Palm Beach is a special place. The year-round warm climate, sandy beaches, and palm-tree scented air has been a draw since the 1900s and continues to be today. Award-winning dining, exquisite country clubs, and ultra-luxury shopping on world-renowned Worth Avenue allow Palm Beach to be a destination while somehow maintaining its small-town charm.
Palm Beach Island’s Core Real Estate is classified into three sections: Wells Rd and North called the North End, Worth Avenue to Wells Rd knows as In-Town, and Worth Ave south to Sloan’s Curve known as the Estate Section. Each section has its own character and appeal making where to buy a very personal decision. With that said, here is what sales data shows as the hottest section on Palm Beach right now.
The North End wins as the hottest market segment on Palm Beach right now.
Average sold prices in the North End are up 32% to $8.35 million in 2019 compared to the same period last year. Median sold prices are also up 21% to $5.4 million showing that this increase is a true market movement. The North End also had 45.5% of the sales in 2019 with In-Town and the Estate Section each having 27.3% of sales. 45% of Palm Beach’s active listings are also located in the North End. In-Town and the Estate Section have 31% and 24% of active listings respectively. All data and details are available through collaboration and membership with the Palm Beach Multiple Listing Service and the TFA Research Department.
Lush vegetation, secluded beaches, and a family-friendly environment give the quiet streets of the North End a draw that the market clearly desires. Many homes in this area truly feel like private oasis’s cut off from the outside world allowing for relaxation and decompression. With a slew of new construction, the desires of the modern-day consumer are being incorporated into the market supply. Up to date amenities, secluded charm, and quintessential Palm Beach luxury all help make the North End the hottest place to buy on Palm Beach Island right now.
John A AFR Stephenson
Tina Fanjul Associates
E-Mail: [email protected]