LUXURY REPORT 2 023 | Y E A R E N D
I P R E.C O M
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$554M COMMERCIAL SA L E S
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Statistics, sales and transaction volume represent all Illustrated Properties Family of Companies for the 2022 calendar year.
A message from Mike Pappas In 2023, South Florida’s luxury residential sector was not completely immune from the slowdown in activity that occurred across all pricing levels nationally. High-end sales activity and pricing ended the year down from 2022, continuing the return to normal from our region’s pandemic-era boom that virtually had no precedent. Across Miami-Dade, Broward, Palm Beach counties, the Treasure Coast and Southwest Florida, luxury single-family sales dipped 4.8% from 10,190 in 2022 to 9,704 in 2023. The region’s condo sector had a 17.6% drop in $1 million-and-up transactions, from 5,532 to 4,558. While the median high-end single-family sales price declined by 3.9% year-over-year to $1.56 million, the condo median sales price increased by 1.2% to $1.7 million in the same span.
Mike Pappas CEO Illustrated Properties
Palm Beach County outperformed its neighbors to the south, staying flat in total luxury single-family sales (3,072 in 2022 to 3,073 in 2023) and high-end condo transactions (1,034 to 1,033). The median luxury condo sales price rose 7.1% year-overyear to $1.82 million, as the county’s tight supply fueled pricing gains. Palm Beach County’s most expensive condo sale price of 2023 ($28.15 million) represented an 18.5% surge from the 2022 high. The Treasure Coast and Southwest Florida continue to emerge as desirable alternatives for some high-end buyers. The 259 luxury single-family sales in 2023 marked a 13.6% gain from 2022, while $1 million-and-up condo transactions had a 28% jump to 119. Southwest Florida had a 7.4% year-over-year climb in high-end condo sales to 1,121, with the median sales price increasing by 2.9% to $1.8 million during that span. Limited inventory and a lighter development pipeline should keep luxury sales activity somewhat in check in the early part of 2024, despite continued strong demand domestically and internationally. As the year unfolds, especially after the election cycle, we anticipate a significant uptick in transactions.
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SOUTH FLORIDA 2023 | YEAR END
LU X U R Y R E P O R T
SOUTH FLORIDA REGIONAL M I A M I D A D E | B R OWA R D | PA L M B E AC H | M A R T I N | ST. L U C I E South Florida is considered the metro area of the state extending from Palm Beach County to Miami-Dade County. The area radiates balmy temperatures and a luxury lifestyle, mixed with Latin and Caribbean cultures. The approximate 100 miles along the coast is home to roughly 5.4 million residents. If you are dreaming of a big-city getaway in Miami, a laid-back fishing trip off the coast of Fort Lauderdale, or an indulgent splurge in the Palm Beaches, you’ll find perfect weather all yearround. South Florida is home to a multitude of restaurants and entertainment options to experience including the historical Worth Avenue, Downtown City Place, Atlantic Avenue, Fort Lauderdale Beach, South Beach, and the Seminole Hard Rock Hotel & Casino.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
10190
9704
▼4.8%
Average Sales Price
$2,653,898
$2,485,095
▼6.4%
Median Sales Price
$1,625,000
$1,561,000
▼3.9%
Average Square Footage
3,484
3,357
▼3.6%
Price Per Square Foot
$737
$706
▼4.2%
Average DOM
76
96
▲26.8%
Sales Sold at Original List Price
1576
959
▼39.1%
Top Sale Price
$75,000,000
$79,000,000
▲5.3%
Total Sale Volume
$27,043,216,017
$24,115,359,567
▼10.8%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
5532
4558
▼17.6%
Average Sales Price
$2,414,038
$2,355,885
▼2.4%
Median Sales Price
$1,680,000
$1,700,000
▲1.2%
Average Square Footage
2,380
2,359
▼0.9%
Price Per Square Foot
$1,004
$988
▼1.7%
Average DOM
118
114
▼3.9%
Sales Sold at Original List Price
929
708
▼23.8%
Top Sale Price
$52,000,000
$28,154,095
▼45.9%
Total Sale Volume
$13,354,459,567
$10,738,122,589
▼19.6%
Top 5 States for Incoming Buyers N E W YO R K | N E W J E R S E Y | M AS SAC H U S E T TS | I L L I N O I S | M I C H I G A N
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PALM BEACH COUNTY 2023 | YEAR END
LU X U R Y R E P O R T
