We published our inaugural report on the Palm Beach, Florida sales market for 4Q 2012. This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.
- Luxury market prices outpaced the overall market.
- Overall price indicators show sharp year over year gains.
- Overall sales levels trending higher.
- Days on market expanded as demand worked off older inventory.
- Negotiability between buyers and seller fell sharply.
Here’s an excerpt from the report:
CONDO/TOWNHOUSE Median sales price jumped 23.9% from the same quarter last year to $588,750. Average sales price and average price per square foot edged 5.8% and 1.3% respectively over the same period. Number of sales jumped 56.1% year-overyear to 64 sales, but remained unchanged from the prior quarter…
SINGLE FAMILY Although this market segment represents a narrow submarket of Palm Beach, the number of sales nearly doubled from prior year levels, reaching 26. All price indicators showed double-digit year-over-year gains; median sales price increased 13% to $2,775,000 over the period, while average sales price and average price per square foot showed larger gains, rising 32% and 26.1% respectively…
You can build your own custom data tables. We’ll be adding a chart library for this market area shortly.