The Coastal Palm Beaches recorded 30 signed contracts last week, down 35% from the prior week and 3% year-over-year. Even so, year-to-date contract activity remains up 23%, highlighting continued market resilience.

Luxury demand remains strongest at the top of the market, with contracts above $5 million quadrupling year-over-year, including two sales over $10 million. Hypoluxo Island, Delray Beach, and Highland Beach led the region with nine signed contracts, followed by Palm Beach with six.

The week’s highest-priced contract was 7 Ocean Lane in Palm Beach, an oceanfront new construction estate asking $88.4 million—the highest-priced Palm Beach Island contract this year.

Palm Beach’s estimated property value has now surpassed $59 billion, more than doubling from $24.7 billion in 2019—a compelling reflection of the market’s extraordinary long-term appreciation.

This week’s featured sale highlights 3070 S Ocean Boulevard, where we represented the buyer in the $15.1 million purchase of this exceptional oceanfront property. Set on 1.25 acres with 100 feet of direct ocean frontage, the property offers the potential for a future 15,000-square-foot residence following recent zoning changes.

As Palm Beach prices continue to reach record levels, more luxury buyers are expanding their search south to Manalapan, Hypoluxo Island, Ocean Ridge, Gulf Stream, and Delray Beach, where greater value and availability continue to strengthen demand across the Coastal Palm Beaches.