The Real Deal Miami

Luxe market snapshot: low inventory, new permits up

Buyers seek move-in ready homes
October 20, 2014 05:15PM

A luxury home in Palm Beach

A luxury home in Palm Beach

The luxury market in Palm Beach, frozen by the recession, is scrambling back to life.

Few spec or custom homes were built on the island in recent years and even renovated homes are scarce, according to builders the Palm Beach Daily News spoke to in a look at the luxury segment. Builders are working intensely to meet the demand of buyers returning to the island, eager for homes in move-in condition.

Demolition permits and new-home permits are up considerably, especially for the North End, where older homes are being targeted for replacement. [Palm Beach Daily News] — Jennifer Karp