Florida Real Estate: Palm Beach Home Market Boom During the Kovid-19 Epidemic

101 Palmetto Lane in West Palm Beach sold for $ 6.1 million.  Sabra Kirkpatrick represented the seller.

A few weeks after attorney Amy Bahl and her husband sold their Palm Beach for $ 7.3 million, it returned to the market in December for $ 8.2 million.

Meanwhile, Bahls and his three children move into a house they bought on the Intracoastal Waterway in West Palm Beach, while they built a new space on a waterfront lot in North Palm Beach.

“We had been talking about it for two to three years, but this market encouraged us to go ahead and list it,” Bahl said.

So in an epidemic the Palm Beach real estate market goes 10 months.

While New York’s suburbs, Hampton and Aspen all saw sales and price increases last year, activity in Palm Beach County, Florida, from Boca Raton to Jupiter, has been at a breakneck pace. One island in particular, Palm Beach, which is home to billionaires and the Mar-a-Lago Club of President Donald Trump, has been ground zero for some of the most frenzied purchases.

‘Seller’s market’

“Anyone with money is running to New York and coming here,” said Guy Clarke, an agent at Douglas Elliman Real Estate. “It’s a seller’s market like I’ve never experienced.”

Some of the migration is associated with job relocation, as Wall Street firms and hedge funds establish bases in the Sunshine State. Others are epidemic refugees migrating from Kovid’s hotspots or taking advantage of the state income tax shortfall in Florida. And some billionaires are increasing their footprints, such as Steve Wayne buying an additional Palm Beach last month for $ 18.4 million, or Robert F. in North Palm Beach. Acquired two of Smith’s $ 48.2 million assets.

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The Palm Beach County Clerk’s Office recorded more than 20 home sales last year at $ 20 million, compared to 10 in 2019, according to the Palm Beach Daily News. Early next month, a house on North Ocean Boulevard is scheduled to go on the market for $ 75 million, completely everything from lounges to frying pans, chased by designer Sarah McCann.

Frenzied Palm Beach relates to home market. Buyers have made unseen bids

211 Seabreeze Avenue in Palm Beach recently sold for $ 3.83 million. John and Lisa Cregan represented the seller

After the 2008 financial crisis, which brought a glut of supply and sharply reduced prices, there is now little in the way of offerings to show potential buyers.

“There is no list to buy from we worry and what am I doing?” Brown Harris Stevens senior associate Lisa Pulitzer said. “We bought an interim house until they could find rent.”

Private deal

John Cregan, an agent at Sotheby’s International Realty, said a couple came to know that a house had gone into contract. Artist Camilla Webster has received several notes on her front door asking her to sell her first-floor Cambodium with outdoor space.


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