Presented by the Florida real estate lawyers at Rabideau Klein
January issue: Florida ultra-luxury real estate highlights
Year 2022: Stellar Real Estate Activity Amidst 5% Pricing Adjustment of Ultra-luxe Homes
South Florida’s Palm Beach, Miami-Dade, and Collier Counties outpaced their neighbors in the luxe category ultra-luxury home market during Year 2022 and the State of Florida realized a year-over-year adjustment of 5% in the median sales price. Big names contributing to the robust activity which generated $3.353 billion in advertised sales in Palm Beach County are hedge-fund billionaire Ken Griffin, Miami philanthropist Adrienne Arsht, real estate agents Jill Hertzberg of Coldwell Banker Realty and Ashley Cusack of BHHS EWM Realty.
8% Price Surge of Florida Ultra-luxe Condos During Final Quarter
A negative trend was upended during Q4 in Florida’s ultra-luxe condo market. After three quarters of successive declines in the average price point of condominiums closing at $5 million or more in the State of Florida, numbers from the last quarter of the year revealed a $1.3 million increase. The most remarkable month of the quarter was December during which at least six condominium homes surpassed the $10 million mark.
Florida Multimillion Dollar Market Brief
Each issue reports on the advertised Florida real estate activity for the prior month in the category of utra-luxury residential sales and listings of single-family homes and condominiums priced at $5 million or more. The information reflects all data entered by the last day of the prior month. When a sale or listing for that month is posted after the last day of the month, that information will be rolled into the following month’s report. The Florida Multimillion Dollar Market Brief reports on real estate with residential property such as single-family home, condo, co-op and townhouse types, and does not include land-only, multi-family homes, and mobile home types.
All information contained in the report is deemed to be reliable, but is not guaranteed. Neither Rabideau Klein, nor any of its employees makes any representations or warranties as to the accuracy of its contents.