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Elliman Report: Palm Beach Sales 4Q 2014
Sales in the Palm Beach housing market continued to skew towards larger sized homes. The average square footage of a luxury sale was 8,846, 31.7% larger than the same period last year. Sizes in the overall condo market increased 6.6% to 1,804 square feet and the sizes in overall single family market increased 23.1% to 4,928 respectively from the prior year period. Listing inventory continued to fall across the entire market, restraining sales activity. The luxury housing market experienced a 12.8% decline in inventory to 68 listings with an entry threshold of $5,500,000.
