10% Uptick in Luxe Home Sales Price Point and $90M Listing
Provided by the Palm Beach real estate lawyers at Rabideau Klein
Key points
- The three-month average median price of luxury single-family homes in Palm Beach increased 10% by the end of May, year-over-year.
- A North End estate with a deepwater dock and boatlift at 1350 North Lake Way was sold for $90M.
- An atypical increase in Commercial Alteration permits happened in May, with several of the top ten awarded to local businesses.
This month’s report discloses numbers associated with the Town’s usual summer slowdown in Palm Beach’s luxury real estate market underscored by the fact that while 23 luxury condos priced at $1 million or more were sold and left the market, only 13 new listing were added in May. However, one of those was the $17 million listing of 221 Brazilian Avenue, West.
The stellar event of the month was the $90 million dollar listing of 1350 North Lake Way in the Eden Villa community. Open the June report for the full story.