Is Palm Beach, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palm Beach is a buyer's market

Buyer's
Market

Difference Since July 2021

At the same time last year, Palm Beach was a Seller's Market.

Key Takeaway

Palm Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Palm Beach, FL cost?

Median Sold Price

$1,790,133

$1,084/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$248,133(+16.1%)

Key Takeaway

Homes in Palm Beach have sold for 16.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $309K$412.8K
+33.6%
2 $893.3K$930K
+4.1%
3 $2.3M$3.6M
+59.1%
4 $5.4M$9.3M
+72.2%
5+ $8.3M$22.9M
+175.3%

Median Sold Price Compared To Nearby Cities

Palm Beach Shores
+50.3%
South Palm Beach
+32.3%
West Palm Beach
+28.1%
Lake Worth
+26.0%
Palm Beach
+16.1%

How many homes are available in Palm Beach, FL?

Number of Homes For Sale

Jun 2022Jul 2022%
161145-9.9%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 2723
-14.8%
2 6261
-1.6%
3 3133
+6.5%
4 2115
-28.6%
5+ 2013
-35.0%

Number of Homes Sold

Jun 2022Jul 2022%
3913-66.7%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palm Beach, you may be able to get a good deal. 84.6% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
67 Days52 Days-22.8%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Palm Beach has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Palm Beach, FL

There are 145 homes are for sale in Palm Beach, FL real estate market. The number of homes for sale in Palm Beach, FL decreased by 9.9% between June 2022 and July 2022. In July 2022, listings were on the market for 52 days. During the same period, the median list price in this real estate market was $1,790,133. Real estate listing prices changed between June 2022 and July 2022: prices of 1 bedroom properties increased by 33.6%, prices of 2 bedrooms properties went up by 4.1%, prices of 3 bedrooms properties increased by 59.1%, prices of 4 bedrooms properties went up by 72.2%, 5 bedrooms properties became 175.3% more expensive. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory decreased by 14.8%, number of 2 bedrooms homes decreased by 1.6%, the quantity of 3 bedrooms homes went up by 6.5%, 4 bedrooms homes inventory decreased by 28.6%, 5 bedrooms homes inventory decreased by 35%. While more than 0 listings in Palm Beach, FL in July 2022 were sold above asking price, there were more than 2 listings sold at asking price, and more than 11 were sold below.

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