Single-family home and condo sales decreased in Palm Beach and West Palm Beach during the fourth quarter of 2022 compared to the previous year, but prices rose across the board, Brown Harris Stevens reported.

The firm’s Palm Beach Residential Market Report showed that average condo pricing in West Palm grew by nearly $100,000 year over year while the price per square foot in Palm Beach condos eclipsed $1,000.

The town of Palm Beach saw just 11 single-family home sales in the fourth quarter of 2022 compared to 36 in the same period in 2021. The average price on those 11 homes, though, was $23.2 million compared to $14.1 million the year before.

Condo sales in Palm Beach followed a similar pattern. Total sales decreased from 125 to 50 year over year while the average sale price increased to $1.76 million, up from $1.53 million in 2021. The price per square foot in the fourth quarter of 2022 reached $1,003, up from $780.

In West Palm Beach, single-family home sales dropped 34% year over year, but the average sale price increased from $817,000 to $870,000. West Palm condo sales dropped 37% while average pricing increased $99,000 to $715,000.