Resi sales pick up in Palm Beach post-Trump slump

Some of the biggest sales on the island closed over the last five months

Miami /
Oct.October 16, 2017 01:00 PM

A rise in residential sales in Palm Beach have real estate agents and brokers in the area hopeful for a turnaround following a slow 2016.

MLS data shows that in 2016, the island saw a total of 96 single-family sales, according to the Palm Beach Daily News. This year, the number of single-family homes sales hit 90 by October.

Condo and co-op sales also increased from 247 sales in 2016 to 245 closings so far this year, the newspaper reported. Some agents and brokers blame the election of President Donald Trump for the slowdown.

From January to May, 14 single-family home sales sold for more than $10 million, which is double the number of closings during the same period in 2016.

The past five months have also seen some of the biggest sale prices on the island. In May, fashion designer Tommy Hilfiger paid $34 million for an oceanfront estate at 100 Casa Bendita. In April, billionaire real estate investor Frank McCourt bought an oceanfront estate at 60 Blossom Way for $77 million. [Palm Beach Daily News]Amanda Rabines


Related Articles

arrow_forward_ios
1330 South Ocean Boulevard (Compass)
Waterfront Palm Beach mansion sells for $41M
Waterfront Palm Beach mansion sells for $41M
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
Todd Glaser with aerial view of 870 South Ocean Boulevard in Palm Beach. (Google Maps, Mary Beth Koeth)
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
320 Island Road, Palm Beach (Google Maps)
Payday lender CEO buys Palm Beach house for $26M
Payday lender CEO buys Palm Beach house for $26M
W. Allan Jones & 326 Via Linda, Palm Beach (Wikimedia Commons, Google Maps)
Cash king sells waterfront Palm Beach home for $27M
Cash king sells waterfront Palm Beach home for $27M
535 North County Road (Palm Beach Property Appraiser)
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Judith Ripka Berk and Ronald Berk with 273 Tangier Avenue, Palm Beach (Getty, Google Maps, iStock)
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
President Donald Trump with Melania Trump and Mar-a-Lago (Getty)
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Florida representative wants Mar-a-Lago shut down following maskless NYE party
arrow_forward_ios

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

Loading...