As prognosticated, the Palm Beach residential real estate market continued its positive momentum through Q4 2017, culminating with record high dollar volume, average price and median price at 2017’s year-end. In spite of seemingly persistent negative media, including widespread natural disasters, foreign and domestic terror threats and even boasts of nuclear capabilities, the aforementioned “era of optimism” prevailed, sustained in large part by an enduring economic environment. Now in its eighth year of slow and steady improvement, the economy continues its upward trajectory, buoyed most recently by the highly anticipated tax reform and unprecedented year-end stock market performances. The Palm Beach residential real estate market seemingly advances in tandem: increasing demand for quality exerts upward pressure on prices, while the island’s intrinsic beauty, unmatched safety and security and inherent desirability continue to cultivate sophisticated and discerning buyers. Barring an unforeseen black swan event, we would anticipate this positive momentum to extend through 2018 and beyond.
