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lba Palm Beach, a luxury condo development in West Palm Beach with Intracoastal waterfront townhomes, has sold its final townhome for $10.66 million. This sale comes as some reports suggest a housing crisis is brewing in Florida, with unsold homes rising 23% year-over-year in January.

    Real estate agents in the Palm Beach area say the market can be immune to trends due to its high-end exclusivity. Michael Costello notes that while it's a buyer's market, there are still great opportunities for buyers at entry-level and mid-level price points, with high-end properties commanding record prices.

    Katie Weisz, Director of Sales for Alba Palm Beach, says the luxury market in Palm Beach County is stronger than ever, driven by corporate relocations, hospital expansions, and a wave of new developments. Desirable areas like Northwood are seeing increased demand due to their proximity to Downtown while still offering neighborhood charm.

    Dana Koch notes that while there's more inventory available, many homes are overpriced, leading to extended market times. However, the high-end market remains strong, with buyers seeking quality products and prime locations. John Wilson says Palm Beach Island is unique, with high demand for its limited number of homes, while West Palm Beach is attracting hedge funds and asset management firms.

    John Greene notes that certain segments of the market are experiencing softening, but The Palm Beaches remain resilient due to their global appeal and exceptional quality of construction. Affluent buyers are seeking luxury condominiums with prime locations, high-end finishes, and a simplified lifestyle experience.