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Elliman Report: Palm Beach Sales 4Q 2019

With several sales bracketing the $100 million price threshold in prior quarters, the pricing results this quarter appeared modest at best. The entry threshold for the luxury market, representing the top ten percent of all sales, was $4,900,000, up 21% from the year-ago quarter. The rise in the starting point of the luxury market was driven by the 22.4% rise in average sales square footage to 5,547 over the same period. As a result, luxury price trend indicators also moved higher. Luxury median sales price rose 23.9% to $7,314,281, and luxury average sales price jumped 28.8% to $8,034,820, respectively, from the same period…

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