Palm Beach showed some of the largest price increases in the region caused mainly by the lack of inventory. The supply of homes fell steadily over the past year but the second quarter had the most sales of any spring market since 2008. Price increases in the luxury market outpaced the overall market with the addition of many larger-sized sales. Without near term relief from low inventory, we expect more of the same tight market conditions throughout the year.
Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.
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