PA L M B E A C H C O U N T Y F LO R I D A’S P L AYG R O U N D F O R T H E W E A LT H Y Palm Beach County outperformed its neighbors to the south, as it remains the preferred relocation choice for wealthy individuals from New York, California and other high-tax states. The county stayed flat in total luxury single-family sales (3,072 in 2022 to 3,073 in 2023) and high-end condo transactions (1,034 to 1,033). The median luxury condo sales price rose 7.1% year-over-year to $1.82 million, as the county’s tight supply fueled pricing gains. Palm Beach County’s most expensive condo sale price of 2023 ($28.15 million) represented an 18.5% surge from the 2022 high. The Palm Beach Gardens/North Palm Beach submarket enjoyed a 20.6% year-over-year jump in $1 million-and-up single-family sales to 462, while Boynton Beach/Ocean Ridge gained an impressive 36.3% to 214 transactions in 2023. The Boca Raton/Delray Beach submarket continues to be the focal point of high-end condo activity in the county, and it had a modest 3.9% decline in total sales to 317.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
3072
3073
▲0.0%
Average Sales Price
$2,807,746
$2,601,803
▼7.3%
Median Sales Price
$1,700,000
$1,600,000
▼5.9%
Average Square Footage
3,723
3,577
▼3.9%
Price Per Square Foot
$731
$702
▼4.0%
Average DOM
49
72
▲46.8%
Sales Sold at Original List Price
478
310
▼35.1%
Top Sale Price
$64,500,000
$54,500,000
▼15.5%
Total Sale Volume
$8,625,394,850
$7,995,340,501
▼7.3%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
1034
1033
▼0.1%
Average Sales Price
$2,293,242
$2,427,083
▲5.8%
Median Sales Price
$1,699,000
$1,819,050
▲7.1%
Average Square Footage
2,446
2,358
▼3.6%
Price Per Square Foot
$953
$1,031
▲8.1%
Average DOM
55
74
▲35.5%
Sales Sold at Original List Price
188
224
▲19.1%
Top Sale Price
$23,750,000
$28,154,095
▲18.5%
Total Sale Volume
$2,371,212,418
$2,507,177,121
▲5.7%
LUXURY REPORT
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LISTED
$5,995,000
BOCA RATON & DEL RAY BEACH 2023 | YEAR END
LU X U R Y R E P O R T
B O C A R AT O N & D E L R AY B E A C H B E AC H TOW N | G O L F | E N T E R TA I N M E N T Boca Raton truly has it all. Beaches and golf courses, fine hotels and wondrous art museums, jazz clubs and concerts at Mizner Park, the glittery Town Center at Boca Raton shopping mall with 220 upscale and elite specialty shops, and, elsewhere around town, countless family-owned boutiques. Delray Beach is a first-class resort destination and a diverse, vibrant community situated on the Atlantic Ocean. A small and intimate town with big-city sophistication, Delray Beach was voted Most Fun Small Town in America by USA Today.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
1195
1210
▲1.3%
Average Sales Price
$2,306,386
$2,440,424
▲5.8%
Median Sales Price
$1,700,000
$1,700,000
▲0.0%
Average Square Footage
3,821
3,713
▼2.8%
Price Per Square Foot
$601
$634
▲5.5%
Average DOM
44
65
▲47.4%
Sales Sold at Original List Price
174
138
▼20.7%
Top Sale Price
$25,750,000
$28,000,000
▲8.7%
Total Sale Volume
$2,756,131,587
$2,952,912,992
▲7.1%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
330
317
▼3.9%
Average Sales Price
$2,084,216
$2,085,356
▲0.1%
Median Sales Price
$1,600,000
$1,600,000
▲0.0%
Average Square Footage
2,444
2,307
▼5.6%
Price Per Square Foot
$844
$888
▲5.1%
Average DOM
56
66
▲18.3%
Sales Sold at Original List Price
64
42
▼34.4%
Top Sale Price
$9,400,000
$13,035,000
▲38.7%
Total Sale Volume
$687,791,151
$661,057,882
▼3.9%
Top Residential Sale $28,000,000 372 E A L E X A N D E R PA L M R D, B O C A R ATO N, F L 334 3 2
LUXURY REPORT
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SOLD
$ 7, 7 7 5 , 7 7 5
BOYNTON BEACH & OCEAN RIDGE 2023 | YEAR END
LU X U R Y R E P O R T
B OY N TO N B E AC H & O C E A N R I D G E WAT E R S P O R T | F I S H I N G | S H O P P I N G Two county parks and a natural area make Ocean Ridge a maritime, eco-tourist haven. Ocean Inlet Park has a jetty and marina access open 24 hours, making this an excellent spot for boaters and jet skiers to dart to the ocean or Intracoastal Waterway. Boynton Beach, just north of Delray Beach and south of Palm Beach, offers visitors all varieties of seaside recreation, plus enticing shopping. The Boynton Beach Inlet provides nearly direct access to some of the most beautiful coral and artificial reefs. in the Palm Beaches. Boynton Beach’s Oceanfront Park easily earns its reputation as one of South Florida’s most attractive beaches.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
157
214
▲36.3%
Average Sales Price
$2,016,924
$1,583,196
▼21.5%
Median Sales Price
$1,300,000
$1,299,500
▼0.0%
Average Square Footage
3,282
3,110
▼5.3%
Price Per Square Foot
$680
$539
▼20.7%
Average DOM
33
51
▲56.7%
Sales Sold at Original List Price
28
32
▲14.3%
Top Sale Price
$64,500,000
$6,600,000
▼89.8%
Total Sale Volume
$316,657,045
$338,803,970
▲7.0%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
35
15
▼57.1%
Average Sales Price
$1,748,773
$1,722,200
▼1.5%
Median Sales Price
$1,506,746
$1,525,000
▲1.2%
Average Square Footage
2,587
2,244
▼13.2%
Price Per Square Foot
$686
$764
▲11.4%
Average DOM
173
58
▼66.5%
Sales Sold at Original List Price
5
4
▼20.0%
Top Sale Price
$3,400,000
$3,000,000
▼11.8%
Total Sale Volume
$61,207,051
$25,833,000
▼57.8%
