New Inventory Tagged with $5M-Plus Ultraluxury Prices
Provided by the Palm Beach real estate lawyers at Rabideau Klein
Key points
- In October Palm Beach’s 14 new single-family home listings in the luxury category all surpassed the $5 million mark.
- There were 34 new luxury condo listings last month, of which 8 surpassed the $5 million mark.
- Address 101 Jungle Road in the Estate Section changed hands for $43 million.
While inventory in Palm beach’s luxury single-family home market remained fairly tight, October’s 14 new listings signaled the onset of a busy season. Of these $1 million-plus properties, all surpassed the $5 million mark and entered the ultraluxury bracket, with the top three ranging from $78.5 million to $95 million. The top listing was just-built waterfront “compound” on the North End at 1460 N. Lake Way. Last month’s top sale was the $10.22 million purchase of a completely renovated home on the North End at 581 E. Woods Road advertised as having the “perfect blend of comfort and sophistication with spacious living areas.”
Additionally, Last month, Palm Beach real estate agents doled out a generous helping of new luxury condo listings—43 altogether. The new inventory included eight in the ultraluxury category of $5 million-plus with the top three surpassing $16 million. The priciest listing, a Warden House property for $28 million in an “Old Palm Beach” building designed by Addison Mizner. Open the November report for the full story.