November issue: Town of Palm Beach luxury real estate highlights
Presented by the Fla real estate lawyers at Rabideau Klein
$1 Million-plus Single-Family Homes
A modest month for luxury home sales in the Town of Palm Beach, the October market bolstered revenues with pricey lot sales and listings, and a couple of big purchases that closed at nearly $30 million each. A modest 1% increase was realized in the median selling price of luxury single-family in the $1 million-plus category.
$1 Million-plus Condominiums
With high-end inventory dwindling, it was welcome news that the luxury condominium market had an influx of 21 new listings in the $1 million-plus category in a single month, the largest surge since last April, in which there were also 21 new listings. The prestigious In Town 100 Ocean Way provided the top sale with a $4.15 million transaction.
$5M Makeover for Newer Waterfront Home and New Construction Coming
The Town approved blueprints submitted by MP Design & Architecture for $5 million makeover of a 22-year-old estate on the North End. New construction surge coming: in a year-over-year comparison of review requests submitted to the Town Council revealed a 122% increase in the number of Development Review Applications.
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.