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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palm Beach Gardens is a neutral's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Palm Beach Gardens is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Palm Beach Gardens, FL

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

Median Sold Price

$709,812

$365/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$71,341(+11.2%)

Key Takeaway

Homes in Palm Beach Gardens have sold for 11.2% more than they did a year ago.

Summary: The median home sold price in Palm Beach Gardens was $709,812 in May 2024, up 11.2% from last year, and the median price per square foot was $365.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $240K$264K
+10.0%
2 $385K$409.6K
+6.4%
3 $656K$699.7K
+6.7%
4 $1.1M$1.2M
+6.7%
5+ $1.9M$2.2M
+15.3%

Summary: Palm Beach Gardens housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 15.3%.

Median Sold Price Compared To Nearby Cities

Lake Park
+28.1%
North Palm Beach
+19.9%
Jupiter
+11.4%
Palm Beach Gardens
+11.2%
Riviera Beach
-3.9%

Housing Supply in Palm Beach Gardens, FL

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

Number of Homes For Sale

Apr 2024May 2024CHANGE
880886+0.7%

Summary: The Palm Beach Gardens real estate market had 886 homes for sale in May 2024, a 0.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1311
-15.4%
2 194195
0.5%
3 386401
+3.9%
4 171168
-1.8%
5+ 116111
-4.3%

Summary: The Palm Beach Gardens housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.4%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 4.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
149145-2.7%

Asking Price vs. Sold Price

120 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palm Beach Gardens, you may be able to get a good deal. 82.8% of homes here sold below asking price last month.

Summary: A total of 145 homes were sold or pending in Palm Beach Gardens in May 2024, down by 2.7% month-over-month. Of the 145 sold homes, 83% were sold under asking, 8% were sold at asking, and 9% were sold over asking.

Days on Market for Palm Beach Gardens, FL

How long does it take to sell a home in Palm Beach Gardens, FL?

Average Sale Time

May 2023May 2024CHANGE
54 Days60 Days+11.0%

Summary: Homes in Palm Beach Gardens had an average of 60 days on market in May 2024, up by 11% compared to last year.

Breakdown of Home Sale Times

65 Homes Were Sold
Under 30 Days

42 Homes Were Sold
In 30 - 90 Days

38 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 145 homes were sold in Palm Beach Gardens; 45% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.

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

Report Updated 16 Days Ago

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