Luxury prices in Palm Beach, Florida, surged in the second quarter, although the number of sales decreased in the midst of stay-at-home orders amid the Covid-19 pandemic, according to reports released Thursday.

There were nine luxury sales, defined by Douglas Elliman as the top 10% most expensive sales, in Palm Beach from April to June. The number was down 35.7% compared to the same period last year, according to the brokerage’s report, prepared by Jonathan Miller, chief executive of real estate appraisal firm Miller Samuel.

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However, the median price of these luxury sales reached $14 million, increasing 69.5% year-over-year. The average price was $16.2 million, up 51.7% from the second quarter last year.

Elsewhere in the region, the number of luxury sales in Miami Beach fell 50.6% year-over-year to 43 in the second quarter, whereas the median price increased 11.8% to $2.85 million, according to the Douglas Elliman report.

The threshold of the luxury segment for Palm Beach in the second quarter was $11 million. One of the highest-priced sales was the $46.75-million sale of shopping mall mogul Alfred Taubman’s estate in May.

“When Covid-19 hit, owning a home with a pool and outdoor space contributed to people’s desire to be there,” said Jay Parker, CEO of Douglas Elliman Florida.

Across all the price points, the number of single-family sales in Palm Beach increased 21% annually to 41 during the second quarter, and the median price increased 36% to $7 million, according to a separate report by Corcoran, also released Thursday.

There were 14 properties priced over $10 million sold during the quarter, compared to six last year., according to Pamela Liebman, president and chief executive of The Corcoran Group.

"An increased number of luxury buyers are seeking extra square footage, and home amenities like theater rooms and pools," she said. "For many South Florida home seekers, the buzzwords are ‘privacy’ and ‘space.’”

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In comparison, the number of condo or co-op apartment sales fell 60% year-over-year to 61 during the second quarter, while the median sales price increased 55% to $835,000, according to the Corcoran report.

According to the Douglas Elliman report, there were 52 condo sales in Palm Beach during the second quarter, a 50.9% decrease year-over-year. But the median price rose 20.4% year-over-year to $928,750. The increase in condo price is skewed by the apartment sizes, according to Mr. Miller.

The average size of the apartments sold in the last quarter was 1,910 square feet, a 9.6% increase year-over-year, marking the largest average size in two years, Mr. Miller said.