Just released: This year’s copy of the Evans Report. Palm Beach attorney, Leslie Evans, compiles the Evans Report annually. The report breaks down condo and single family home sales in geographic areas on the island.

For last year (2007) the average sales price of a single-family home was 5.11 million. This recent year (2008) the average sales price went up to $7.14 million.

The median single-family home price in 2007 was $3.5 million; the median home price in 2008 rose to $3.875 million. Median price is the price at which half the homes sold for less, and half sold for more.

Included in the report were 3 very publicized sales: Donald Trump’s home on 515 N. County Road in July – sold for $95 million. 1236 S. Ocean Blvd for 81.5 million and 60 Blossom Way for 68.5 million – both in April.

Recession or not, sexagenarians and septuagenarians are turning their eyes toward retirement. But retirees have more options than they have in the past and have different interests as well. A trend of retirees staying active would suggest that they'd like to remain close to urban areas and with the economy in its current condition that may not be such a bad idea.

Because of the declining value in 401Ks and economic instability many people are opting to partially retire by continuing to invest and maybe even continuing to work part time. If someone is deciding to partially retire, living in an urban area is a good idea. Living in an urban area like Palm Beach provides a variety of living options; particularly the condo-lifestyle and the home-lifestyle.

Palm Beach homes range from waterfront mansions to intercoastal villas, but usually uphold a high standard of luxury. Palm Beach is a popular place for boating so waterfront property is in high demand and usually comes with a dock or has a marina close by. 

Condo living is a choice if you want to invest in Palm Beach real estate for retirement. This option is growing in popularity as Palm Beach condos are known for having incredible amenities and residential features. They also have condos that are strictly for retirees which gives residents a community of friendly and familiar neighbors.

There's a lot to choose from when deciding on retirement property in Palm Beach, but the areas high reputation for luxury ensures retirees and semi-retirees a high standard of living.

Currently listed for 10.5 million, if sold at asking price the middle penthouse at Biltmore could break condo sales records for price per square foot!

Only one of 3 penthouses the middle condo offers unique expansive views of both the Intracoastal Waterway and the Atlantic Ocean. Offering 3,299 sq. ft. this two bedroom, 2 bathroom and 2 half bathroom home is unique in many ways. The east balcony expands across most of the 10th floor and the west 2 balconies are accessed from the master bedroom and the library.

Some of the penthouse’s luxurious features include a private elevator, “huge” butler’s pantry off the kitchen, expansive wood paneled library, one-of-a-kind views of the Ocean and Intracoastal as well as a poolside cabana, which can sell alone for $400,000.

The Biltmore was built originally as The Alba Hotel in 1925 and was converted to condos in the 1970’s. The Biltmore is certainly one of the most prestigious buildings to be found in the South East United States.