Is Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Palm Beach was a Seller's Market.
Housing Prices in Palm Beach, FL
How much do homes in Palm Beach, FL cost?
Median Sold Price
$1,100,000
$682/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palm Beach was $1,100,000 in April 2024, down 31.3% from last year, and the median price per square foot was $682.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $403.5K | $426K | +5.6% |
2 Bedrooms | $847.5K | $805K | -5.0% |
3 Bedrooms | $3.7M | $2.7M | -25.9% |
4 Bedrooms | $10.2M | $8.9M | -12.6% |
5+ Bedrooms | $23.0M | $13.9M | -39.3% |
Summary: Palm Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 25.9%, 4 bedroom homes decreased by 12.6%, and 5+ bedroom homes decreased by 39.3%.
Median Sold Price Compared To Nearby Cities
Lantana | $350K | $381K | +8.9% |
Lake Worth | $418.7K | $451.2K | +7.8% |
Palm Beach | $1.6M | $1.1M | -31.3% |
Housing Supply in Palm Beach, FL
How many homes are available in Palm Beach, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
413 | 432 | +4.6% |
Summary: The Palm Beach real estate market had 432 homes for sale in April 2024, a 4.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 58 | 62 | +6.9% |
2 Bedrooms | 196 | 207 | +5.6% |
3 Bedrooms | 84 | 90 | +7.1% |
4 Bedrooms | 34 | 32 | -5.9% |
5+ Bedrooms | 41 | 41 | 0.0% |
Summary: The Palm Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 41 | +7.9% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Palm Beach in April 2024, up by 7.9% month-over-month. Of the 41 sold homes, 88% were sold under asking, 10% were sold at asking, and 2% were sold over asking.
Days on Market for Palm Beach, FL
How long does it take to sell a home in Palm Beach, FL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
95 Days | 77 Days | -19.3% |
Summary: Homes in Palm Beach had an average of 77 days on market in Apr 2024, down by 19.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During April 2024, 41 homes were sold in Palm Beach; 37% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.