Brokers in Florida say that the real estate market in Palm Beach is not only hot — it’s sizzling. Some are even claiming that the blaze is burning brighter in the Sunshine State than anywhere else in the world. Florida based Real Estate Agent Barry Denton weighs in on the status of the market:
Since Spring 2020, COVID has sent shockwaves through virtually every industry. For some ventures, business is booming. For others, the struggle to stay afloat is very much real. According to real estate professionals in Florida, the market is flourishing, in spite of the pandemic price plummet experienced by some other reasons across the United States.
Specifically in the Palm Beach, Florida area, real estate professionals are calling the area’s real estate market “the hottest in the world!” It’s quite a lavish claim — maybe even a little hard to believe. But as someone navigating the market’s terrain as a Florida Real Estate Agent, Barry Denton has to agree: the real estate rumors are true!
The average property price in Palm Beach, as of October 2020, weighs in at more than $7 million. With the inventory of homes for sale currently sitting at 79% (and steadily falling), that value is anticipated to skyrocket. To say the least, property owners will find that their homes will become more and more coveted as the pandemic rages on. But if you live in and love the Sunshine State like Barry Denton, you likely already know how sought after these gorgeous utopic homes always are!