Palm Beach Condos Are Stronger Than Ever
Across much of Florida, the condominium market continues to adjust to stricter safety regulations, milestone inspections, and rising insurance costs. Yet here in Palm Beach, the story looks very different.
At Scott Gordon Group, we are seeing a condo market that is not only stable but healthier than it has been in years. Many of Palm Beach’s most established oceanfront and South End buildings have already completed their assessments and repairs, putting them in excellent condition both physically and financially.
As Scott explained in a recent article with The Real Deal, “Everybody’s reading the same doom and gloom about this market. For the luxury market, those buildings are in better shape than they’ve been in a decade.”
Why Palm Beach Is Built to Withstand Market Shifts
The new statewide regulations introduced after the Surfside tragedy required older buildings to complete safety inspections and maintain updated reserves. While these changes created financial challenges for many communities across Florida, Palm Beach has fared better than most.
That kind of proactive reinvestment has left buildings stronger and, in many cases, more desirable. Design upgrades, refreshed lobbies, and improved structural systems have elevated the standard of living across much of the island’s condominium landscape.
A Market Adjusting to Reality
While luxury buyers continue to see value in Palm Beach condos, pricing has also evolved to reflect the current market. “Prices are coming down to reflect the reality of the market,” Scott noted. “Sellers have been much more receptive to paying off special assessments just to move deals forward.”
Many associations, including well-known addresses such as The Meridian, The Cove, and The Halcyon, have now implemented “due on sale” clauses. These ensure that sellers pay their share of assessment costs at closing, allowing buyers to take ownership of fully compliant, renovated residences.
We recently had a deal in the Meridian, which took out a $10 million loan for its repairs, that involved a $122,000 payment for its ‘due on sale’ clause.
As Scott shared, “I think every contract that we’ve written lately has a ‘due on sale’ clause for the special assessment. The seller in almost every sale that we’ve done is responsible for the full payment of the assessments.”
What This Means for Buyers and Sellers
For buyers, this new phase of the Palm Beach condo market presents an opportunity. Many of the island’s classic buildings now offer fully restored amenities and updated infrastructure, giving residents the benefit of modern comfort within Palm Beach’s timeless setting.
For sellers, the message is clear: transparency and readiness are key. Buildings that have already completed repairs or are nearing completion are commanding more interest and stronger offers.
The bottom line? Palm Beach’s condo market is not in crisis—it is recalibrating and emerging stronger than ever.
For more information, please read the full article here.
The Next Move Is Yours
Whether you are considering purchasing an oceanfront condo, selling your renovated residence, or exploring discreet off-market opportunities, our team can help you navigate this evolving landscape with confidence.
Scott Gordon
📞 (561) 346-4141
Mindy Gordon
📞 (561) 302-3133
