Palm Beach Real Estate Market Update–Second Quarter Report… Stay ahead of the Curve!
Dear Potential Buyers, Sellers, Clients, Colleagues, and Friends:
For decades, in good times and uncertain times, Palm Beach real estate has been a coveted hard asset held by many for generations as a hedge against inflation. An asset that is truly enjoyed by families year after year or leased for record rental rates…There is nothing like holding Palm Beach real estate in your portfolio! Palm Beach real estate values have held throughout and during the the Great Recession of 2008, the most severe economic recession in the United States since the Great Depression of the 1930s, and those values have continued to climb for the past 14 years setting highs in 2021, as the estimated “total market value” of real estate in Palm Beach has jumped from $28B in 2020 to $40.77B, according to a recent article in the Palm Beach Daily News by Darryl Hofheinz.
Our Second Quarter Market Report shows the average sales price for single family homes sold at approximately $3,000 a sq. foot as inventory remains at a low in Palm Beach with a limited amount of homes currently for sale. According to the Palm Beach Multiple Listing Service (MLS), please find the inventory for listed properties in Palm Beach: North End: 23 single family homes, In-Town: 12 single family homes and 19 condominiums, and Estate Section: 5 single family homes. Preview all listed properties on our unrivaled website at LindaOlsson.com. Contact us for experience you can trust! The firm’s reputation and success are built upon experience, expertise, and excellent service. Choosing a firm with the commitment, confidentiality, and dedication to represent your best interests makes all the difference.
Below please find our Summary of our Palm Beach Second Quarter Market Report covering Single family homes and Condominiums from the North End to the Estate Section of Town.
Area 1: (Inlet Drive to Wells Road) 23 homes SOLD –
Average price: $20,115,653 – Average per sq.ft. $3,234
Highest priced per sq.ft. 1020 N Lake Way – $5,253
Lowest priced per sq.ft. 301 Polmer Park – $1,915
Area 2: (Wells Road to Worth Ave.) 8 homes SOLD –
Average price: $13,950,000 – Average per sq.ft. $2,801
Highest priced per sq.ft. 449 Australian Ave – $3,527
Lowest priced per sq.ft. 177 Clarke Ave – $1,644
Area 3: (Worth Avenue to Sloan’s Curve) 5 home SOLD –
Average price: $28,655,000 – Average per sq.ft. $3,119
Highest priced per sq.ft. 576 Island Drive – $3,641
Lowest priced per sq.ft. 466 S Ocean Blvd- $2,530
Area 2: CONDOS (Worth Avenue to Wells Road) 30 condos SOLD
Average price: $2,649,133 – Average per sq.ft. $1,372
Highest priced per sq.ft. 101 Worth Ave 3A – $3,632
Lowest priced per sq.ft. 44 Cocoanut Row 101A – $1,000
We are pleased to share our Second Quarter market report with you…Click here to see the full report. Are you Interested in analyzing the Palm Beach real estate market since 2008? Click here to preview past reports..
Preserve your Wealth, Relocate or Invest in Palm Beach Real Estate, as generations of families have done since Henry Flagler built the Hotel Royal Poinciana on the shores of Lake Worth in Palm Beach and extended his railroad further south to West Palm Beach in 1894. As previously reported by the Daily News, the Forbes list released April 5, 2022 includes a record number of billionaires with strong residential ties to Palm Beach. Savvy investors buy Florida real estate with confidence… Buyers from all walks of life continue to flock here from high tax states to take advantage of Florida’s many tax benefits in addition to the fabulous lifestyle and gorgeous weather! As a Florida resident, there are several tax benefits that only few other states offer… No state income tax, low sales tax, homestead benefits, no personal income tax, no inheritance tax, no gift tax, no intangible personal property tax, Florida is an ideal place to live and enjoy the tax benefits of owning real estate. Please discuss all the advantages with your tax professional and estate planner. Why Consider Florida? A Guide to Preserving Wealth published by Wilmington Trust.
Are you considering selling or purchasing a home or condominium in Palm Beach or the surrounding area? Contact Us Today… A real estate firm with a Reputation you can Trust! We are proud to be recognized again this year by the Wall Street Journal Real Trends America’s Best Real Estate Professionals, individuals by sales volume in their annual rankings of top Real Estate agents in the county…Ranking among the top 10 agents in Palm Beach, 29th in the State of Florida, and 140th in the Country. For Over 30 Years…Specializing in Palm Beach Luxury Real Estate from Pieds-‘A-Terre to Oceanfront Estates in Palm Beach. We strive to provide a seamless transaction to our Buyers and Sellers providing Superior Customer Service, Global Reach, Local Expertise, and our Unrivaled Website, LindaOlsson.com, which has been recognized as “the Best Website in Palm Beach”, featuring all listed properties for sale, quarterly market reports, customer testimonials, our team of professionals, and our fabulous blog!
Whether you are buying or selling, we are here for you 24/7. We welcome the opportunity to put our expertise to work for you!
Thank you for your time and consideration. We look forward to hearing from you.