The Real Deal Miami

Luxury buyers back; what about listings?

October 18, 2010 12:00PM

A home for sale in Palm Beach

Brokers in Palm Beach say high-end buyers have returned. “After two
years of sitting on the sidelines, buyers have now re-calibrated their
finances and are saying, ‘I’m going to get on with my life and buy a
Palm Beach house,'” said Christian Angle of Christian Angle Real Estate.
While prices begin to rebound, though, the question remains whether
there will be inventory to match. “There’s ample inventory, but there’s
not as much inventory of really good product,” said Bill
Yahn of the Corcoran Group. “This is the first time we’re seeing prices that have deteriorated
and buyers who aren’t looking to take on projects.” [Palm
Beach Daily News]