Top Residential Sale $6,600,000 16 SA BA L I S L A N D D R, O C E A N R I D G E , F L 33 4 35
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LISTED
$55,000,000
JUPITER 2023 | YEAR END
LU X U R Y R E P O R T
JUPITER G O L F | H I STO R Y | B O AT I N G Locals love Jupiter for its breathtaking nature, tiki bars and endless ways to enjoy the water. Hop in a canoe and navigate the Loxahatchee River. At Riverbend Park, you’ll find many amenities, including horse trails and hiking through Seminole Indian historic sites. Right in town, the turquoise lagoons of DuBois Park and Jupiter Beach Park are ideal for swimming, paddleboarding and snorkeling. Jupiter also offers many activities to do on dry land as well!. Towering above the coast, the brickred Jupiter Inlet Lighthouse is one of the oldest and most iconic structures in The Palm Beaches. Climb all 105 feet to the top for a gull’s-eye view of the coast. Afterwards, wear your best flip-flops to Guanabana’s, Square Grouper Tiki Bar and other low-key local favorites for fresh-caught seafood, tropical drinks, and incredible views.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
386
441
▲14.2%
Average Sales Price
$2,367,118
$2,982,852
▲26.0%
Median Sales Price
$1,645,000
$1,750,000
▲6.4%
Average Square Footage
3,438
3,596
▲4.6%
Price Per Square Foot
$656
$784
▲19.6%
Average DOM
44
75
▲71.4%
Sales Sold at Original List Price
59
38
▼35.6%
Top Sale Price
$15,700,000
$54,500,000
▲247.1%
Total Sale Volume
$913,707,643
$1,315,437,912
▲44.0%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
62
71
▲14.5%
Average Sales Price
$2,027,911
$1,986,080
▼2.1%
Median Sales Price
$1,781,250
$1,818,000
▲2.1%
Average Square Footage
2,540
2,393
▼5.8%
Price Per Square Foot
$834
$874
▲4.7%
Average DOM
42
57
▲35.6%
Sales Sold at Original List Price
11
11
▲0.0%
Top Sale Price
$5,500,000
$4,074,675
▼25.9%
Total Sale Volume
$125,730,500
$141,011,675
▲12.2%
Top Residential Sale $27,489,375 19300 LOX A H ATC H E E R I V E R R D, J U P I T E R, F L 33 458
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SOLD
$21,400,000
JUPITER INLET COLONY 2023 | YEAR END
LU X U R Y R E P O R T
JUPITER INLET COLONY E XC L U S I V E | I S L A N D L I F E | YAC H T I N G The Town of Jupiter Inlet Colony is full of wildlife and beautiful gardens. The beach is accessible from all the homes by taking a short stroll across one of two brick walkways lined by many rare and beautiful flowering plants and trees. Jupiter Inlet Colony has a community park and a private Beach Club located on the Jupiter Inlet. With only eight roads and surrounded by the Intracoastal Waterway, the Atlantic Ocean and the narrow Jupiter Inlet, proximity to all things water is what makes this tiny, residential community, the place for boating, water sports and sport fishing activities.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
6
10
▲66.7%
Average Sales Price
$8,786,500
$7,364,000
▼16.2%
Median Sales Price
$8,300,000
$4,747,500
▼42.8%
Average Square Footage
4,387
3,638
▼17.1%
Price Per Square Foot
$1,902
$1,870
▼1.7%
Average DOM
75
112
▲49.7%
Sales Sold at Original List Price
2
1
▼50.0%
Top Sale Price
$15,000,000
$21,400,000
▲42.7%
Total Sale Volume
$52,719,000
$73,640,000
▲39.7%
2023
% CHANGE (1 YEAR)
Number of Sales
1
-
Average Sales Price
$4,500,000
-
Median Sales Price
$4,500,000
-
Average Square Footage
3,800
-
Price Per Square Foot
$1,184
-
Average DOM
100
-
Sales Sold at Original List Price
0
-
Top Sale Price
$4,500,000
-
Total Sale Volume
$4,500,000
-
Condos & Townhomes CONDOS/TOWNHOMES
2022
Top Residential Sale $21,400,000 102 L I G H T H O U S E D R, J U P I T E R I N L E T C O LO N Y, F L 33 4 69
LUXURY REPORT
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SOLD
$19,000,000
MANALAPAN, LANTANA, & HYPOLUXO 2023 | YEAR END
LU X U R Y R E P O R T
M A N A L A P A N , L A N TA N A , & H Y P O L U X O O C E A N V I E W | R E S O R TS | WAT E R F R O N T L I V I N G The town of Manalapan, Florida, resides along the Intracoastal Waterway and is comprised of two separate areas linked only by water. So if it has to do with water, this is the place to be. If you like to dive, the dive wreck of Lofthus is situated approximately 175 yards off the shore of Manalapan in the Florida Underwater Archaeological Preserve. Staying waterside is easy in this small community. Eau Palm Beach Resort & Spa is a breathtaking oceanfront property with three outstanding restaurants and a spa providing a tranquil and serene environment for all pampering services.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
30
29
▼3.3%
Average Sales Price
$4,396,374
$6,504,984
▲48.0%
Median Sales Price
$2,975,000
$2,350,000
▼21.0%
Average Square Footage
3,881
3,810
▼1.8%
Price Per Square Foot
$1,102
$1,409
▲27.8%
Average DOM
84
108
▲28.2%
Sales Sold at Original List Price
4
0
▼100.0%
Top Sale Price
