Palm Beach home sales lagged year-over-year, according to a new market analysis.
But even as single-family sales slowed, prices grew, reflecting a competitive market, according to the Palm Beach Daily News.
“It’s a sellers’ market,” said Leslie Evans, a real estate attorney and the author of the report. “It’s supply and demand — simple as that.”
Overall, median prices fetched by single-family properties during the first half were the second highest of any year since 1991, when Evans began tracking sales — that is, if you exclude 2008.
A total of 105 single-family properties sold during the first half of the year, compared to 114 during the same period in 2013. But the median price was $2.95 million, compared to last year’s $2.53 million. [Palm Beach Daily News] – Christopher Cameron