Palm Beach County Reigns Supreme in May
Provided by the Palm Beach real estate lawyers at Rabideau Klein
Key points
- During May, the top four Florida single-family home sales and top eight listings took place in Palm Beach County.
- Last month the six most expensive Florida sales that were advertised in the MLS happened in Miami-Dade County.
- During the last three month’s Florida house sales in the ultra-luxury sector of $5 million or more, the median sale price increased 11%.
Last month, at the top of the highest-end Florida residential real estate sector, not including private sales, the three most expensive single-family properties closed in Palm Beach County (PBC) and the top eight listings that were presented in May, were also PBC properties. The largest sale of May was the $55.5 million purchase of 1140 S. Ocean Boulevard, a brand new ocean-to-intracoastal estate in Manalapan.
On the ultraluxury condo side, the top six sales happened in Miami-Dade County and 19 out of the 32 sales took place there. The Miami area sales contributed to gains in this market segment of advertised properties, where there was a 3% gain increase in both the median sales price and number homes sold during the last three months, year-over-year.