$26,775,000
$48,373,037
▲80.7%
Total Sale Volume
$131,891,230
$188,644,527
▲43.0%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
30
9
▼70.0%
Average Sales Price
$1,855,433
$2,032,778
▲9.6%
Median Sales Price
$1,737,500
$1,400,000
▼19.4%
Average Square Footage
2,272
2,262
▼0.4%
Price Per Square Foot
$864
$853
▼1.3%
Average DOM
92
44
▼52.2%
Sales Sold at Original List Price
6
2
▼66.7%
Top Sale Price
$4,185,000
$4,300,000
▲2.7%
Total Sale Volume
$55,662,999
$18,295,000
▼67.1%
Top Residential Sale $48,373,037 1400 S O C E A N B LV D, L A N TA N A, F L 33 4 6 2
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LISTED
$10,900,000
PALM BEACH GARDENS & NORTH PALM BEACH 2023 | YEAR END
LU X U R Y R E P O R T
PA L M B E A C H G A R D E N S & N O R T H PA L M B E A C H GOLF | SHOPPING | FISHING Palm Beach Gardens is home to the headquarters of the Professional Golfers’ Association of America (PGA) and each year hosts legendary professional golfers at The Honda Classic. Palm Beach Gardens also offers fine hotels, a wide variety of recreational enticements and convenient proximity to the beaches. Known worldwide for its recreation, North Palm Beach boasts The Palm Beaches’ only state park. John D. MacArthur Beach State Park is an eco-friendly and family-friendly treasure. Enjoy crystal clear waters and an adventurous lifestyle.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
383
462
▲20.6%
Average Sales Price
$2,545,927
$2,210,422
▼13.2%
Median Sales Price
$1,750,000
$1,523,500
▼12.9%
Average Square Footage
3,875
3,644
▼6.0%
Price Per Square Foot
$605
$577
▼4.6%
Average DOM
45
67
▲47.5%
Sales Sold at Original List Price
81
48
▼40.7%
Top Sale Price
$22,500,000
$25,500,000
▲13.3%
Total Sale Volume
$975,089,857
$1,021,215,144
▲4.7%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
52
51
▼1.9%
Average Sales Price
$2,199,465
$1,967,935
▼10.5%
Median Sales Price
$1,975,000
$1,600,000
▼19.0%
Average Square Footage
2,990
2,853
▼4.6%
Price Per Square Foot
$770
$688
▼10.6%
Average DOM
29
91
▲210.0%
Sales Sold at Original List Price
14
4
▼71.4%
Top Sale Price
$6,900,000
$5,225,000
▼24.3%
Total Sale Volume
$114,372,165
$100,364,692
▼12.2%
Top Residential Sale $25,500,000 1154 2 T U R T L E B E AC H R D, N O R T H PA L M B E AC H, F L 33 4 08
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SOLD
$16,300,000
PALM BEACH 2023 | YEAR END
LU X U R Y R E P O R T
PA L M B E A C H G L A M O U R | S EC L U S I O N | O C E A N F R O N T Movie stars, aristocrats and barons of industry have frolicked on Palm Beach’s golden sands since America’s First Resort Destination® rose to favor in the late 1800s. But you don’t need to be a Rockefeller to have your own “once upon a time” moment here. All those in Palm Beach will find a warm welcome, a tropical breeze and plenty of ways to live a modern-day fairy tale. Home to Florida’s oldest golf course, The Breakers was the premier playground of the Gilded Age and still dazzles today. Palm Beach practically invented retail therapy. See and be seen on iconic Worth Avenue, a shopping mecca that often gets mentioned in the same breath as Fifth Avenue and Rodeo Drive.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
72
44
▼38.9%
Average Sales Price
$15,452,440
$11,370,685
▼26.4%
Median Sales Price
$11,728,620
$9,118,715
▼22.3%
Average Square Footage
4,450
3,586
▼19.4%
Price Per Square Foot
$3,441
$3,003
▼12.8%
Average DOM
76
136
▲80.2%
Sales Sold at Original List Price
4
0
▼100.0%
Top Sale Price
$53,000,000
$50,000,000
▼5.7%
Total Sale Volume
$1,112,575,694
$500,310,137
▼55.0%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
115
84
▼27.0%
Average Sales Price
$3,902,767
$3,801,482
▼2.6%
Median Sales Price
$2,895,000
$2,500,000
▼13.6%
Average Square Footage
2,053
2,080
▲1.3%
Price Per Square Foot
$1,800
$1,767
▼1.9%
Average Days on Market
48
94
▲96.8%
Sales Sold at Original List Price
18
5
▼72.2%
Top Sale Price
$23,750,000
$18,900,000
▼20.4%
Total Sale Volume
$448,818,251
$319,324,486
▼28.9%
Top Residential Sale $68,145,600 149 E I N L E T D R, PA L M B E AC H, F L 334 80
LUXURY REPORT
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SOLD
$5,000,000
SINGER ISLAND 2023 | YEAR END
LU X U R Y R E P O R T
SINGER ISLAND B O U T I Q U E | D I N I N G | N AT U R E Singer Island, an oceanfront neighborhood part of the city of Riviera Beach, offers a relaxing blend of natural beauty, seven miles of pristine beaches, and upscale hotels and resorts. Nestled on the barrier island, the park also sits in the urban estuary of Lake Worth Lagoon and the Intracoastal Waterway, where you can kayak, canoe, hike short trails, and visit the a nature center. Also available to visitors are superb hotels and meeting facilities on Singer Island with a wide range of shopping opportunities and some of the finest restaurants in all of Florida.
