Strong Housing Demand Continues in Palm Beach

Prices rise as inventory remains scarce

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.

SFBW Staff
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