[Sand and Sales] 2Q 2012 Palm Beach Report

Posted by Jonathan Miller - Tuesday, July 31, 2012, 9:18 PM

We published our inaugural report on the Palm Beach, Florida sales market for 2Q 2012.   This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.

Key Points

Palm Beach, Florida

-Condo sales were up sharply over year ago levels while single family sales slipped over the same period.
-Condo median sales price showed large increase as single family median sale price fell below year ago levels.
-Days on market fell from year ago levels for both condos, single family and luxury properties.
-North End sales edged higher as prices declined.
-South End sales were up sharply over year ago levels while median sales price edged higher.

Here’s an excerpt from the report:

CONDO/TOWNHOUSE Median sales price was $470,000, up 16% from $405,000 in the same period last year. Average sales price and average price per square foot increased 11.9% and 2.7% respectively over the same period. There were 119 sales this quarter, 22.7% more than in the prior year quarter…

SINGLE FAMILY There were 39 sales in the second quarter, 11.4% below the 44-sale total in the prior year quarter. The time to sell a property fell by more than two months over the same period. Days on market averaged 250 days, 67 days faster than 317 days in the same period last year…

You can build your own custom data tables on the market – now updated with 2Q 12 data. We’ll be adding a chart library for this market area soon!

The Elliman Report: 2Q 2012 Palm Beach [Miller Samuel]
The Elliman Report: 2Q 2012 Palm Beach [Douglas Elliman]
Aggregated Custom Market Data Tables [Miller Samuel]