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
23
23
▲0.0%
Average Sales Price
$2,670,130
$2,258,118
▼15.4%
Median Sales Price
$2,200,000
$1,850,000
▼15.9%
Average Square Footage
2,880
2,938
▲2.0%
Price Per Square Foot
$888
$768
▼13.5%
Average DOM
34
59
▲75.3%
Sales Sold at Original List Price
6
5
▼16.7%
Top Sale Price
$7,900,000
$7,325,000
▼7.3%
Total Sale Volume
$61,413,000
$51,936,712
▼15.4%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
85
115
▲35.3%
Average Sales Price
$2,024,651
$2,006,281
▼0.9%
Median Sales Price
$1,475,000
$1,728,000
▲17.2%
Average Square Footage
2,531
2,403
▼5.1%
Price Per Square Foot
$778
$823
▲5.8%
Average Days on Market
55
77
▲40.0%
Sales Sold at Original List Price
15
39
▲160.0%
Top Sale Price
$7,100,000
$4,725,000
▼33.5%
Total Sale Volume
$172,095,299
$230,722,275
▲34.1%
Top Residential Sale $7,325,000 1030 C O R A L WAY, R I V I E R A B E AC H, F L 33 4 0 4
LUXURY REPORT
IPRE.COM
LISTED
$10,999,998
TEQUESTA 2023 | YEAR END
LU X U R Y R E P O R T
T E Q U E S TA B O U T I Q U E | D I N I N G | N AT U R E The Village of Tequesta is a gem located along U.S. 1 west of Jupiter Inlet Colony. It is a close-knit community and the seventh-safest city in all of Florida. Despite only covering 2.3 square miles, the village has numerous parks and community gathering places. Its Coral Cove Park is a popular destination, with ocean views, swimming, snorkeling, stunning natural limestone and reefs that are home to a variety of marine wildlife.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
77
59
▼23.4%
Average Sales Price
$2,911,019
$2,495,948
▼14.3%
Median Sales Price
$1,700,000
$1,690,000
▼0.6%
Average Square Footage
3,276
3,309
▲1.0%
Price Per Square Foot
$867
$699
▼19.4%
Average DOM
38
73
▲90.3%
Sales Sold at Original List Price
9
3
▼66.7%
Top Sale Price
$13,450,000
$11,600,000
▼13.8%
Total Sale Volume
$224,148,439
$147,260,915
▼34.3%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
31
16
▼48.4%
Average Sales Price
$1,978,101
$4,018,594
▲103.2%
Median Sales Price
$2,055,000
$2,625,000
▲27.7%
Average Square Footage
2,095
2,777
▲32.5%
Price Per Square Foot
$981
$1,331
▲35.7%
Average Days on Market
55
104
▲87.8%
Sales Sold at Original List Price
6
1
▼83.3%
Top Sale Price
$2,800,000
$12,500,000
▲346.4%
Total Sale Volume
$61,321,125
$64,297,500
▲4.9%
Top Residential Sale $12,500,000 1500 B E AC H R D #403, J U P I T E R, F L 33 4 69
LUXURY REPORT
IPRE.COM
SOLD
$4,950,000
WELLINGTON 2023 | YEAR END
LU X U R Y R E P O R T
WELLINGTON EQ U E ST R I A N | N AT U R E | P O LO Palm Beach gives way to greener pastures for horse lovers in Wellington. Home to an internationally recognized equestrian community (with a social scene to match), this city offers endless opportunities to play by day and ride off into the sunset at night. Each January through April, Wellington’s equestrian season leaps into action. The Winter Equestrian Festival welcomes the world’s top riders in show jumping and dressage for 12 weeks of competition. During Palm Beach International Polo Season, you can’t swing a mallet without hitting a daily event or field-side brunch.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
236
165
▼30.1%
Average Sales Price
$2,616,969
$2,688,636
▲2.7%
Median Sales Price
$1,582,500
$1,500,000
▼5.2%
Average Square Footage
3,963
3,981
▲0.4%
Price Per Square Foot
$736
$712
▼3.3%
Average DOM
86
94
▲8.9%
Sales Sold at Original List Price
38
16
▼57.9%
Top Sale Price
$15,500,000
$21,850,000
▲41.0%
Total Sale Volume
$617,604,643
$443,624,959
▼28.2%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
26
33
▲26.9%
Average Sales Price
$1,389,885
$1,368,667
▼1.5%
Median Sales Price
$1,280,000
$1,250,000
▼2.3%
Average Square Footage
2,764
2,102
▼23.9%
Price Per Square Foot
$609
$687
▲12.7%
Average DOM
49
46
▼6.4%
Sales Sold at Original List Price
5
9
▲80.0%
Top Sale Price
$2,250,000
$2,095,000
▼6.9%
Total Sale Volume
$36,137,000
$45,166,000
▲25.0%
