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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Palm Beach is a buyer's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

South Palm Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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

Median Sold Price

$399,000

$334/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$96,500(+31.9%)

Key Takeaway

Homes in South Palm Beach have sold for 31.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $199.7K$264.9K
+32.6%
2 $312.5K$424.5K
+35.9%
3 $739K$1.0M
+42.1%
4 $5.3M-
N/A
5+ --
N/A

Median Sold Price Compared To Nearby Cities

South Palm Beach
+31.9%
Boynton Beach-Delray Beach
+24.3%
Palm Beach
+23.2%
Lantana
+16.1%

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

Number of Homes For Sale

Jul 2022Aug 2022%
5354+1.9%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 88
0.0%
2 3634
-5.6%
3 811
+37.5%
4 11
0.0%
5+ 00
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
104-60.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Palm Beach, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
69 Days19 Days-71.5%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Palm Beach 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 South Palm Beach, FL

There are 54 homes are for sale in South Palm Beach, FL real estate market. The number of homes for sale in South Palm Beach, FL increased by 1.9% between July 2022 and August 2022. In August 2022, listings were on the market for 19 days. During the same period, the median list price in this real estate market was $399,000. This housing market listing prices have changed between July 2022 and August 2022: 1 bedroom properties became 32.6% more expensive, prices of 2 bedrooms properties increased by 35.9%, 3 bedrooms properties became 42.1% more expensive, the cost of 4 bedrooms properties went up by 0%, 5 bedrooms properties became 0% more expensive. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes remained the same, the quantity of 2 bedrooms homes went down by 5.6%, 3 bedrooms homes inventory increased by 37.5%, number of 4 bedrooms homes remained the same, volume of 5 bedrooms homes stayed the same. South Palm Beach, FL housing market in August 2022 saw over 1 listings sold above listed price, more than 1 sold at listed price and over 2 sold below.

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