Brown Harris Stevens released its Q2 2022 Palm Beach Residential Market Report, which shows that buyer demand continues to be strong among historically low supply. It also reveals some eye-popping numbers. In the town of Palm Beach, there were only 47 single-family home sales in the second quarter of 2022 compared with 84 sales in Q2 2021, due to meager inventory. The average sales price rose 52% year-over-year to $19.438 million, and the average price per-square-foot increased year-over-year by 75% to $3,932 per square foot. Important to note: There were several sales that helped to push the average measures higher, including 102 Jungle Road selling for $72.8 million and 901 N. Ocean Blvd., which sold for $85.9 million.
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