Condo sales dwarf house sales in Palm Beach

Condo unit sales in the town rose in the January-June period to 258 from 221 last year

TRD MIAMI /
Sep.September 12, 2015 12:00 PM

Residential condominium sales in Palm Beach far exceeded single-family home sales in the first half of the year, according to the Evans Report, published by real estate attorney Leslie Evans.

The number of condo unit sales from January through June totaled 258, up from 221 in the same period last year.

Single-family home sales in the first half totaled 93, down from 107 in last year’s first half, reflecting what Evans called a “historically low inventory” of Palm Beach houses listed for sale.

The median condo sales price rose to $645,000 from $485,000 in the first six months of 2014.

Evans also reported that 75 condos sold in the  first half for $1 million or more, up from 52 last year.

Evans told the Palm Beach Daily News that “we’ve burned through all the junk. Now the condos are selling at much higher prices.”

The first half of the year was “a really great season,” broker Scott Gordon told the Palm Beach Daily News, citing the harsh winter of 2014-2015 and its motivational impact on condo shoppers in the northern United States.

“Last season, a number of renovated apartments appeared on the market, and we did a lot of transactions,” he said. “It was really the missing piece of the puzzle.” [Palm Beach Daily News] — Mike Seemuth


Related Articles

arrow_forward_ios
Lynda and Robb Turner with 8 South Lake Trail (Credit: Brent N. Clarke/Getty Images and Google Maps)

Sweet: Maple syrup magnate sells lakefront Palm Beach estate for $72M

Sweet: Maple syrup magnate sells lakefront Palm Beach estate for $72M
Kim and Todd Glaser with 127 Dunbar Road

Todd Glaser buys Palm Beach estate for $17M

Todd Glaser buys Palm Beach estate for $17M
Mark Pulte and 445 North Lake Way Palm Beach

Mark Pulte sells waterfront Palm Beach lot for $23M

Mark Pulte sells waterfront Palm Beach lot for $23M
John F. Kennedy and 1095 North Ocean Boulevard (Credit: Bachrach/Getty Images and Google Maps)

Kennedy family’s former “Winter White House” sells for $70M

Kennedy family’s former “Winter White House” sells for $70M
1632 South Ocean Boulevard, Maurice Pinsonnault (Credit: Google Maps)

Baby monitor maker sells Billionaires Row home for $14M

Baby monitor maker sells Billionaires Row home for $14M
172 South Ocean Boulevard, Palm Beach with Gary Pohrer (Credit: Google Maps)

Palm Beach oceanfront estate lists for $50M

Palm Beach oceanfront estate lists for $50M
233 Tangier Avenue, 225 Tangier Avenue and Paul Levy of JLL Partners (Google Maps)

JLL Partners founder buys two vacant lots in Palm Beach for $11M

JLL Partners founder buys two vacant lots in Palm Beach for $11M
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...