The Palm Beaches hold many spots on The List regarding their high position in luxury real estate, but they stand out especially in the market for single-family homes, where they’re featured on the list of the top five percent and the top ten percent markets.In Coldwell Banker’s annual report, simply titled ‘The Report’, the real estate agency detailed how they identified some of the strongest luxury real estate markets in the country, titled ‘Power Markets’. These Power Markets analyze a variety of statistics regarding the luxury home market in the top five and ten percent of nearly 50 U.S. luxury markets, helping to identify trends coming out of 2017. The Palm Beaches hold many spots on The List regarding their high position in luxury real estate, but they stand out especially in the market for single-family homes, where they’re featured on the list of the top five percent and the top ten percent markets. It begs the question as to how consumers themselves establish this area as a power market. When you consider the area’s offerings, combined with its strong home buying market, it’s easy to see what pulls in buyers looking to live here. 
 

 Arts and Entertainments

 The Palm Beaches take a good time very seriously. Creators of all types are drawn to the sunny skies and cool blue waters, and find inspiration in the vibrant lifestyle. This results in being able to find art everywhere and in the most unique places. The renowned Artigras art festival brings buyers and creators from every corner of the world to peruse, discuss, and partake in creative endeavors. A unique setup has the artists on site to sell their creations, as to make them available for discussion with the purchaser. Live entertainment and theatre are regarded highly seriously as well, with the Wick Theatre hosting a costume museum, The Wick Theatre and Costume Museum, that holds famous costume pieces from Broadway, among others.

 

Shopping and Dining

 The Palm Beaches draw in quality just by the nature of their existence. Designer brands and independent ones all want to be situated by the natural beauty of the area. Independent shops such as Lola Chic lie right next to The Gardens Mall, where high-end brands such as Coach and Jo Malone can be found. Nearby PGA Boulevard caters to a discerning market, with upscale restaurants such as Prosecco Café offering unique ingredients and classic dishes with a twist and Bamboo Clothiers in PGA Commons providing a fashion style that can’t be found anywhere else. The area also brings culinary artists hoping to use the area’s rich ingredients in their creations. Spoto’s Oyster Bar and Blue Point Lounge plays with the flavors of Florida using catches from its ocean and cocktails infused with its fruits. 

 

Housing

Part of what made this area a power market to Coldwell Banker was its strength in the luxury real estate market. The previously mentioned arts, entertainments, shopping, and dining have visitors and future residents arriving from far off destinations to experience the best that the Palm Beaches have to offer, especially when it comes to residences. According to Coldwell Banker’s ‘The Report’, the Palm Beaches has established themselves in the top five percent and the top ten percent locations of the strongest Power Markets for luxury real estate, especially when it comes to single-family homes. Homes in the top ten percent hold a median inventory list price of $10,600,000, meaning that that number is roughly in the middle of what single family homes are listed for when the Palm Beaches are counted as in the top ten percent of single family home Power Markets. When the Palm Beaches are adjusted to be in the top five percent of single family home Power Markets, that median inventory list price changes to $16,408, 750. The residents of the Palm Beaches put a high value on their residences, and work to upkeep them and construct them with the best materials.

In the middle of this Power Market area is BallenIsles. Located at the heart of Palm Beach Gardens, this exclusive country club hosts some of the best dining and golfing in the area in one of the most financially powerful areas in the world. The on-site Clubhouse hosts a variety of features, including two bars and a restaurant that overlooks one of BallenIsles’ famous golf courses. Businesses merge with BallenIsles at their famous trunk shows, where specialty high end products are sold exclusively to members of the club. Not to mention that the homes are all gorgeously designed and built by the best construction teams in the country. Become part of BallenIsles- call (561)622-0220 or click here to do so.