Top Residential Sale $21,850,000 13893 G R AC I D A ST, W E L L I N GTO N, F L 33414
LUXURY REPORT
IPRE.COM
SOLD
$8,048,000
WEST PALM BEACH 2023 | YEAR END
LU X U R Y R E P O R T
W E S T PA L M B E A C H D I N I N G | C U LT U R E | H I STO R Y Located along Florida’s Atlantic Ocean coast, West Palm Beach offers visitors year-round excitement within easy reach of smooth-sand beaches and some of the nation’s most enticing waterways. Exquisite shops, fine dining, Broadway-quality shows, a world-renowned art museum and more - this is what awaits the fortunate visitor to West Palm Beach. Downtown West Palm Beach is home to four retail and entertainment districts: Clematis Street, Rosemary Square, Northwood Village, and Antique Row. These vibrant pieces of West Palm Beach are lined with fashionable bars, nightclubs, boutiques and collectibles.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
317
242
▼23.7%
Average Sales Price
$2,392,640
$2,293,685
▼4.1%
Median Sales Price
$1,750,000
$1,699,500
▼2.9%
Average Square Footage
3,328
3,194
▼4.1%
Price Per Square Foot
$756
$739
▼2.2%
Average DOM
47
93
▲96.7%
Sales Sold at Original List Price
43
9
▼79.1%
Top Sale Price
$16,000,000
$12,500,000
▼21.9%
Total Sale Volume
$758,466,732
$555,071,867
▼26.8%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
97
179
▲84.5%
Average Sales Price
$2,555,689
$3,289,022
▲28.7%
Median Sales Price
$1,375,000
$2,506,000
▲82.3%
Average Square Footage
2,256
2,404
▲6.6%
Price Per Square Foot
$1,102
$1,384
▲25.6%
Average DOM
41
82
▲100.6%
Sales Sold at Original List Price
20
95
▲375.0%
Top Sale Price
$21,000,000
$28,154,095
▲34.1%
Total Sale Volume
$247,901,861
$588,734,958
▲137.5%
Top Residential Sale $21,000,000 1100 S F L AG L E R D R U N I T 1901, W E ST PA L M B E AC H, F L 33 4 01
LUXURY REPORT
IPRE.COM
SOLD
$4,900,000
TREASURE COAST 2023 | YEAR END
LU X U R Y R E P O R T
TREASURE COAST S E R E N I T Y I N PA R A D I S E The Treasure Coast experienced year-over-year gains in both luxury single-family and condominium sales in 2023, with a 13.6% increase to 259 in the former and 28% jump to 119. The region’s single-family and condo sectors had opposite pricing trends, however. Its median high-end single-family sales price dropped by 11.9% year-over-year to 259, while the median luxury condo sales price rose 4.5% to $1.5 million. Stuart enjoyed a 25% year-over-year uptick in $1 million-and-up single-family sales to 130, and a 43.1% surge in condo transactions to 93. Port Saint Lucie recorded a 35.3% year-over-year jump in luxury single-family sales to 46 in 2023.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
228
259
▲13.6%
Average Sales Price
$2,822,288
$2,614,425
▼7.4%
Median Sales Price
$1,715,000
$1,511,250
▼11.9%
Average Square Footage
4,047
3,635
▼10.2%
Price Per Square Foot
$658
$672
▲2.1%
Average Days on Market
75
92
▲21.7%
Sales Sold at Original List Price
40
31
▼22.5%
Top Sale Price
$35,500,000
$22,000,000
▼38.0%
Total Sale Volume
$643,481,579
$677,136,168
▲5.2%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
93
119
▲28.0%
Average Sales Price
$1,976,221
$2,195,268
▲11.1%
Median Sales Price
$1,435,000
$1,500,000
▲4.5%
Average Square Footage
3,541
3,170
▼10.5%
Price Per Square Foot
$572
$688
▲20.3%
Average Days on Market
71
136
▲91.3%
Sales Sold at Original List Price
11
16
▲45.5%
Top Sale Price
$9,000,000
$11,750,000
▲30.6%
Total Sale Volume
$183,788,509
$261,236,891
▲42.1%
LUXURY REPORT
IPRE.COM
SOLD
$14,000,000
HOBE SOUND 2023 | YEAR END
LU X U R Y R E P O R T
HOBE SOUND N AT U R E | R E L A X E D | B E AC H TOW N Nestled between Jupiter and Stuart along the Atlantic coast, Hobe Sound features picturesque nature attractions, beaches and parks. Jonathan Dickinson State Park is a big hit with camping and canoeing enthusiasts, while Blowing Rocks Preserve is a snorkeling haven with limestone formations that are the largest on the east coast. Hobe Sound’s beach town appeal is enhanced by its mix of antique stores, art galleries and beachfront eateries.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
