Resort openings, developments, and renovations to spur growth in Palm Beach County says local real estate expert Laura Derrickson

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The string of major resort renovations and new resort openings in Palm Beach County spells good news for the region’s real estate market, says prominent local Realtor Laura Derrickson. According to Derrickson, the median home price in the county continues to trend upwards and the resorts help attract more investors to the area.

While the number of closings has declined somewhat, home prices are improving. In September, the median sales price for single-family homes was $316,000, which represents an increase of 10.9 percent over last year’s. We are still in a sellers’ market.

New resorts have opened in Palm Beach County, while mainstays such as Boca Raton Resort & Club, Palm Beach Marriott Singer Island Beach Resort & Spa, and Tideline Ocean Resort & Spa are getting refurbished. These developments will spur growth in the area and its housing market, according to real estate professional Laura Derrickson.

Continual growth
New hotels, such as Towne Place Suites by Marriott in Boynton Beach and Fairfield Inn & Suites in Delray Beach, are now open for business. A number of new hotels are also under development.

The area’s existing hotels and resorts are getting renovated to match up to consumers’ evolving tastes and to keep wear and tear at bay.

The Boca Raton Resort & Club is getting $4 million worth of renovations done on its golf course. Its events facilities, the Mizner Conference Center and the Great Hall, are due for new carpeting, tapestries, window treatments, and sound and lighting upgrades.

Palm Beach Marriott Singer Island Beach Resort & Spa has made renovations to its lobby, guest rooms, meeting spaces, and its signature restaurant, 3800 Ocean.

Tideline has refurbished its lobby, shared areas, and meeting spaces earlier this year. The hotel’s second-floor Michelle Bernstein eatery has also been converted to a 2,000-square-foot conference room.

Award-winning hotels and resorts
Several of Palm Beach County’s resorts have also recently appeared on Condé Nast Traveler’s 2016 Reader’s Choice Awards. These include Eau Palm Beach Resort & Spa, which nabbed the top spot on the list of top resorts on Florida’s Atlantic coast.

Also on the list are Tideline Ocean Resort & Spa (#4), Jupiter Beach Resort & Spa (#8), The Breakers Palm Beach (#14), and Boca Raton Resort & Club-Waldorf Astoria (#19).

Bright prospects
“It’s an exciting time,” Derrickson says. “All this shows that the local hotel industry is continuously growing, and that even the most established resorts are keeping up with the trends.”

“Not only does this mean that that local tourism is staying strong, it also means that there will be new jobs in the near future,” she adds.

Derrickson says that the housing market in Palm Beach County has been relatively stable over the past year. “While the number of closings has declined somewhat, home prices are improving. In September, the median sales price for single-family homes was $316,000, which represents an increase of 10.9 percent over last year’s. We are still in a sellers’ market.”

Laura Derrickson is a licensed Realtor® with Signature International Real Estate, LLC, one of Florida’s top real estate agencies. She’s a member of the National Association of Professional Women, Institute of Luxury Home Marketing, and Women’s Council of Realtors®.

At http://soflaluxuryhomes.com/, Derrickson offers updated property listings and community information as well as information on her comprehensive services to those interested in luxury, country club, and estate homes in Boca Raton, Boynton Beach, Del Ray Beach, and nearby communities.

Visit http://soflaluxuryhomes.com/ or call her at 561.571.5055 for more information on Palm Beach County real estate.

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