Demand was active in Palm Beach. However, sales fell 44% annually from a record-breaking 2Q, returning to pre-pandemic levels.
Tag: South Florida
The housing market in Miami Beach remains incredibly active for interested buyers, even while supply diminishes.
Undeterred by higher mortgage rates, buyers continued to seek more space and second homes in Palm Beach and bordering communities.
All signs pointed towards a stronger and more attractive Miami Coastal Mainland market, with most trends echoing those in the Miami Beaches.
A spike in buyer demand plus the strong economic recovery, still-low mortgage rates and favorable taxes continue to drive this market.
If there’s anything to be gleaned from 2021’s record-setting market, it’s that buyers will pay any price for a piece of Palm Beach.
The Palm Beach market felt the effects of an unbridled second quarter during 3Q, with severely limited inventory and rising home prices.
The Palm Beach market experienced an extraordinary 2Q — its strongest quarter on record, in fact, with closed sales volume exceeding $1.5 billion.
The Palm Beach market remains white-hot, with the number of closed sales up 109% and closed sales volume hitting a record high, exceeding $1.2 billion.