9
12
▲33.3%
Average Sales Price
$2,463,180
$1,777,917
▼27.8%
Median Sales Price
$2,250,000
$1,365,000
▼39.3%
Average Square Footage
4,423
3,566
▼19.4%
Price Per Square Foot
$555
$488
▼12.1%
Average Days on Market
31
27
▼13.4%
Sales Sold at Original List Price
3
3
▲0.0%
Top Sale Price
$3,458,619
$3,705,000
▲7.1%
Total Sale Volume
$22,168,619
$21,335,000
▼3.8%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
4
4
▲0.0%
Average Sales Price
$1,243,750
$1,226,250
▼1.4%
Median Sales Price
$1,250,000
$1,225,000
▼2.0%
Average Square Footage
2,372
2,907
▲22.6%
Price Per Square Foot
$528
$426
▼19.4%
Average Days on Market
9
47
▲402.7%
Sales Sold at Original List Price
0
1
-
Top Sale Price
$1,400,000
$1,355,000
▼3.2%
Total Sale Volume
$4,975,000
$4,905,000
▼1.4%
Top Residential Sale $3,705,000 8069 S E G O L F H O U S E D R, H O B E S O U N D, F L 33 455
LUXURY REPORT
IPRE.COM
SOLD
$15,000,000
HUTCHINSON ISLAND 2023 | YEAR END
LU X U R Y R E P O R T
HUTCHINSON ISLAND O C E A N F R O N T | S EC L U S I O N | D I N I N G Located off the coast of Martin and St. Lucie counties, Hutchinson Island is a barrier island bordered by the Atlantic Ocean on the east and the Indian River on the west. Hutchinson Island is home to the Elliot Museum, the historic House of Refuge, and the Florida Oceanographic Society. Here you will find miles of beautiful, sandy beaches to enjoy, with free public access on this down-toearth island that offers cultural events and activities for the whole family. Hotels, vacation rentals, fine restaurants – Hutchinson Island has it all. The island also is a great place to enjoy Florida wildlife at its finest. A true jewel, Hutchinson Island is a wonderful place to fish, play golf or just stare at the enchanting Atlantic.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
23
22
▼4.3%
Average Sales Price
$2,477,391
$1,775,864
▼28.3%
Median Sales Price
$1,375,000
$1,275,000
▼7.3%
Average Square Footage
3,305
3,030
▼8.3%
Price Per Square Foot
$685
$573
▼16.4%
Average Days on Market
41
100
▲142.1%
Sales Sold at Original List Price
6
3
▼50.0%
Top Sale Price
$6,000,000
$5,000,000
▼16.7%
Total Sale Volume
$56,980,000
$39,069,000
▼31.4%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
8
9
▲12.5%
Average Sales Price
$1,178,125
$1,095,000
▼7.1%
Median Sales Price
$1,250,000
$1,090,000
▼12.8%
Average Square Footage
2,604
2,479
▼4.8%
Price Per Square Foot
$451
$445
▼1.4%
Average Days on Market
37
70
▲87.0%
Sales Sold at Original List Price
1
2
▲100.0%
Top Sale Price
$1,400,000
$1,300,000
▼7.1%
Total Sale Volume
$9,425,000
$9,855,000
▲4.6%
Top Residential Sale $5,115,000 17 72 N E O C E A N B LV D, ST UA R T, F L 34 9 9 6
LUXURY REPORT
IPRE.COM
LISTED
$49,500,000
JUPITER ISLAND 2023 | YEAR END
LU X U R Y R E P O R T
JUPITER ISLAND WAT E R V I E WS | H I STO R Y | B O AT I N G The Town of Jupiter Island is a coveted place to call home, a tropical paradise with gorgeous banyan tree canopies, beaches and many outdoor activities. The 17-mile long island is flanked by the Atlantic Ocean and Intracoastal Waterway, in close proximity to some of the Treasure Coast’s top recreational, cultural and sporting facilities. It is also a convenient drive away from the Palm Beach International Airport and Stuart Jet Center. Much of Jupiter Island’s acreage has been protected as nature and wildlife preserves.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
17
14
▼17.6%
Average Sales Price
$11,073,175
$11,171,836
▲0.9%
Median Sales Price
$6,200,000
$10,241,050
▲65.2%
Average Square Footage
5,061
4,877
▼3.6%
Price Per Square Foot
$2,001
$2,224
▲11.1%
Average Days on Market
83
132
▲58.2%
Sales Sold at Original List Price
7
2
▼71.4%
Top Sale Price
$35,500,000
$22,000,000
▼38.0%
Total Sale Volume
$188,243,975
$156,405,700
▼16.9%
2023
% CHANGE (1 YEAR)
