Resi sales pick up in Palm Beach post-Trump slump

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

TRD MIAMI /
Oct.October 16, 2017 01:00 PM

Aerial of Palm Beach

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 Article

arrow_forward_ios
Robert Matthews and Palm House Hotel

Embattled Palm House developer Robert Matthews agrees to federal securities charges

Ken Griffin over the island of Palm Beach

Inside billionaire Ken Griffin’s massive Palm Beach holdings

Collage of Ken Griffin’s properties and Ken Griffin

Ken Griffin’s many many mansions: Billionaire’s latest is a $99M Palm Beach estate

Robert Matthews and the Palm House Hotel (Credit: NAIOP)

Palm House Hotel developer will use taxpayer money to pay legal bills: report

Steve Wynn and 1960 South Ocean Boulevard (Credit: Sotheby's and Getty Images)

Disgraced casino mogul Steve Wynn drops $43M on Palm Beach estate

President Donald Trump (Credit: Getty Images, Mar-A-Lago Club)

Trump properties in Palm Beach County could get $1.5M tax bill

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

arrow_forward_ios