Despite a seasonal dip in condo sales, Palm Beach County’s market showcases remarkable diversity and resilience. Noteworthy transactions continue to punctuate the landscape, underscoring the area’s enduring appeal.
In June, the condo market tallied $309 million in sales, a decrease from May’s $439 million. Brokers successfully closed 590 sales, though down from May’s 779, still signaling a robust interest. While the number of sales may have softened, the market remains dynamic, with a broad range of sale prices reflecting its varied appeal.
June’s median sale price stood at $277,000, slightly lower than May’s $290,000. The price per square foot saw a minor decrease to $243 from $247. This slight adjustment provides buyers with attractive entry points while maintaining strong investment potential.
A highlight of the month was the sale of Unit 501s at Palm Beach Hampton for $9 million, representing $1,802 per square foot. This property, listed by Candace and Phillip Friis with Corcoran and sold by Kourtney Pulitzer with Sotheby’s International Realty, exemplifies high-end market activity. Although it didn’t match May’s $12 million sale at 1100 South Flagler Drive, it reaffirms the presence of luxury buyers in the market.
On the opposite end, Unit H at Stratford at Hunters Run in Boynton Beach sold for $20,000, or $14 per square foot, demonstrating the accessibility of some market segments. This property, handled by Jonathan Goldman with Compass Florida, illustrates opportunities for savvy investors and first-time buyers.
June’s transactions underscore the market’s breadth, catering to a wide array of preferences and budgets. Whether buyers seek luxury waterfront residences or value-driven investments, Palm Beach County remains a compelling destination for real estate.
