Luxury Real Estate Continuing to Thrive in Palm Beach County

Posted by Amanda Hicks

Updated on February 27th, 2018

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Published in Market Updates

The newest year-to-year marketing report from the Florida Association of Realtors shows a double digit increase in closed sales on single-family homes $600,000+ in Palm Beach County.

When comparing year-to-year numbers in January, we see that the overall inventory in Palm Beach County is down and median sale price has gone up. This is a good incentive for those thinking of listing and also a nudge for potential buyers to hop to it.

Closed sales in January were 1,103 in 2018 and 1,146 in 2017, a 3.8% decrease.

In the luxury category however, closings on residential homes $600,000-$999,999 increased 11.8% and home sales in the $1 million+ increased a whopping 28.4%. 

Jeffery Levine, President Elect of Realtors of the Palm Beaches & Greater Fort Lauderdale, says this is a remarkable increase in the $1 million+ and to anticipate continued robust activity throughout the coming months.

Contract time is also down 15.8% to an average of 48 days, good news for both buyers and sellers. 

To view our luxury listings in the $600,000-$999,999 click here. For the $1 million+ listings, click here. 

If you're interested in selling your luxury home, contact Rob Thompson at rt@wfpcc.com.