales at higher prices than last season. Between October 1 and April, 15 single-family sales were recorded at $30 million or more, up from 8 in the same period last year. Seven sales were over $55 million, with the top deal at nearly $77 million. Total sales of single-family homes, condominiums, and co-op units reached $1.4 billion between October 1 and March 31, up from $1.2 billion last year. The number of Palm Beach houses sold jumped 36% in the first quarter, while condo and co-op sales rose 39%. Brokers noted that the market required persistence and patience due to limited inventory and high-end demand.
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