A growing number of billionaires flocking to 's richest neighborhoods are driving house prices on the East Coast to record levels. The median sale price for single-family homes in Palm Beach hit $14 million in September 2023 - a 117 percent year-on-year increase, according to national real estate brokerage Redfin. Palm Beach sits just north of Miami, where prices have risen by 7.7 percent over the past year to reach a median sale price of $599,000 for a family home.
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