How is the condo market in the Palm Beach area these days? Great for retirees, people who want a pied-à-terre in South Florida or the buyer with a penchant for amenity-filled living without the headache of maintenance that a house brings, a luxurious condo has a lot to offer. With several new condominium projects underway in West Palm Beach and Boca Raton, we were curious about the sales in both new developments and in prestigious high-rises. What are some of the issues coming up, and how are agents navigating them?

Sonja Stevens
SOTHEBY’S INTERNATIONAL REALTY
PALM BEACH

These days, the condo market in Palm Beach and West Palm Beach seems to be slow, as so many of the older buildings have imposed high fees to conform with new standards for repairs and reserve funds that must be in place by law. The South Florida condominium market has always been a haven for “snowbirds”, and it is an easy way to be able to just lock the doors behind you, with no headaches, as opposed to a house, with all the maintenance and the worry about hurricanes in the off season. New development projects seem to be considerably more active and vibrant than what is selling in the older condominium buildings. West Palm Beach’s premier new developments are South Flagler House, Olara, Forte, Mr. C’s, Shorecrest, and Avenir. My clients have purchased in these buildings, and all for different reasons. Some are moving their family and businesses to West Palm Beach, some just wanted an extra pied-a-terre to be used for out-of-town family visits, and a few are buying with an eye towards retirement and downsizing. Of these different categories, all are purchasing in these buildings because of the superb amenities, restaurants, Epicurean Shops, and the fact they are brand new. It is all about being in a resort destination with fabulous weather, coupled with easy access to beaches, entertainment, shopping, and now a growing class A business center. Knowing your clients’ needs and delivering personalized service are the keys to defining yourself and creating your own competitive edge in this highly competitive real estate market.

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Thor Brown
COMPASS
PALM BEACH

Condo units are staying on the market a bit longer, but well-maintained buildings with recent renovations, direct ocean access and strong reserves continue to attract buyers from key feeder markets to Palm Beach. Older units may take longer to sell, but if priced correctly, they still present strong opportunities for buyers. Navigating the current market requires a clear understanding of factors such as upcoming assessments, reserve funding, structural studies, and the impact of high interest rates.

Bonnie Schwartz
DOUGLAS ELLIMAN
NEW DEVELOPMENT SALES EXECUTIVE
GLASS HOUSE BOCA RATON

The new development luxury condo market in Palm Beach County is performing very well these days, and it is arguably outperforming Broward and Miami. The condo market in Palm Beach County is not immune to the current uncertainty in the market on a global level, but the fundamentals here are still solid. So, the slower-than-usual selling season we are experiencing this year is viewed more as a blip on the screen than a market issue, and it is presenting an opportunity to buyers who can see beyond the next few months. Unlike the counties south of us, inventory levels are not an issue. On the contrary, in places like Boca Raton, the inventory of new condos downtown is as low as it has ever been. So, the main issue is the state of the global market, which should stabilize in the coming months.

Kathy Koch Pitlake
DOUGLAS ELLIMAN
EXECUTIVE DIRECTOR OF SALES
ALINA RESIDENCES
BOCA RATON

The Palm Beach County condo market has never been stronger. Luxury buyers continue to be attracted to it and look for new construction. There continues to be an influx of buyers from all over the country, as well as local residents moving from single-family homes into condominiums. A number of full-time South Floridians have made ALINA Residences their home. Many of our Phase 1 residents, just delivered in April 2021, have purchased a second condo in Phase 2. We are currently more than 80% sold. Because there is so much new construction activity in the luxury condo market, consumers are shopping longer and searching in a wider geographical area. The development of branded properties has brought attention to some new, previously overlooked neighborhoods, as luxury buyers look for brand names that they recognize. The savvy ones also look at development teams with a history of delivering successful projects, and location has always been the number one rule in real estate. Consumers are well educated and have seen the bad press regarding assessments on older condos, and higher insurance premiums. Fortunately, ALINA Residences has brand-new, move-in-ready homes, so buyers can take possession of their sparkling condo immediately.

Brian Fairweather
THE AGENCY
MANAGING DIRECTOR
PALM BEACH

The South Florida condo market has faced challenges recently due to insurance issues and many buildings nearing 50 years old. While older properties still offer opportunities, rising HOA dues and assessments have led some owners to sell, especially after regulatory changes following the 2021 Surfside building collapse. Despite these hurdles, new developments along the South Florida corridor offer promising opportunities. These modern buildings, free from the issues of assessments and restorations, appeal to both full-time and part-time residents. Full-time buyers enjoy luxury amenities and proximity to downtown’s shops and nightlife, while part-time residents appreciate low-maintenance living without yard work. The influx of new projects, many nearing completion or just beginning, has sparked healthy competition among developers. This benefits buyers, as each new building aims to surpass the last in quality and innovation. A growing trend is the inclusion of health and wellness amenities, such as cold plunges, spas, yoga studios, and gyms, catering to the increasing demand for lifestyle-focused features. Overall, the South Florida condo market offers something for everyone. With so many options available, working with a knowledgeable real estate professional is key to finding a property that fits your needs and preferences.

Dovi Ettedgui
THE CORCORAN GROUP
PALM BEACH

The condo market in the Palm Beach area is thriving, driven by the growing interest in luxury living–with notable developments like Glass House and ALINA, to name a few. In East Boca, boutique luxury buildings like Glass House are seeing strong pre-construction sales, while Alina has achieved an impressive sell-out percentage since its completion. Both buildings offer buyers peace of mind, free from concerns like assessments or potential concrete restoration. The superior construction and exceptional service at these properties are key selling points. As for trends in West Palm Beach and Boca Raton, both new developments and prestigious high-rises are faring well. The market for new developments is strong, with buyers attracted to the modern amenities, privacy, and effortless living. Established high-rises remain highly sought after due to their desirable locations and appeal. When it comes to navigating the opportunities and challenges of these new developments, one key consideration is finding the balance between luxury and functionality. Buyers are increasingly interested in properties that offer not only top-tier amenities but also a high level of convenience and lifestyle improvements. To help my clients make informed decisions, I prioritize understanding their unique needs and guiding them toward properties that complement their vision and lifestyle, ensuring a smooth and informed buying experience.

Katia Reisler
DOUGLAS ELLIMAN

The condo market in the Palm Beach area remains exceptionally strong, fueled by buyers seeking more than just a residence — they’re seeking a lifestyle. Whether it’s retirees, seasonal residents, or buyers looking for a second home, there’s a clear desire for elevated, turnkey living that feels like a vacation woven into daily life. Developments in West Palm Beach and Boca Raton — including Mr. C Residences, ALINA, and The Ritz Carlton Residences — reflect this shift with thoughtfully curated amenities, in-building dining, wellness experiences, and elevated retail concepts. Buyers are gravitating toward properties that offer the feel of a private club: spa-like spaces, concierge services, and vibrant social settings. Sales activity remains strong in both new developments and prestigious high-rises, particularly those aligned with global brands and lifestyle-driven design. Agents are meeting this demand with elevated marketing — immersive video, curated presentations, and storytelling that brings each property to life, especially for international and remote buyers. Today’s condo buyer expects more than beauty — they want effortless access to experiences that enhance how they live, work, and recharge. In today’s market, luxury is defined by how effortlessly a space enhances your everyday life — and the Palm Beach condo lifestyle delivers that with precision and style.

This Real Estate Roundtable appeared in the April issue of Behind The Hedges and Dan’s Palm Beach. Read the full digital edition by clicking here. For more Real Estate Roundtables from our various magazines, tap this link.