High prices met high mortgage rates in the Miami Beaches market as demand moderated.

Even as the area experiences the same economic headwinds as much of the country, the demand is still evident.

Increases for every product type show the signs of a market beginning to normalize.

Palm Beach real estate continued to showcase its resilience and allure.

In the first quarter, the Miami Beaches market was hindered both on the supply and demand sides.

The first quarter of 2023 had Palm Beach real estate sales returning to pre-pandemic levels.

The Miami Beaches market was hindered both on the supply side, by extremely low inventory, and on the demand side by rising interest rates.

Q4 brought a significant rise in active listings — and prices — in a market recently known for its low inventory and high demand.