Since November, Palm Beach has seen sales valued at a total of $419 million, with another $213 million in pending deals, according to Margit Brandt of Premier Estate Properties, who has sold several homes near Mar-a-Lago, including within the security bubble that surrounds it.
New signed contracts for single-family homes valued at $5 million or more tripled in January from a year ago
Palm Beach County has seen a surge of interest since Donald Trump won the presidency for a second time in November—and the numbers for January show the demand continued into the new year.
Deals for single-family homes valued at $5 million or more tripled in January from a year ago, while contracts for all single-family homes increased 41%, according to data from Douglas Elliman released Thursday.
In January alone, there were 13 deals signed for homes valued at $10 million or more, up from three the year before. That follows 19 deals above $10 million in November and December combined, compared to 6 the previous year, according to previous data from Douglas Elliman. Most of those sales were in Palm Beach, the barrier island where Trump holds court from his resort at Mar-a-Lago.
Since November, Palm Beach has seen sales valued at a total of $419 million, with another $213 million in pending deals, according to Margit Brandt of Premier Estate Properties, who has sold several homes near Mar-a-Lago, including within the security bubble that surrounds it.
“We have undoubtedly seen a huge bump after the election,” said Brandt, including from foreign buyers.
“Some international buyers now have their sights set on Palm Beach, so we’ve expanded the buyer pool majorly,” she said. “Palm Beach is on the world stage now; it’s the center of the universe.”
Deals near Trump’s southern base include Fox News host Sean Hannity’s recent purchase of a $14.9 million townhouse and the sale of an unfinished spec home across from the resort for $19.5 million in late January, less than half of the $45 million asking price.
The Trump effect was limited to Palm Beach. In both Miami-Dade and Broward, contracts for single-family homes were down more than 45% from January 2024. At the luxury end, contracts above $5 million fell by half in Miami-Dade to 10 in January, while Broward saw a total of two, one more than the previous year, per the data.
Condo deals were down in both counties as well, by 36.9% in Miami-Dade and 45.7% in Broward, while they rose 11% in Palm Beach County.
Single-family inventory was up across the board in both Palm Beach County and Miami-Dade by more than 50% compared to last year, but down in Broward. At the luxury end, all three counties saw similar increases, with available homes above $5 million up 60% or more from 2024.
Condo inventory was up 32% in Palm Beach, 40% in Miami-Dade, and down 22% in Broward.