Page 7 - LTR Luxury Report

PALM BEACH COUNTY
FLORIDA’S PLAYGROUND FOR THE WEALTHY
Leaders of business and and finance from New York California and and other high-tax states covet opportunities to to relocate to to to to Palm Beach County but finding available luxury product remains a a a a a a a a a a a a a a a a a a a a a a a a a challenge Supply constraints resulted fin in in in in in in in in in in a a a a a a a a a a a a a a a a a a a a a a slight year-over-year decline fin in in in in in in in in in in total $1 million-and-up single-family sales dipping by by 2 2 2 2 2 6% to to to to 676 in in in in in in in in the the third quarter of 2022 High-end condo transactions dropped by by by 27 1% 1% to to to to to 159 in in in in in in in in the the same span The The average average price per square foot concurrently rose by by 8 8 8 8 8 1% 1% to to to to $680 for for for single-family single-family and and and 15 15 8% to to to to $880 for for for condos The The average average days on on on on on on on market continues to to to plunge for for for both $1 million-and-up single-family single-family sales and and and condo condo transactions Single Family Homes
SINGLE FAMILY HOMES
Number of Sales
Average Sales
Price
Median Sales
Price
Average Square Footage
Price
Per Square Foot Average Days on Market
Sales
Sold at Original List Price
Top Sale Price
Total Sale Volume
2021 Q3
1 072
$3 429 992
$1 900 000
4 671
$684
89
162
$80 000
000
000
000
$3 676 951 546
2022 Q2
718
$2 992
704
$1 700 000
3
3
931
$721
58
135
$53 000
000
000
000
$2 148 761 284
2022 Q3
1038
$2 992
164
$1 722 500
3
3
653
$810
42 163
$64 500
000
$3 105 865 722 2022 Q3
367
$2 356 118
$1 675 000
2 384
$975
46
78
$18 600 007
$864 695 403
% CHANGE (YEAR)
▼0 7%
▼12 2%
▲2 4%
▼15 4%
▲8 3%
▼20 2%
▼19 0%
▼54 7%
▼12 8% % CHANGE (YEAR)
▼27 1% ▼0 1% ▲6 4%
▼10 5%
▲15 8% ▼51 3%
▼13 8% ▲9 1% ▼27 1% % CHANGE (QUARTER)
▼35 2%
▼13 5%
▼4 2%
▼1 4%
▼12 4%
▲2 1% ▼39 3%
▼40 2%
▼44 0%
% CHANGE (QUARTER)
▼56 2%
▼14 9%
▲3 1% ▼2 7%
▼7 6% ▼5 6% ▼68 8% ▼19 4%
▼62 7%
Condos & Townhomes
CONDOS/TOWNHOMES
Number of Sales
Average Sales
Price
Median Sales
Price
Average Square Footage
Price
Per Square Foot Average Days on Market
Sales
Sold at Original List Price
Top Sale Price
Total Sale Volume
2021 Q3
490
$2 243 806
$1 735 000
2 744
$806
102
54 $16 500
000
$1 099 464 742
2022 Q2
341
$2 417 931
$1 765 000
2 615
$968
64
65 $21 000
000
000
000
$824 514 364
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