May 6, 2024

Coastal Confidential | May 6, 2024

Coastal Confidential  |  May 6, 2024

Welcome to this week's installment of Coastal Confidential, where we provide a brief overview of the coastal real estate markets stretching from Boca Raton to Jupiter Island for the week ending on May 3.

Here are the highlights from last week:
- There were 71 contracts signed, showing a 13% increase from the previous week but a decrease of 11% compared to last year.
- Contract activity has been on a decline for the past four weeks across all submarkets.
- Contracts under $1 million dropped by 7% annually, while those above $1 million saw a 17% decrease.
- The standout property of the week was 200 S Ocean Boulevard, a stunning single-family home on Palm Beach Island with ocean views and private beach access, listed for an impressive $59 million. This property previously sold for $15.3 million in 2014.

Exciting news from Boca Raton: 899 Appleby Street is currently pending at $7.995 million, boasting a beautifully renovated direct Intracoastal home with 200 feet of water frontage.

Additionally, there were two contracts reported last week for properties priced above $50 million, bringing the total number of such sales in the Coastal Palm Beaches & Barrier Islands for 2024 to five.

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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.