Presented by the Palm Beach real estate lawyers at Rabideau Klein
January issue: Luxury real estate highlights
$1 Million-plus Single-Family Homes: 53% Gain in Year-over-year Luxury Home Average Price
In the $1 million-plus category, the average median price increased to $12 million by year’s end as compared to 7.84 million in 2021. The top Palm Beach home sale of the year was the $85.98 million closing of 901 N. Ocean Boulevard orchestrated by brokers Lawrence Moens of Lawrence A. Moens Associates and Dana Koch of The Corcoran Group.
$1 Million-plus Condos: 2022 Average Luxury Condo Price Point at $2.45M
Palm Beach’s luxury condo activity played a significant role in the Town’s real estate market during 2022 and produced fairly healthy results. Overall, in the category of $1 million-plus sales of condominium and co-op properties, sales increased its average mean price point 23%.
Palm Beach Land Use: November Palm Beach Land Use 2022 Movers and Shakers
Palm Beach Land Use: November Palm Beach Land Use 2022 Movers and Shakers
Hedrick Brothers appears to be generating the most revenue by pulling permits worth almost $20 million of large-scale projects ($100 thousand or more) during 2022. Close behind, Whitmann Building’s permits totaled $16.6 million, and The Weitz Company, $16.27 million.
Town of Palm Beach Brief
Each issue reports on both private and advertised Town of Palm Beach real estate activity for the prior month in the category of luxury residential sales and listings priced at $1 million or more. The report reviews the Town of Palm Beach’s land usage, specifically, building and development applications as presented to the Town, and the Architectural and Landmarks Commissions, and permits of large-scale building projects in the $100 thousand-plus valuation category. 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.
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.