Is South Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, South Palm Beach was a Seller's Market.
Housing Prices in South Palm Beach, FL
How much do homes in South Palm Beach, FL cost?
Median Sold Price
$455,000
$390/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in South Palm Beach was $455,000 in February 2024, up 3.3% from last year, and the median price per square foot was $390.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $310K | $300K | -3.2% |
2 Bedrooms | $440K | $475K | +8.0% |
3 Bedrooms | $1.0M | $1.1M | +4.8% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: South Palm Beach housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Lantana | $342.5K | $379.9K | +10.9% |
South Palm Beach | $440.5K | $455K | +3.3% |
Palm Beach | $1.7M | $1.1M | -36.7% |
Housing Supply in South Palm Beach, FL
How many homes are available in South Palm Beach, FL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
95 | 118 | +24.2% |
Summary: The South Palm Beach real estate market had 118 homes for sale in February 2024, a 24.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 23 | 27 | +17.4% |
2 Bedrooms | 61 | 77 | +26.2% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Palm Beach housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 26.2%, 3 bedroom homes increased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in South Palm Beach in February 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for South Palm Beach, FL
How long does it take to sell a home in South Palm Beach, FL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
42 Days | 99 Days | +137.1% |
Summary: Homes in South Palm Beach had an average of 99 days on market in Feb 2024, up by 137.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 5 homes were sold in South Palm Beach; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.