Billionaires drive up average Palm Beach home price to $14 million

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Billionaires drive up average Palm Beach home price to $14 million
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Today's Business Headlines 10/19/23

Billionaire hedge funder plans to build the most expensive home on Earth — a $1B mega-estateBillionaire John Paulson claims ex-business partner swindled millions to fund lavish lifestyle: lawsuit— have decamped to South Florida in recent months, so it’s no wonder the median price of a single-family home in Palm Beach has surged to a staggering $14 million.

In this case, that would be single-family homes, which are typically categorized as such when a house has no shared walls, one kitchen and at least two separate entrance and exit points. All home types in the area, which includes condominiums and co-ops, saw a slightly smaller year-over-year increase, to a median sale price of $568,570, according to Redfin.

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