A Tale of Two Cities

As of now, there are 194 properties listed for sale on Singer Island, marking a significant increase from late December 2023 when only 100 properties were available. Currently, there are 40 properties under contract, including 9 single-family homes. So far this year, 79 resale properties have closed, with 26 of them being single-family homes.

Condo sales have reached 53 this year, which is lower compared to the same period in 2023. However, sales activity for high-end condos has picked up in April and May, with several record-breaking transactions in the pipeline. There are 50 condos on Singer Island listed at $1.5 million or more, while 125 condos are listed at prices below $1.5 million.

Development Boom on Singer Island and Palm Beach Shores

Developers have turned their attention to Singer Island and Palm Beach Shores, leading to a wave of new or refurbished condo towers under construction. Notable projects include:

Pearl at 123 S. Ocean Ave, Palm Beach Shores
Havn at the 2008 Cannonsport apartment building, Palm Beach Shores
The Driftwood at 2323 Lake Drive
Icon Palm Beach Shores at 200-206 Inlet Way, a 15-unit luxury condo development, expected to start closings later this year
Additionally, there are ongoing rumors about the Related Group’s plans for their recent acquisition of the Ocean Walk Mall (formerly known as Ocean Mall) and other smaller developers’ interest in various land parcels and smaller strip malls across the island.