Palm Beach Luxury Market Reports

Six closings for $195.2M, two of the county's three largest sales of the season at $70.9M and $62.5M, and a quarterly median of $24.5M that no other market approaches. By dollar volume it was the largest quarter in the town's five-year record.

The 2021 frenzy produced 276 luxury sales, the rate shock cut the count by a third, and sales volume in 2024 exceeded the frenzy year itself. Prices rose through every year of the cycle, and the county's largest sale in at least a year just closed in Royal Palm.

Delray closed 47 luxury sales in the quarter, up 27 percent, at a 30-day median time to contract, the fastest in the county, with prices per square foot up 29 percent and a $15M Tropic Isle closing on top. The town long known as the county's affordable beach market now sells at prices close to those of its neighbors.

Homes at $3M to $4M sold within ninety days 62 percent of the time last year. At $20M+ the figure was 43 percent, and the slowest tenth of sales at $15M to $20M waited 457 days or more. Selling speed, measured from a year of closings at every price range.

The corridor's busiest quarter on record: 44 closings for $208.1M, up 76 percent from a year earlier, with the club communities supplying 19 of them and an $11M Frenchman's Creek sale on top. Palm Beach Gardens keeps growing by adding inventory, and this quarter was the strongest in the five-year record.

Fourteen closings for $101.2M at a record $1,432 per square foot, three sales above ten million dollars, and a cluster of Harbour Isles closings in a single quarter. The village that made its name on affordable dockage recorded its strongest quarter for prices, and the one estate without dockage waited 467 days to sell.

The median seller in Delray Beach keeps 92.3 percent of the original asking price. In Palm Beach the figure is 88.4. A year of closings, mapped town by town, shows why a single standard discount fits almost none of them.

The city's biggest recorded Q2: 36 closings at a median $1,343 per foot, up 13 percent, with a $19.4M Bristol residence recording the quarter's largest sale. The corridor led the quarter outright, measured from the MLS record.

Six closings for $43M, nearly triple last year's quarter, led by a $13.8M Anchorage Point estate that sold in fifteen days while its neighbor waited a year. It was the village's strongest luxury quarter in years, and its clearest pricing lesson.

Jupiter closed 33 luxury sales in the quarter, 18 percent fewer than last year, at the highest per-square-foot median in the five-year record, with Admirals Cove closing the largest sale at $23M. Sellers held their prices, and buyers paid them.

Houses built before 1980 closed at $1,824 per square foot over the last year, the county's highest figure and nearly double the one for houses from the 1980s and 1990s. The land under them carries that price, and a year of closings shows how much of every sale is land and how much is building.

June closed 150 sales at $3M and above for $1,175.3M in volume, even with May, and recorded the county's second close above $70M in two months, a $70.9M Manalapan oceanfront estate.