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Palm Beach has established itself as the hottest real estate market in Florida, with home sales surging by an impressive 63.2% year-over-year during the first quarter of 2025. This sharp increase has driven the median home sale price to an astonishing $13.95 million, with luxury properties in the top 10% fetching median prices of $23.75 million—up nearly 71% in just a year.
The phenomenon known as the "Trump bump," attributed to increased interest following the recent election, has drawn affluent buyers from high-cost regions, particularly New York and California, seeking the perceived benefits of living in Florida, such as favorable taxes and enjoyable weather.