NEST SEEKERS TRENDS & INDICATORS

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Q1 Recap 2021 by Erin Sykes | Q1 2021 Q1 2021 exhibited 24 trades priced over $10 Million, twice as many as Q1 2020. Of these 24 trades, five were between $20M - $30M, two were between $30M-$40M, four were between $40M-$50M, two were between $50M-$60M, one was $73M, and one was $133M, marking a new record high for Palm Beach County. Palm Beach shows no signs of slowing, demonstrating ultra-low inventory levels and strong demand, with Miami gaining traction and reporting record new development sales. In whole, Miami-Fort Lauderdale-West Palm Beach Metro home values have gone up 7.8% over the past year and predicted to rise an additional 9.4% in the next twelve months. After a difficult year, New York City is now moving in synergy with its ‘sixth borough.’ In March alone, around 1,500 Manhattan residences were in contract for sale. That marked the highest number of deals for any one month in 14 years, according to UrbanDigs. Inventory is getting leaner, haven fallen 22.5% since Q3 2020 and is now only about 6.9% above the 20-year quarterly average. London is seeing similar traction, with just .6 months of available inventory and the strongest ultra-luxury market in the world. Continue Reading

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