[Buyers Sellers Closer] 3Q 2012 Palm Beach Report

Posted by Jonathan Miller - Saturday, October 20, 2012, 2:00 PM

We published our inaugural report on the Palm Beach, Florida sales market for 3Q 2012.   This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.

Key Points

-Condo sales reached their second highest level in more than six years.
-Buyers and sellers moved closer together on price and the market appears to be absorbing more of the older listing inventory.
-Single family homes selling 2 months faster than a year ago.

Here’s an excerpt from the report:

CONDO/TOWNHOUSE The number of sales jumped 45.5% to 64 units in the third quarter, from the prior year quarter. The year-to-date number of sales is at its second highest level in more than six years. Median sales price increased 3.3% to $390,000 from the prior year quarter, while average sales price and average price per square foot increased 6.5% and 27.7% respectively…

SINGLE FAMILY Median sales price increased 5.7% to $2,600,000 from the prior year quarter. Average sales price and average price per square foot dropped 16.4% and 15.1% over the same period. Arguably a small submarket that could be characterized as stable, the number of sales fell to 23 from 25 in the prior year quarter…

You can build your own custom data tables on the market – will be updated with 3Q 12 data shortly NOW UPDATED FOR 3Q12. We’ll be adding a chart library for this market area soon!

The Elliman Report: 3Q 2012 Palm Beach [Miller Samuel]
The Elliman Report: 3Q 2012 Palm Beach [Douglas Elliman]
Aggregated Custom Market Data Tables [Miller Samuel]

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34th America's Cup Race: America's Cup Agreement Gets One Step Closer to Closing

× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Thursday, February 23, 2012, by Philip Ferrato

The Budget Committee of the BOS voted last night to move the America's Cup agreement on to the full board for a vote on Tuesday, February 28. The biggest sticking point, Pier 29, had been taken off the table earlier in the day. There's still further clarifications needed to the local hire provisions and the 1% transfer tax on future condo sales but encouragingly, the ACOC promised to pay $12M by the end of June towards their $32M commitment. The committee was mostly concerned about how much the city would lose financially over the six decades of the agreement. We watched part of the 5-hour proceedings on SFGovTV, and damn, they were dull. Everyone's so polite! Although one speaker challenged the committee to "not lose this like you did the 49ers." In a "we share your pain" moment, a speaker from the Golden Gate Conservancy reported that they still had not come an agreement with the Event Authority to use Crissy Field for spectators. Otherwise, the public comments were mostly about local hiring practices and not finance, plus the usual "how great the America's Cup is going to be" boosters going on about how sailing is not a rich man's sport. To which we'd add "but the America's Cup is."
· SF Advances Plan For America's Cup [SF Gate]
· America's Cup Coverage [Curbed Sf Archives]

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Elle Decor One Step Closer to Sharing a Lunchroom With House Beautiful: French publishing giant Lagardere and American...

× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Friday, January 7, 2011, by Sarah

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? Previous: Surprise! SoCal's "White Stallion" Lacks Authentic Italian Flavor

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