Tina Fanjul Associates is the exclusive firm representing the Palm Beach/West Palm Beach real estate market as a member of the Haute Residence Real Estate Network. We sit down with Crista Ryan, President of the firm, to talk about the luxury real estate market and the spring break season in South Florida!
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How has the luxury real estate market in your market been performing so far in 2020?
Residential sales Jan 2020 vs. Jan 2019:
- 22 sales vs. 21
- +$96M sales volume vs. +$53.5M: 79% increase
- average sale price +$4.37M vs. +$2.5M: 71% increase.
Condo sales Jan 2020 vs. Jan 2019:
- 29 sales vs. 18: 61% increase
- +$47.4M sales volume vs. +$15.5M: 204% increase
- average sale price +$1.6M vs. +$865,000: 88% increase
What are buyers looking for in their homes in your market in 2020?
New construction and renovated homes
Which has been a highlight sale for you so far in 2020?
The highlight of our 2020 has been the closing of 113 Atlantic Avenue, Palm Beach – representing the Buyer of this new Mediterranean construction on the ocean block, in-town home. Convenient location on large lot.
301 Indian Road: represented the Seller of this land sale on the northernmost edge of Palm Beach Island, the perfect opportunity to build a dream home!
Are there any new restaurants or other spots in your market you’ve been loving lately?
Yes, Palm Beach has more restaurants opening this year than any year in the past. LoLa 41 from Nantucket, Almond from Bridgehampton, Shifty’s from NYC, and a new location for Italian dining, Trevini.
It’s time for spring break. What is a fun activity in your market?
One of Palm Beach’s best activities is going to the beach. Lucky for us, we can go to the beach at any time of the year! We find that spring breakers love the beach too! With our influx in population from 10,000 to +30,000 in season, the beach is a hot spot, along with delicious al fresco dining and the beautiful Vias of Worth Avenue.
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