Dear Clients, Colleagues, Friends and Family;
We are delighted to share our 2016 Third Quarter market report (July to September, 2016) with you.
Despite the upcoming election and some uncertainty in the stock market, the Palm Beach real estate market is strong, which is proven by the sales made over the summer months… typically the slow season.
Savey Buyers are looking to Preserve their Wealth by investing cash in hard assets
…purchasing property in Palm Beach and taking advantage of the many tax benefits Florida home ownership has to offer. Buyers are fleeing high tax states, particularly from the North East, California ,and Chicago by relocating to Florida, which has no State inheritance tax.
Contact Us For Experience You Can Trust!
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Palm Beach Quarterly Market Report: (July to September 2016) Summary:
Area 1: (Inlet Drive to Wells Road) 11 homes SOLD –
Average price: $6,521,456 – Average per sq.ft. $1081
Highest priced per sq.ft. 6 Ocean Lane – $2,903
Lowest priced per sq.ft. 221 Queens Lane – $677
Area 2: (Wells Road to Worth Avenue) 6 homes SOLD –
Average price: $4,394,266 – Average per sq.ft. $954
Highest priced per sq.ft. – 159 Australian Avenue – $1,334
Lowest priced per sq.ft. – 180 Atlantic Avenue – $538
Area 3:(Worth Avenue to Sloan’s Curve) 6 homes SOLD –
Average price: $8,848,480 – Average per sq.ft. $1165
Highest priced per sq.ft. – 534 Island Dr. – $1,502
Lowest priced per sq.ft. – 161 Woodbridge – $760
CONDOS – 16 SOLD in 3rd Quarter of 2016
Area 2: (Worth Avenue to Wells Road) –
Average price: $1,086,031 – $792/sq/ft.
Highest per sq. ft. – 301 Chilean Avenue #7 – $1,228/sq.ft.
(Information provided by the Palm Beach MLS service, deemed reliable but subject to errors and omissions. Private sales from tax reports are included in the report.)
Thank you for your loyalty and continual referrals, we appreciate your business.
Ranked 26th by the Wall Street Journal in the State of Florida for Sales volume