Palm Beach condos selling for higher prices: report

Condos in Palm Beach
Condos in Palm Beach

More condos in the Town of Palm Beach traded for higher prices during the first quarter of 2014, a new report shows.

The amount of condos and co-operative units sold in Palm Beach stayed flat during the first three months of the year, but the year-over-year amount the units sold for jumped from $38.7 million to $47 million, according to the latest Evans Report, as cited by the Palm Beach Daily News. Real estate attorney Leslie Evans and his son Jason prepare the quarterly report.

Sign Up for the undefined Newsletter

Year-over-year first-quarter sales between $1 million and $2 million rose from four to nine. Sales in the $500,000-to-$999,999 price range climbed from nine in 2013 to 17 in 2014. Only seven of the 65 condos or co-ops sold during the first quarter of 2014 traded for less than their previous sale price.

Single-family sales in Palm Beach were flat during the first quarter, with a year-over-year increase of one transaction to 37. But the total amount plunked down for single-family homes surged by $65 million to $214 million. [Palm Beach Daily News]Eric Kalis