“We have undoubtedly seen a huge bump after the election,” Margit Brandt of Premier Estate Properties, whose sales include properties within the Mar-a-Lago security zone, told Mansion Global.
Balmy Palm Beach is on fire — especially when it comes to high-end real estate.
Since Donald Trump’s second presidential win in November, the ultra-wealthy have flocked to the exclusive enclave, driving home sales to record levels — while Miami and Broward struggle to keep up. Palm Beach, of course, has long been home to the president’s Mar-a-Lago property.
In January alone, sales of single-family homes priced at $5 million or more in Palm Beach tripled from the previous year, according to data from Douglas Elliman.
Deals for all single-family homes in Palm Beach County also soared, up 41% year-over-year. But the real action is in the ultra-luxury tier.
Thirteen contracts were signed for properties worth $10 million or more last month — up from just three in January 2024.
That follows a massive jump in November and December, when 19 such deals were made, more than triple the previous year’s total.
Much of this buying frenzy is centered around Palm Beach’s most famous resident.
“We have undoubtedly seen a huge bump after the election,” Margit Brandt of Premier Estate Properties, whose sales include properties within the Mar-a-Lago security zone, told Mansion Global.
“Some international buyers now have their sights set on Palm Beach, so we’ve expanded the buyer pool majorly. Palm Beach is on the world stage now; it’s the center of the universe.”
Among the high-profile transactions, Fox News host Sean Hannity recently snapped up a $14.9 million townhouse, while a spec home directly across from Mar-a-Lago sold for $19.5 million — less than half its original $45 million asking price.
While Palm Beach thrives, Miami-Dade and Broward counties are feeling the chill. Luxury contracts in Miami-Dade, which once rivaled Palm Beach’s market, have been cut in half, dropping to just 10 in January.
Broward saw only two deals above $5 million, up by just one from the previous year. The condo market isn’t faring much better.
Sales fell nearly 37% in Miami-Dade and 46% in Broward, while Palm Beach County bucked the trend with an 11% increase.
Despite the demand in Palm Beach, inventory is piling up, as it appears homeowners are looking to cash in. Listings for single-family homes are up more than 50% in both Palm Beach and Miami-Dade, while Broward saw a decline.
At the luxury level, available homes priced above $5 million rose more than 60% across all three counties.
Condo inventory also surged in Palm Beach and Miami-Dade — up 32% and 40%, respectively — while Broward saw a 22% drop.
Source: https://nypost.com/2025/02/07/real-estate/palm-beachs-luxury-real-estate-market-is-booming/