Is Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Palm Beach, FL
How much do homes in Palm Beach, FL cost?
Median Sold Price
$1,113,750
$711/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Palm Beach have sold for 33.5% less than they did a year ago.
Summary: The median home sold price in Palm Beach was $1,113,750 in March 2024, down 33.5% from last year, and the median price per square foot was $711.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $403.5K | $426K | +5.6% |
| 2 Bedrooms | $847.5K | $791.2K | -6.6% |
| 3 Bedrooms | $3.7M | $2.1M | -41.4% |
| 4 Bedrooms | $11.5M | $9.5M | -17.4% |
| 5+ Bedrooms | $23.5M | $14.0M | -40.6% |
Summary: Palm Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes decreased by 41.4%, 4 bedroom homes decreased by 17.4%, and 5+ bedroom homes decreased by 40.6%.
Median Sold Price Compared To Nearby Cities
| Lake Worth | $405.4K | $452.4K | +11.6% |
| Lantana | $350K | $385K | +10.0% |
| Palm Beach | $1.6M | $1.1M | -33.5% |
Housing Supply in Palm Beach, FL
How many homes are available in Palm Beach, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 423 | 447 | +5.7% |
Summary: The Palm Beach real estate market had 447 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 57 | 64 | +12.3% |
| 2 Bedrooms | 196 | 213 | +8.7% |
| 3 Bedrooms | 87 | 86 | -1.1% |
| 4 Bedrooms | 38 | 37 | -2.6% |
| 5+ Bedrooms | 45 | 47 | +4.4% |
Summary: The Palm Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 8.7%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 4.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 38 | +65.2% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palm Beach, you may be able to get a good deal. 92.1% of homes here sold below asking price last month.
Summary: A total of 38 homes were sold or pending in Palm Beach in March 2024, up by 65.2% month-over-month. Of the 38 sold homes, 92% were sold under asking, 0% were sold at asking, and 8% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 112 Days | 143 Days | +27.2% |
Summary: Homes in Palm Beach had an average of 143 days on market in Mar 2024, up by 27.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Palm Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 38 homes were sold in Palm Beach; 18% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 61% of homes were sold over 90 days.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc. 
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.