Is North Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, North Palm Beach was a Seller's Market.
Key Takeaway
North Palm Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Palm Beach, FL
How much do homes in North Palm Beach, FL cost?
Median Sold Price
$551,600
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Palm Beach have sold for 19.9% more than they did a year ago.
Summary: The median home sold price in North Palm Beach was $551,600 in May 2024, up 19.9% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $230K | +15.0% |
| 2 Bedrooms | $380K | $400K | +5.3% |
| 3 Bedrooms | $672.5K | $770K | +14.5% |
| 4 Bedrooms | $940K | $1.2M | +37.6% |
| 5+ Bedrooms | $5.3M | $4.0M | -25.3% |
Summary: North Palm Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 37.6%, and 5+ bedroom homes decreased by 25.3%.
Median Sold Price Compared To Nearby Cities
| Lake Park | $320K | $410K | +28.1% |
| North Palm Beach | $460K | $551.6K | +19.9% |
| Palm Beach Gardens | $638.4K | $709.8K | +11.2% |
| Riviera Beach | $405K | $389K | -3.9% |
Housing Supply in North Palm Beach, FL
How many homes are available in North Palm Beach, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 316 | 325 | +2.8% |
Summary: The North Palm Beach real estate market had 325 homes for sale in May 2024, a 2.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 33 | +10.0% |
| 2 Bedrooms | 136 | 137 | +0.7% |
| 3 Bedrooms | 86 | 86 | 0.0% |
| 4 Bedrooms | 37 | 42 | +13.5% |
| 5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The North Palm Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 0.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 37 | -17.8% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Palm Beach, you may be able to get a good deal. 86.5% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in North Palm Beach in May 2024, down by 17.8% month-over-month. Of the 37 sold homes, 86% were sold under asking, 8% were sold at asking, and 5% were sold over asking.
Days on Market for North Palm Beach, FL
How long does it take to sell a home in North Palm Beach, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 80 Days | +63.2% |
Summary: Homes in North Palm Beach had an average of 80 days on market in May 2024, up by 63.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Palm Beach are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 37 homes were sold in North Palm Beach; 41% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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