02/12/2024
🏝️Palm Beach ranks as America’s top resi trophy market 🏆
“Palm Beach has always been a hub for the rich and powerful, but it’s been remade in the post-pandemic world. Among American trophy markets, the island’s boom is unmatched.”
“It’s trophy real estate, a tier of ultra luxury residential properties that trade for $50 million or more. The market for these eight- and nine-figure estates has exploded in the past decade. New York City, the Hamptons, Malibu, Los Angeles, Aspen and Miami have all seen a sudden and profound transformation in the value of the most coveted homes. But nowhere in the U.S. compares to Palm Beach.”
“16-mile-long island has the highest concentration of deals and listings in the U.S. with fewer than 2,500 single-family homes. Yet, six homes sold for $50 million or more last year, with Florida’s two most expensive home sales of 2023 on the island.”
Reposted from: The Real Deal.
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Source: The Real Deal