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 March 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
$530,000
$371/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in North Palm Beach have sold for 17.8% more than they did a year ago.
Summary: The median home sold price in North Palm Beach was $530,000 in March 2024, up 17.8% from last year, and the median price per square foot was $371.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205.5K | $212K | +3.2% |
| 2 Bedrooms | $383.7K | $388.7K | +1.3% |
| 3 Bedrooms | $665K | $750K | +12.8% |
| 4 Bedrooms | $905K | $1.3M | +43.6% |
| 5+ Bedrooms | $4.7M | $5.8M | +21.1% |
Summary: North Palm Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 43.6%, and 5+ bedroom homes increased by 21.1%.
Median Sold Price Compared To Nearby Cities
| Lake Park | $322.5K | $402K | +24.7% |
| North Palm Beach | $450K | $530K | +17.8% |
| Palm Beach Gardens | $622K | $719.8K | +15.7% |
| Riviera Beach | $415K | $390.6K | -5.9% |
Housing Supply in North Palm Beach, FL
How many homes are available in North Palm Beach, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 320 | 358 | +11.9% |
Summary: The North Palm Beach real estate market had 358 homes for sale in March 2024, a 11.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 41 | +36.7% |
| 2 Bedrooms | 158 | 168 | +6.3% |
| 3 Bedrooms | 82 | 88 | +7.3% |
| 4 Bedrooms | 34 | 40 | +17.6% |
| 5+ Bedrooms | 16 | 21 | +31.3% |
Summary: The North Palm Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.7%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 31.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 43 | +79.2% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
4 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% of homes here sold below asking price last month.
Summary: A total of 43 homes were sold or pending in North Palm Beach in March 2024, up by 79.2% month-over-month. Of the 43 sold homes, 86% were sold under asking, 9% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 47 Days | -21.1% |
Summary: Homes in North Palm Beach had an average of 47 days on market in Mar 2024, down by 21.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
8 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 March 2024, 43 homes were sold in North Palm Beach; 53% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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