Luxury Housing Market spikes in West Palm Beach
Luxury pending home sales rose 30% year over year in West Palm Beach, Fla. in January; the biggest increase among the 50 most populous U.S. metropolitan areas. West Palm Beach’s luxury pending sales rose nearly six times faster than non-luxury pending sales, which posted a 5.2% year-over-year increase.
West Palm Beach also saw a large uptick in luxury prices. The median sale price of luxury homes in the metro jumped 10.7% year-over-year to $4.2 million, compared with a 1.2% uptick in non luxury prices. The uptick in luxury prices was more than double the national gain; U.S. luxury home prices rose 4.4% and U.S. non-luxury prices increased 1.4%.
