June 3, 2024

Coastal Confidential | June 3, 2024

Coastal Confidential  |  June 3, 2024

Thank you for exploring this week's installment of Coastal Confidential, your exclusive source for insider insights into the South Florida real estate market, particularly along the Palm Beach County coast for the week ending May 31.

Here are the key highlights Last week, 34 contracts were signed, marking a 41% decrease from the previous week, likely attributed to Memorial Day, yet only a 3% decline from last year's figures.
Notably, there were no contracts signed over $10M last week, marking a unique occurrence since January. 

The area from Jupiter to Singer Island, including Jupiter Island, showcased a significant annual increase in signed contracts, especially in the segment under $1M.

A remarkable pending oceanfront sale was reported in Gulf Stream at 3603 N Ocean Blvd, with an astonishing price tag of $17,500,000. This property epitomizes excellence, crafted by Randall Stoft.

Last week's Sun Sentinel provided valuable insight, naming 17 "millionaire" cities across South Florida, as per Zillow estimates. Notable mentions in Palm Beach County include Golf, Gulf Stream, Jupiter Inlet Colony, Manalapan, Ocean Ridge, and Palm Beach, each boasting impressive typical home values.

The highest-priced contract last week was for 1554 N Ocean Way, a distinguished single-family home in Palm Beach's North End, featuring exclusive private beach access, listed at $8.950M.

Work with The Presson Group

Steven has consistently been a Top Producer in the luxury markets in Palm Beach County. If integrity, persistence and results are traits you believe can make the difference in your real estate transactions, contact Steven Presson.