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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palm Beach County is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Palm Beach County has remained a Seller's Market.

Key Takeaway

Palm Beach County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Palm Beach County, FL cost?

Median Sold Price

$411,967

$259/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$61,911(+17.7%)

Key Takeaway

Homes in Palm Beach County have sold for 17.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $97.1K$125.1K
+28.9%
2 $216.9K$273.1K
+25.9%
3 $380.2K$477.4K
+25.6%
4 $580.4K$707.8K
+22.0%
5+ $993.1K$1.2M
+25.9%

Median Sold Price Compared To Nearby Counties

Martin County
+18.0%
Palm Beach County
+17.7%
Broward County
+16.8%
Hendry County
+11.1%

How many homes are available in Palm Beach County, FL?

Number of Homes For Sale

Jul 2022Aug 2022%
9,98410,281+3.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 734709
-3.4%
2 3,2463,351
+3.2%
3 3,5293,654
+3.5%
4 1,5251,578
+3.5%
5+ 950989
+4.1%

Number of Homes Sold

Jul 2022Aug 2022%
2,0561,875-8.8%

Asking Price vs. Sold Price

1,100 Homes Were Sold
Under Asking

376 Homes Were Sold
At Asking

399 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palm Beach County, you may be able to get a good deal. 58.7% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
28 Days24 Days-15.8%

Breakdown of Home Sale Times

1,359 Homes Were Sold
Under 30 Days

452 Homes Were Sold
In 30 - 90 Days

64 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palm Beach County are selling fast, if you're buying plan to act quickly.

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

About Palm Beach County, FL

Palm Beach County, FL has 10,281 homes on the market. The inventory of homes for sale in Palm Beach County, FL between July 2022 and August 2022 increased by 3%. In August 2022, listings were on the market for 24 days. During the same period, the median list price in this real estate market was $411,967. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 28.9% more expensive, 2 bedrooms properties prices increased by 25.9%, the cost of 3 bedrooms properties went up by 25.6%, prices of 4 bedrooms properties went up by 22%, 5 bedrooms properties prices increased by 25.9%. Volume of homes for sale changed: number of 1 bedroom homes decreased by 3.4%, 2 bedrooms homes inventory increased by 3.2%, volume of 3 bedrooms homes went up by 3.5%, the quantity of 4 bedrooms homes went up by 3.5%, the quantity of 5 bedrooms homes went up by 4.1%. Over 399 listings were sold over their listed price in August 2022 in Palm Beach County, FL. In the same period over 1100 listings were sold below the listed price and 376 listings were sold for the listed price.

Related Housing Market Reports