Palm Beach Land Surges to $39M

Real Estate News Today | 2 Min News | The Daily News Now! · Jun 28, 2026 · 1m

A Palm Beach waterfront lot just sold for $39.2 million—up $6.2 million from last year’s price—highlighting a booming trend where prime land, even without a house, commands sky-high prices. Once home to Bob Vila’s lakefront estate, the site now sits empty, ready for a modern mansion. With inventory down 17% and median home prices up 13% in Q1 2026, South Florida’s land scarcity is driving demand, turning vacant lots into gold. Other big deals, like a $24.3M waterfront purchase in Gables Estates and a $14.9M teardown, prove this isn’t a fluke—it’s the new reality of luxury real estate. Support…