Is Palm Beach County, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Palm Beach County was a Seller's Market.
Housing Prices in Palm Beach County, FL
How much do homes in Palm Beach County, FL cost?
Median Sold Price
$459,404
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Summary: The median home sold price in Palm Beach County was $459,404 in November 2023, up 8% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $145.9K | +12.2% |
2 Bedrooms | $285K | $304K | +6.6% |
3 Bedrooms | $499.9K | $521.1K | +4.2% |
4 Bedrooms | $739.9K | $768.7K | +3.9% |
5+ Bedrooms | $1.3M | $1.3M | +6.6% |
Summary: Palm Beach County housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 6.6%.
Median Sold Price Compared To Nearby Counties
Hendry County | $265K | $310.7K | +17.3% |
Martin County | $429.2K | $465K | +8.3% |
Palm Beach County | $425.4K | $459.4K | +8.0% |
Broward County | $388.2K | $413.9K | +6.6% |
Okeechobee County | $264.6K | $249.2K | -5.8% |
Housing Supply in Palm Beach County, FL
How many homes are available in Palm Beach County, FL?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
10,986 | 11,711 | +6.6% |
Summary: The Palm Beach County real estate market had 11,711 homes for sale in November 2023, a 6.6% increase compared to October 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 904 | 982 | +8.6% |
2 Bedrooms | 3,870 | 4,186 | +8.2% |
3 Bedrooms | 3,629 | 3,802 | +4.8% |
4 Bedrooms | 1,550 | 1,648 | +6.3% |
5+ Bedrooms | 1,033 | 1,093 | +5.8% |
Summary: The Palm Beach County housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 5.8%.
Number of Homes Sold
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
1,816 | 1,369 | -24.6% |
Asking Price vs. Sold Price
1,044 Homes Were Sold
Under Asking
205 Homes Were Sold
At Asking
120 Homes Were Sold
Over Asking
Summary: A total of 1,369 homes were sold or pending in Palm Beach County in November 2023, down by 24.6% month-over-month. Of the 1,369 sold homes, 76% were sold under asking, 15% were sold at asking, and 9% were sold over asking.
Days on Market for Palm Beach County, FL
How long does it take to sell a home in Palm Beach County, FL?
Average Sale Time
Nov 2022 | Nov 2023 | CHANGE |
---|---|---|
40 Days | 45 Days | +12.3% |
Summary: Homes in Palm Beach County had an average of 45 days on market in Nov 2023, up by 12.3% compared to last year.
Breakdown of Home Sale Times
768 Homes Were Sold
Under 30 Days
379 Homes Were Sold
In 30 - 90 Days
222 Homes Were Sold
Over 90 Days
Summary: During November 2023, 1369 homes were sold in Palm Beach County; 56% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.