Is Royal 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
Since last year, Royal Palm Beach has remained a Seller's Market.
Housing Prices in Royal Palm Beach, FL
How much do homes in Royal Palm Beach, FL cost?
Median Sold Price
$484,966
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Royal Palm Beach was $484,966 in March 2024, up 5.4% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $116.5K | $139K | +19.3% |
2 Bedrooms | $271K | $270K | -0.4% |
3 Bedrooms | $455K | $475K | +4.4% |
4 Bedrooms | $568K | $610K | +7.4% |
5+ Bedrooms | $645.5K | $710K | +10.0% |
Summary: Royal Palm Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
Royal Palm Beach-West Jupiter | $534.4K | $589.5K | +10.3% |
Royal Palm Beach | $459.9K | $484.9K | +5.4% |
Loxahatchee | $638.5K | $668.1K | +4.6% |
Wellington | $680.8K | $695K | +2.1% |
Loxahatchee Groves | $774.9K | $777.5K | 0.3% |
Housing Supply in Royal Palm Beach, FL
How many homes are available in Royal Palm Beach, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
216 | 239 | +10.6% |
Summary: The Royal Palm Beach real estate market had 239 homes for sale in March 2024, a 10.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 46 | 50 | +8.7% |
3 Bedrooms | 90 | 102 | +13.3% |
4 Bedrooms | 50 | 53 | +6.0% |
5+ Bedrooms | 26 | 30 | +15.4% |
Summary: The Royal Palm Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 42 | +16.7% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in Royal Palm Beach in March 2024, up by 16.7% month-over-month. Of the 42 sold homes, 69% were sold under asking, 19% were sold at asking, and 12% were sold over asking.
Days on Market for Royal Palm Beach, FL
How long does it take to sell a home in Royal Palm Beach, FL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 33 Days | -19.9% |
Summary: Homes in Royal Palm Beach had an average of 33 days on market in Mar 2024, down by 19.9% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 42 homes were sold in Royal Palm Beach; 64% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.