February: Letter from Palm Beach: Green Grow the Markets, O!

The Cregan Team - February 28, 2021

When its White Up North, We've Got Your Greens!

Calling all Hunter-Gatherers! Since we've all become such proficient home chefs, we thought it time to call out the terrific GreenMarket held Saturday mornings in West Palm Beach. Go bright and early (masked, of course) for the beautiful produce from stalls like Swank Farms or to tap the inexhaustible knowledge of Jason Field, the Plant Guy. In addition to the agronomically-oriented stalls you'll find Cuban coffee, insanely fresh fish, a plentitude of pickle purveyors, the "chowdah" guy from Boston and a delightful mix of dogs, kids and music. Along our narrow strip of seaside towns, it's easy to forget that Florida farmers and ranchers work over 8 million acres of agricultural land in crops, pasture and timber.

We do love our local farmers, painful puns aside (see below).

Market Color: And Then, They Came for the Condos

The voracious demand for Single-Family homes has been the ongoing story this past year. Less talked about has been the stealthy rise in condo sales, especially over the last few months. The chart above shows new contracts for condo sales in Palm Beach. Note the spike in sales since last Fall. As the inventory of houses dried up, buyers turned to larger condos and when those were gone, seemingly anything with a 33480 zip code.

Happily, the condo pool is much deeper than that for single-family homes, especially for buyers who will broaden their search to include the really nice West Palm Beach buildings with beautiful views of Palm Beach island and the ocean beyond. Throw in the new buildings like La Clara and Forte currently under construction in West Palm and there are still plenty of great choices, with more on the way– note the 7.6% jump in new condo listings below.

Our Listing - for Annual or Seasonal Lease

Fresh and New on the Sea Streets

316 Seabreeze Avenue, Palm Beach
$30,000 Per Month for 12 Month Annual Lease

3
Bedrooms

4
Bathrooms

2,470
​​​​​​​Sq ft.

Available June 1st 2021 for annual or seasonal lease. 2019 construction in the heart of the Sea Streets. Beautiful kitchen and baths with every feature you could wish for. Sub Zero fridge, Wolf gas range, Paris Ceramics floors, heated towel bars. Three bedrooms: two large bedrooms with ensuite baths in main house, California king in master and queen bed in guest room. Plus upstairs den area with full-sized sleeper sofa. Sonos speakers throughout, fast WiFi and smart TVs. Guest House/Pool Cabana with its own beautiful new bath and living room can be furnished as bedroom or with L-shaped sofa hiding a pullout queen bed.

Rental Terms:
Annual: $30,000 per Month for 12 month lease
Seasonal: $50,000 per Month for 6 month lease

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Our Seller - Under Contract - 334 Chilean Avenue

Design Your Own in-town Dream

334 Chilean Avenue, Palm Beach

$4,795,000

-
​​​​​​​Bedrooms

-
Bathrooms

-
Sq ft.

Land! Absolutely prime location in middle of the 300 block of Chilean. Lot is 9,384 sqft. Zoning will permit a large two-story home covering 30% of the lot. Walk to Worth Avenue, beach and town docks. It's a dream location. In a market with so little inventory to choose from, why not build and get exactly what you want?

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Sold - Our Buyer 4001 N Ocean Blvd, Gulf Stream

4001 N Ocean Blvd #106 In the little slice of heaven that is Gulf Stream, a Coastal Contemporary styled gem overlooking the ocean. High-impact, floor-to-celing windows and doors that open on to your own outdoor living room, entertainment area. Just steps to the beach, luxury pool, gym with water views. 3 BR/3.5 Baths, 2 garage spaces, 24 hour concierge/security. Worry free living just 5 minutes to downtown Delray and 30 minutes to Worth Avenue. 3 beds/3.5 baths 2,841 sqft

Work With Us

As a real estate team, Lisa and John Cregan comprise a perfectly complementary set of skills- Lisa’s deep knowledge of architecture and interior design combined with John’s decades of experience in market analysis, finance and negotiation.

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