Is West Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, West Palm Beach was a Seller's Market.
Housing Prices in West Palm Beach, FL
How much do homes in West Palm Beach, FL cost?
Median Sold Price
$396,393
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in West Palm Beach was $396,393 in June 2024, up 9.1% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $130K | -3.7% |
2 Bedrooms | $274.4K | $279.9K | +2.0% |
3 Bedrooms | $445.1K | $485K | +8.9% |
4 Bedrooms | $615K | $693.5K | +12.8% |
5+ Bedrooms | $945K | $925K | -2.1% |
Summary: West Palm Beach housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.7%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
West Palm Beach | $363.3K | $396.3K | +9.1% |
Riviera Beach | $414.3K | $387.4K | -6.5% |
Palm Beach | $1.2M | $1.1M | -11.7% |
Housing Supply in West Palm Beach, FL
How many homes are available in West Palm Beach, FL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
2,433 | 2,478 | +1.8% |
Summary: The West Palm Beach real estate market had 2,478 homes for sale in June 2024, a 1.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 412 | 423 | +2.7% |
2 Bedrooms | 937 | 970 | +3.5% |
3 Bedrooms | 679 | 671 | -1.2% |
4 Bedrooms | 268 | 272 | +1.5% |
5+ Bedrooms | 137 | 142 | +3.6% |
Summary: The West Palm Beach housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.7%, 2 bedroom homes increased by 3.5%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
356 | 253 | -28.9% |
Asking Price vs. Sold Price
186 Homes Were Sold
Under Asking
41 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 253 homes were sold or pending in West Palm Beach in June 2024, down by 28.9% month-over-month. Of the 253 sold homes, 74% were sold under asking, 16% were sold at asking, and 10% were sold over asking.
Days on Market for West Palm Beach, FL
How long does it take to sell a home in West Palm Beach, FL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
47 Days | 54 Days | +14.6% |
Summary: Homes in West Palm Beach had an average of 54 days on market in Jun 2024, up by 14.6% compared to last year.
Breakdown of Home Sale Times
114 Homes Were Sold
Under 30 Days
88 Homes Were Sold
In 30 - 90 Days
51 Homes Were Sold
Over 90 Days
Summary: During June 2024, 253 homes were sold in West Palm Beach; 45% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.