Is Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Palm Beach was a Seller's Market.
Housing Prices in Palm Beach, FL
How much do homes in Palm Beach, FL cost?
Median Sold Price
$1,141,666
$771/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Palm Beach was $1,141,666 in June 2024, down 11.7% from last year, and the median price per square foot was $771.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $396K | $385K | -2.8% |
2 Bedrooms | $805K | $797.5K | -0.9% |
3 Bedrooms | $2.9M | $2.7M | -4.1% |
4 Bedrooms | $8.9M | $10.2M | +13.7% |
5+ Bedrooms | $16.0M | $16.1M | +1.1% |
Summary: Palm Beach housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
Palm Beach Shores | $530K | $900K | +69.8% |
Lantana | $350K | $395K | +12.9% |
Lake Worth | $424.9K | $454.4K | +6.9% |
Palm Beach | $1.2M | $1.1M | -11.7% |
Housing Supply in Palm Beach, FL
How many homes are available in Palm Beach, FL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
340 | 338 | -0.6% |
Summary: The Palm Beach real estate market had 338 homes for sale in June 2024, a 0.6% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 50 | 54 | +8.0% |
2 Bedrooms | 160 | 159 | -0.6% |
3 Bedrooms | 68 | 65 | -4.4% |
4 Bedrooms | 29 | 27 | -6.9% |
5+ Bedrooms | 33 | 33 | 0.0% |
Summary: The Palm Beach housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
32 | 25 | -21.9% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Palm Beach in June 2024, down by 21.9% month-over-month. Of the 25 sold homes, 92% were sold under asking, 8% were sold at asking, and 0% were sold over asking.
Days on Market for Palm Beach, FL
How long does it take to sell a home in Palm Beach, FL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
81 Days | 108 Days | +32.9% |
Summary: Homes in Palm Beach had an average of 108 days on market in Jun 2024, up by 32.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During June 2024, 25 homes were sold in Palm Beach; 16% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.