The WPJ

Palm Beach

U.S. Luxury Home Prices Hit Record High in 2023, Up 9 Percent Annually

Based on new data by Redfin, the typical U.S. luxury home sold for a record $1.17 million in the fourth quarter, up 8.8% from a year earlier. Prices of non-luxury homes increased at half the pace, rising 4.6% year over year to a record $340,000.

Greater Palm Beach Area Residential Sales Dip in 2023

Based on new data by the Miami Association of Realtors, total Palm Beach County Florida residential sales decreased 3.3% annually in December 2023, from 1,830 to 1,770 transactions.

Palm Beach Area Total Residential Sales Uptick in November

November transactions came to terms in October when mortgage rates hit a peak of 7.8%, but Palm Beach buyers primarily used cash as all-cash deals accounted for 54.5% of all transactions, which is double the national figure.

Greater Palm Beach Area Home Sales Uptick 4 Percent in October

According to the Miami Association of Realtors, greater Palm Beach County total home sales in October 2023 rose year-over-year as South Florida real estate continues to outperform the nation.

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