Palm Beach condos selling for higher prices: report

Town's cumulative first-quarter sale price rose from $38.7M to $47M year-over-year

Jun.June 05, 2014 09:45 AM

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.

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

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