Condos & Townhomes CONDOS/TOWNHOMES
2022
Number of Sales
-
Average Sales Price
-
Median Sales Price
-
Average Square Footage
-
Price Per Square Foot
-
Average Days on Market
-
Sales Sold at Original List Price
-
Top Sale Price
-
Total Sale Volume
-
Top Residential Sale $22,000,000 491 S B E AC H R D, H O B E S O U N D, F L 33 455
LUXURY REPORT
IPRE.COM
SOLD
$ 1 1 ,7 5 0,0 0 0
SEWALLS POINT 2023 | YEAR END
LU X U R Y R E P O R T
S E WA L L S P O I N T S M A L L TOW N | I N T R AC O ASTA L | N AT U R E Sewall’s Point is a charming peninsula town located on the eastern side of Martin County, Florida. Once a vacation town, it now is home to many younger families and full-time residents. Surrounded by water on its north, south and west, this unique community is famous for its waterfront homes and is often called a boaters’ paradise. Shaded by ancient oaks and surrounded on three sides by the St. Lucie River and the Indian River Lagoon, Sewall’s Point is known for its natural beauty. The town is a designated bird sanctuary and has been a nationally recognized “Tree City” for over two decades. Many unique shops and outstanding dining can be found in beautiful Sewall’s Point.
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
41
35
▼14.6%
Average Sales Price
$2,440,195
$2,632,094
▲7.9%
Median Sales Price
$1,850,000
$2,253,000
▲21.8%
Average Square Footage
4,467
3,868
▼13.4%
Price Per Square Foot
$562
$656
▲16.7%
Average Days on Market
118
104
▼12.3%
Sales Sold at Original List Price
9
1
▼88.9%
Top Sale Price
$6,350,000
$11,750,000
▲85.0%
Total Sale Volume
$100,048,000
$92,123,300
▼7.9%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
12
10
▼16.7%
Average Sales Price
$2,097,333
$3,507,500
▲67.2%
Median Sales Price
$1,667,500
$2,375,000
▲42.4%
Average Square Footage
3,942
4,816
▲22.2%
Price Per Square Foot
$528
$696
▲32.0%
Average Days on Market
44
62
▲43.4%
Sales Sold at Original List Price
3
0
▼100.0%
Top Sale Price
$6,350,000
$11,750,000
▲85.0%
Total Sale Volume
$25,168,000
$35,075,000
▲39.4%
Top Residential Sale $11,750,000 27 N E LO F T I N G WAY, ST UA R T, F L 34 9 9 6
LUXURY REPORT
IPRE.COM
SOLD
$6,940,000
STUART 2023 | YEAR END
LU X U R Y R E P O R T
STUART R E L A X E D | B E AC H TOW N | H I STO R I C Stuart, the hub of Martin County, also known as the “Sailfish Capital of the World” because of the many sailfish found off the coast, is located along the banks of the St. Lucie River. Stuart is located on the eastern point of the Okeechobee Waterway, which extends from the Atlantic Ocean in Stuart to the Gulf of Mexico in Ft. Myers. Adventurers wanting to get back to nature will find an array of outdoor options in the area, including kayaking, hiking, biking and birding options. Finally, take a romantic stroll along Stuart’s Riverwalk and enjoy the scenery or gaze upon the Roosevelt Bridge, voted one of the most “Spectacular Bridges Around the World.”
Single Family Homes SINGLE FAMILY HOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
104
130
▲25.0%
Average Sales Price
$2,148,748
$2,338,270
▲8.8%
Median Sales Price
$1,650,000
$1,577,500
▼4.4%
Average Square Footage
3,695
3,470
▼6.1%
Price Per Square Foot
$576
$647
▲12.3%
Average Days on Market
72
91
▲25.5%
Sales Sold at Original List Price
9
17
▲88.9%
Top Sale Price
$9,000,000
$11,175,000
▲24.2%
Total Sale Volume
$223,469,809
$303,975,090
▲36.0%
Condos & Townhomes CONDOS/TOWNHOMES
2022
2023
% CHANGE (1 YEAR)
Number of Sales
65
93
▲43.1%
Average Sales Price
$2,106,500
$2,209,590
▲4.9%
Median Sales Price
$1,584,200
$1,549,900
▼2.2%
Average Square Footage
3,468
3,035
▼12.5%
Price Per Square Foot
$615
$729
▲18.6%
Average Days on Market
81
158
▲93.8%
Sales Sold at Original List Price
7
13
▲85.7%
Top Sale Price
$9,000,000
$11,175,000
▲24.2%
Total Sale Volume
$136,922,509
$205,491,891
▲50.1%
Top Residential Sale $11,175,000 6881 S E N O R T H M A R I N A WAY, ST UA R T, F L 3 4 9 9 6
LUXURY REPORT
IPRE.COM
I P R E.C O M