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 March 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
$382,914
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in West Palm Beach was $382,914 in March 2024, up 0.9% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165.4K | $128.8K | -22.1% |
2 Bedrooms | $289.4K | $277.9K | -4.0% |
3 Bedrooms | $455.3K | $460K | +1.0% |
4 Bedrooms | $620K | $653.9K | +5.5% |
5+ Bedrooms | $1.0M | $1.0M | -0.6% |
Summary: West Palm Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.1%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
West Palm Beach | $379.3K | $382.9K | +0.9% |
Riviera Beach | $415K | $390.6K | -5.9% |
Palm Beach | $1.6M | $1.1M | -33.5% |
Housing Supply in West Palm Beach, FL
How many homes are available in West Palm Beach, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2,364 | 2,621 | +10.9% |
Summary: The West Palm Beach real estate market had 2,621 homes for sale in March 2024, a 10.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 409 | 445 | +8.8% |
2 Bedrooms | 848 | 963 | +13.6% |
3 Bedrooms | 652 | 725 | +11.2% |
4 Bedrooms | 293 | 313 | +6.8% |
5+ Bedrooms | 162 | 175 | +8.0% |
Summary: The West Palm Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
256 | 284 | +10.9% |
Asking Price vs. Sold Price
220 Homes Were Sold
Under Asking
43 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 284 homes were sold or pending in West Palm Beach in March 2024, up by 10.9% month-over-month. Of the 284 sold homes, 77% were sold under asking, 15% were sold at asking, and 7% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
45 Days | 65 Days | +43.7% |
Summary: Homes in West Palm Beach had an average of 65 days on market in Mar 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
136 Homes Were Sold
Under 30 Days
79 Homes Were Sold
In 30 - 90 Days
69 Homes Were Sold
Over 90 Days
Summary: During March 2024, 284 homes were sold in West Palm Beach; 48% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.